Guaranteed Loans for Bad Credit

Get loan quotes in 2-minutes, zero fees, credit score impact, or obligation 👍

Are there guaranteed loans?

👍 Yes, there are bad credit loans with more relaxed credit checks which can offer better acceptance levels.
(compared to high street lenders)

👎 No, there are no guaranteed acceptance loans.

What about loans that are guaranteed by someone?

  • A friend or family member (typically) becomes a guarantor, to guarantee the lender repayment of the loan.
  • Typically, the most affordable type of poor credit loan (around 49.9% APR).
  • Other loans such as payday, instalment, or doorstep can be expensive (up to 1,575% APR).
  • The guarantor will need a good credit rating and regular income.
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Representative 49.9% APR

Borrow £3,250 over 36 months at a Representative Rate of 49.9% APR at an annual interest rate of 41.16% (fixed), you pay 36 instalments of £158.57. Total charge of credit is £2,464.57, total amount payable £5,714.67.
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Frequently Asked Questions

1

What bad credit loans have the highest acceptance rate?

For the loan types, we list typical acceptance rates


LOWER ACCEPTANCE > MORE AFFORDABLE


AVERAGE ACCEPTANCE > AVERAGE COST


HIGH ACCEPTANCE > MOST EXPENSIVE

  • Payday, Instalment & Doorstep - typically 135% - 1,575% APR

We’d suggest trying guarantor first to keep your loan costs to a minimum.

No impact on your credit score, no fees, no obligation

2

Can I get a guaranteed acceptance loan?

NO 👎

All loan approvals in the UK must be based on the status of the applicant (and if applicable, their guarantor).

  • The FCA who regulates the UK finance industry prohibits companies from offering credit where it’s suggested that applications are in any way guaranteed.
  • You cannot get a guaranteed approval loan.
  • Beware any lender who says that they guarantee a successful application.
3

What does it mean to guarantee a loan?

When you guarantee a loan, you agree to make the repayments if the borrower defaults.

As a ‘loan guarantor’ you:

  • Are legally liable for someone else’s loan.
  • Need a good credit rating.
  • Should be willing to support the loan application and take on the potential liability.
  • Are typically a family member, or friend of the borrower.

When guaranteeing a loan, you can become fully liable for the debt (and get a damaged credit file if there are defaults); you should therefore make yourself fully aware of the implications.

See our Being a Loan Guarantor page.

4

How does a guarantor loan work?

Guarantor required - you need someone with a clean credit history to guarantee the loan application 🧑‍🤝‍🧑

Compared to other poor credit loans, typically:

  • Better rates - they typically have better rates than other loans because the lender has the security of the guarantor. 
  • More affordable - often better rates than other loans with Representative APRs of 39.9% - 54.9% compared to 135% - 1,575%.
  • Larger loan amountsfrom £500 - £15,000 loans, many other loans often up to £2,000. 
  • Longer repayment periods - ranging from 6 - 60 months compared to up to 12 months for others (this helps to lower monthly repayments making them more affordable).

More affordable credit available to those with a poor credit history 👍

5

Am I guaranteed to get approved with a guarantor?

NO 👎

Lenders, unfortunately, do not consider

BORROWERS

  • Under 18 or over 75
  • Zero income
  • Non-UK resident
  • No bank account or debit card
  • Insolvent (undischarged bankrupt, IVA, trust deed)
  • Where the loan is not affordable

GUARANTORS

  • Poor credit history
  • Who do not meet the other criteria listed above

For more information see page What’s the guarantor loan criteria?

More FAQs

1

How to find someone to be my guarantor?

Typically, these will be family members, friends or colleagues, someone close to the borrower 👪

  • A suitable person will have a clean credit history, be a United Kingdom citizen, and be employed.
  • The best way to find someone is to ask them.

For information see our guide on How to find a guarantor for a loan?

2

How to increase my chance of getting accepted?

Guarantor loans are a great option

  • They make affordable loans more available to those with poor credit scores.
  • But have lower acceptance rates because not everyone can find someone to guarantee their loan.

Increase your chance of getting accepted

  1. How to find a guarantor for a loan?
  2. Being a Loan Guarantor Guide
  3. What's the guarantor loan criteria?
3

What other bad credit loan options are there?

We summarise three alternative options below 👇


Payday

  • A high-cost short-term small loan for a few weeks only, up to your next payday. 
  • Rates are typically very high up to about 1,500%, and because of this, they are relatively easy to get and have the most relaxed acceptance criteria.
  • Amounts are typically below £1,000.
  • See Are guarantor loans a payday loan alternative?

Instalment

  • High-cost short term unsecured personal loan.
  • Rather than only being for a few weeks, there is a repayment plan (typically 2 to 12-months).
  • Loans are typically up to £2,000.
  • Acceptance criteria can be more relaxed, this is reflected in their cost, with rates with some lenders up to about 1,500% APR.
  • There are better value instalment loans coming on the market all the time, but they are still a high-cost option.

Doorstep

  • At 535% to 716% APR, doorstep loans are more affordable than the previous types.
  • You will need to make weekly payments to an agent that visits your house, which some people do not like.

4

Can I get a loan without being credit checked?

NO 👎

All lenders undertake some form of credit check, to verify

  • Your ID
  • That you’re not insolvent (bankrupt or in an IVA)

A guarantor loan has a limited number of credit checks on the borrower, and our lenders accept people with loan defaults and CCJs (subject to affordability).

5

How do I find out my credit score?

Before looking for a loan it's always worth getting a copy of your latest credit file 📋

CHECK MY FILE

A good company to use as their credit report pulls in information from all the three major credit reference agencies - Experian, Equifax, and Call Credit

CREDIBBLE

Shows you your credit file and what you may need to do to fix it!

Video

Can you get a guaranteed loan?

Why use this website?

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How to get quotes and a loan?

1

Quick and easy online application

Only 2-minutes

One quick and simple online application form to get multiple quotes, all without having to speak to anyone.

2

Your eligibility is checked with over 35-lenders

Less than 1-minute

Effortlessly find the loans you are pre-approved for in less than one minute - our amazing system will check with over 35-lenders all for you.

3

Loan quotes from lenders who’ve pre-approved you

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Immediately see online the loans you've bee pre-approved for, all done automatically without having to speak to anyone!

4

Choose lowest rate loan and finish application

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Simply choose the best loan for you and finish off the quick online application with your chosen lender.

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