Buddy Loans £1,000 to £10,000
Buddy's online reviews from TrustPilot, Redies & ReviewCentre
Update: due to Corona Virus Buddy is slowing its lending to new customers, click Get Quotes to find available loans
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Recent reviews for Buddy
4.6 / 5 from 3,045 online reviews
- Trustpilot - 2,978
- Reviewcentre - 21
- Readies - 46
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Very efficient, very friendly and polite. Well done guys
Catherine Elford -
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Very good services and fast approval.
Robertvalentin -
Fast and easy!
Mihaela -
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Excellent friendly service!
Ashley
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Very helpful and thank you
Mustapha -
Very helpful and don't talk over the top of you
Michael Brown -
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Very helpful, easy service to use . Highly recommended.
norman williams -
Quick and very efficient excellent security checks
Yvonne Drake -
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Always reliable.. Trustworthy service.
Miss D May -
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Fabulous, quick, easy, no aggravation service. Thank you
Samantha Surridge -
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Very helpful staff
Fiona
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fast and helpful
Jennie Wickens -
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Brilliant and quick service
Michelle
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Brilliant service !!
Daniel -
Easy process with helpful people throughout.
Darren Thornhill -
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Great as always
Christopher
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Very good service
Rosanne -
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Buddy was set up by Nicholas Zapolski and Guy Mackenzie in 2013 and is the trading name for Advancis Limited.
Both have a rich background within the financial services industry and have created a company which in a short space of time is getting plenty of positive reviews by its customers online.
While you could be mistaken in thinking that Buddy is just the same as all the other lenders, their differentiating factors include online customer accounts and no fees for fast pay-out or early redemption.
We certainly, therefore, think that Buddy should be worth serious consideration.
Loan Highlights
Good option for those with bad credit
Online portal for easy management
Approval decision within the hour
No paperwork to complete, 100% online
Your guarantor does not need to be a homeowner
Minimum Criteria
Your guarantor must be aged between 18-75
Your guarantor must have a good credit score
Your guarantor must have a minimum income of £1,000pm
Your guarantor must have a UK bank account
Fees
Maximum APR 49.9%
Arrangement fee: £0
Early repayment fee: £0
Late payment fee: £12
Frequently asked questions
How long does it take to get a loan from Buddy?
Their aim is to have the loan approved in 24 hours 👍
- This depends on the documentation that's needed, and how quickly it's supplied.
- Once the loan has been approved, the money is transferred to the Guarantors bank account within hours.
How does the application process work?
- Select the amount you wish to borrow and over how long.
- Provide personal information so they can start the assessment process.
- Nominate your Guarantor.
- Our team will give you and your Guarantor a call to talk through your loan application.
- They'll chat through income, expenses, and affordability for you and your Guarantor
- Loan approved?
- Then their payout team will give you a call to talk you through the final details, do final security checks and get the funds paid out.
Can the loan be paid off early?
Yes 🙂
- You can make overpayments every month.
- You can also pay off in full, all without a penalty 👍
Are there any upfront fees?
No 😃
- Buddy charge zero upfront fees.
- This website is free to use and charges no fees.
- If you goto Buddy from this website, the costs are the same as if you went direct 👍
Pros and Cons
Buddy offer loans from £1,000 up to £10,000, the following summarises the main features.
Pro's 👍
- Quick approvals with money paid out in as fast as 24 hours
- Online customer accounts, so you can make payments etc.
- No fees for fast pay-out or early redemption
- Good number of positive online reviews
- Interest is charged on a daily basis, so if you do pay off early you only pay for the money outstanding
- Non homeowner guarantors acceptable
- Your credit file can be poor
Con's 👎
- You need a guarantor with a clean credit history
- The APRs are at the upper end of the guarantor market place
- An administration fee is charged which is added to your loan
- A guarantor is required, and if you stop making the payment, they will need to step in
The basics ✍️
- Both your guarantor and you need to be residents of the UK
- You also both need a valid UK bank account
- You and your guarantor need to comfortably be able to make the monthly repayments.
- Your guarantor needs to be between 18 and 75 at the time you take out the loan
- Your guarantor needs a minimum monthly income of £1,000.
- You need to be solvent, and not in an IVA or Bankrupt
- You have a 14 day cooling off period, so if you of your guarantor changes your mind you can return the loan.
We feel that Buddy Loans are one of the best guarantor loans lenders, though we would always suggest looking at your other options before applying for a loan.