Online Guarantor Loans from £500 to £10,000
Representative Example - if you borrow £1,000 over 12 months, repaying £103.06 per month, total repayable is £1,236.72 with an interest rate of 49.9% (variable).
Frequently asked questions
What is a guarantor personal loan?
- Unsecured credit that requires the borrower to find someone to guarantee their application - typically, a family member or friend (with a good credit rating and regular income).
- A type of loan that helps people with a bad credit rating access affordable finance.
- The borrower and guarantor sign the agreement, and if the borrower defaults, the guarantor has to make the monthly repayments.
Who are the loans for?
- People with a poor credit score who are looking for affordable finance.
- People with no credit history who are looking to build their score.
How to find a guarantor?
- Ask close family and friends, people who know and trust you.
- Give them the information they need
- FAQs - see Being A Guarantor
- Proof that you can afford the monthly repayments
- Why you need the money
- For more information see: How do you find the perfect guarantor?
How quickly is the money paid out?
- Application forms are quick and easy to fill out.
- In many cases within 24 hours, though can be paid out the same day* - see Estimated loan pay-out times
* Dependant on you getting all the information required by the lender in good time.
Will I get credit checked?
- For just Getting A Quote via our website you will not be credit checked.
- When you take the next step of making a full application to a lender you will be credit checked, but if you have a poor credit rating that is not a problem.
- Our lenders also consider
- The credit history and income of your guarantor
- Affordability for you.
- Once you are making your repayments, they will be marked on your credit file to build up your credit score.
What can I use the money for?
Our lenders understand there are many reasons why you may need access to additional funds:
- Home improvements or holidays, or to cover emergencies.
- Their main concern is that you can afford their monthly repayments.
Do I, or my guarantor need to be homeowners?
- No, but the best rates are for guarantors who do.
- Your guarantor can be a tenant, for the options available click here.
- You can be a tenant or living with parents, many of our lender’s customers are.
- The finance is not secured against property, all are ‘unsecured’.
What charges are there?
- We are a free service - here is no charge for using GuarantorloansUK.net (see How We Earn Revenue)
- For details of all fees and interest charges for the loans you qualify for click Get Quotes.
What is the cheapest option?
- Our cheapest loans range from 39.9% to 59.9% Representative APR.
- The finance available to you depends on your own personal circumstances.
- See here a list of the lowest cost options.
- To find out the options available to you, fill out this 2-minute form to Get Quotes.
Is getting a loan guaranteed?
- A successful application cannot be guaranteed.
- Every lender has their own criteria, and whether they decide to lend to you will depend on the status of you and your guarantor.
- For more information, see our FAQ page.
What if I cannot make the repayments?
- Contact your lenders straight away if you are having difficulties.
- If you miss a payment, it is most likely that your lender will contact your guarantor directly to collect payment.
Can I pay off the loan early?
- Most of our lenders do allow over-payments and paying off early.
- Though check precise details with your preferred lender before signing the agreement, to ensure this meets your needs.
Are you like a payday loan?
NO, see the differences:
- Payday: small loans typically up to £2,000 maximum, we do loans up to £10,000.
- Have very high-interest rates up to 1,500% Representative APR, our interest rates are typically 39.9% to 59.9%.
- Are intended for short periods of up to 4 weeks, ours are typically from 6 months to 5 years.
- For more information o the differences see our article "A more affordable payday alternative".
More Questions?
- See our FAQ section
- Resources on other websites:
- Moneyadviceservice.org.uk - Help with loans
- Stepchange.org - Guarantor loan debts. How to deal with them
- Citizensadviceorg.uk - Types of Borrowing - Personal Loans
Best Guarantor Personal Loan Deals
What can the loans be used for?
Our lenders fully understand there are many reasons why you may need access to additional funds. Whether that be for nice things such as home improvements or holidays, or to cover emergencies. Their main concern is that you can afford their monthly repayments. Below are some example of why a loan may be needed, though you are not limited to only getting a loan for these reasons.
If you have other loans with high interest rates, you may be able to reduce your monthly loan payments by consolidating these into a guarantor loan.
Whether you need to travel for business or personal reasons, a loan could provide you with the money you need.
Unexpected expenses can hit at any time, so getting a loan to cover that boiler repair, car repair, or even that month or so between jobs is not a problem.
Whether you are looking for a new car, or need to repair the one you have, our lenders loans can provide that solution for cash.
May it’s time to replace the kitchen, add a conservatory, or get a new carpet. If other loan options are not available, then our lenders may provide you with another option.
Learning can be expensive, so if you are struggling to find other options for the money you need, then one of our lenders loans may be an option for you.
Who can get a loan?
Loan companies typically look at the borrower’s credit score, so if you have a bad credit history you may struggle when applying to the ‘high street’ lenders. Below are examples of the types of people our lenders help.
If you do not own your own home then the credit options available to you are reduced; especially if you have a poor credit score. Our lenders lend to tenants.
If you do not have two or three years’ worth of accounts to prove your income, them many high street lenders are not interested. Our lenders lend to self-employed people.
If you have zero credit history, and possibly a couple of missed payments on an overdraft, then loan with a mainstream bank can be difficult. Our lenders lend to students.
If you have no employed income, and only benefits, then many banks will not lend. Our panel or lenders welcome people on benefits.
Have you have missed payments on a past loan, or maybe have CCJ? If yes, credit can be very expensive. The guarantor loan was set up as an affordable option for people with bad credit.
It may sound silly, but if you have very little history of borrowing money, then it is more difficult to borrow. Our lenders welcome people with little, or no credit history.
