Guarantor Loans from £500 up to £15,000*

"Offering a helping hand"

Select the loan amount to start your application - Instant online decision!

Representative APR 49.9% (variable)

APPLY NOW

Representative Example: Borrowing £4,500 over 36 months. Repaying £219.55 per month. Total repayable £7,903.80. Annual interest rate is 49.9% (variable).

Guarantor Loans

Are you contemplating taking out a guarantor loan, or are you considering becoming a guarantor yourself? If the answer is yes, then take a look at our guide.

Getting a loan can be a difficult for a lot of people, especially those who have a bad credit history, or those that have no credit history whatsoever; this is where a guarantor loan could provide the answer.

What is a guarantor loan?

A guarantor loan is an unsecured loan, the borrower requires a co-signer to act as their guarantor.

The term of the loan is usually between 1 to 7 years and you can lend from £500 to £15,000.

Guarantor loans have been around for many years, prior to credit scoring being introduced, it was how the banks used to lend money and is based completely on trust.

Even with the introduction of credit scoring, it is not uncommon for a private landlord or mortgage company to ask for a guarantor.

Is a guarantor loan right for me?

If you are having problems obtaining a loan through conventional methods, as an example you may have a bad credit history and have been turned down by your bank or other mainstream lenders, then a guarantor loan could be for you.

With a guarantor loan, you can usually borrow a higher amount than if you were to get a loan by yourself as having bad credit will impact on the loan amount and APR.

Who can act as a guarantor?

A guarantor can be anybody who is not connected to you financially, for example, your spouse would not be allowed to act as a guarantor. However, other family members, friends or even co-workers can.

You will need to bear in mind the criteria for which a guarantor is likely to be accepted. Normally, the guarantor will need to be over 21, have a good credit history and also be a UK homeowner.

Some guarantor lenders will also accept non homeowners who have an excellent credit history as the loans are not secured.

Your guarantor will need to undertake standard credit checks, they will be required to provided bank statements, bank details and ID.

How much interest will I pay?

APR will differ from lender to lender; typically the APR varies from 39.9% to 59.9%, this is depending on the applicant’s credit worthiness.

What if I default on the loan?

If you do not keep up repayments on the loan, the guarantor will be required to pay on your behalf.

You will be pursued for the full outstanding loan amount and interest.

Who offers Guarantor Loans?

Amigo Loans, UK Credit Ltd, TFS Loans, TrustTwo, 1+1 Loans and Bamboo Loans are some of the more well-known guarantor loan lenders.

Loans up to £15,000

Whatever your circumstances

  • Loans up to £15,000
  • Loans for any purpose
  • No complicated forms
  • No 'Up-Front' fees

49.9% APR representative (unsecured)

Representative Example:
Borrowing £4,500 over 36 months. Repaying £219.55 per month. Total repayable £7,903.80. Annual interest rate is 49.9% (variable).

WARNING - LATE REPAYMENTS CAN CAUSE YOU SERIOUS MONEY PROBLEMS. FOR HELP GO TO WWW.MONEYADVICESERVICE.ORG.UK

Amigo Loans Bamboo Finance UK Credit TFS Loans Trust Two 1 Plus 1 Loans

*Unsecured loans are available to a maximum of £25,000. Loans of up to £100,000 may be offered by the lenders subject to affordability. Typical Example for illustration purposes only: £25,000 over 10 years with 7.8% APR, Total to repay: £35,664, Monthly Repayment: £297.20. Overall cost for comparison is 5.5% APR typical. Overall cost for comparison for unsecured loans is 22.1% APR typical. Unsecured Loan Typical Example for illustration purposes only: Borrowing £4,500 over 36 months. Repaying £219.55 per month. Total repayable £7,903.80. Annual interest rate is 49.9% (variable).

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

WARNING - LATE REPAYMENTS CAN CAUSE YOU SERIOUS MONEY PROBLEMS. FOR HELP GO TO:

The Money Advice Service

Copyright © badcreditloans.tv, which is a trading style of Unsecured Loans For You Ltd. Hyde Park House, Cartwright Street, Hyde, Cheshire, SK14 4EH. Registered in England. Company Reg No: 7769033. Data Protection Act Registration No: Z2884329, FCA Authorisation Reference Number: 723179.

Unsecured Loans For You Ltd are a licenced credit broker, not a lender. We are authorised and regulated by the Financial Conduct Authority. The information you provide is passed to our trusted panel of lenders where all applications are subject to assessment and approval.

Cookie Consent

By continuing to use the site, you agree to the use of cookies.

Cookie Policy