Guarantor My Loan £1,000 to £10,000
GuarantorMyLoan's online reviews from TrustPilot
Update: due to Corona Virus GML is slowing its lending to new customers, click Get Quotes to find available loans
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Recent reviews for GuarantorMyLoan
4.5 / 5 from 236 online reviews
GuarantorMyLoan has received a good number of reviews on Trustpilot. In the last year their reviews are broken down as below:
- Excellent: 87%
- Great: 9%
- Average: 1%
- Poor: 1%
- Bad: 2%
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Very efficient and friendly staff
Mr Swintonbland -
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Excellent service, very straightforward, highly recommend.
Leona Hodgkinson -
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Good and fast.
Mr Lucius-Adrian Barbut -
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very helpfull and easy to sort out!
Mark Egan -
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Very helpful and always keeping up to date with process
Radford Barry -
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Very polite, informative and helpful
Francesca -
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A fast and efficient service with friendly employees
Andrew Jagger -
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Excellant service
Michael Timbrell
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Excellent service
David -
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Rob and aimee done all they could to help
James Currie -
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Quick and efficient
Christine -
Excellent service very polite very quick
Justin Tindale
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Excellent company
Filipe Nunes -
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They have grown and developed into one of the more innovative and popular loan lenders in the market today. They’re proud of our pioneering peer-to-peer lending model, which benefits both lenders and borrowers who are looking for more affordable rates than they could maybe get elsewhere.
Homeowner & Good Credit | £1,000 - £10,000 |
Term | 12 - 60 months |
APR | 29.0% representative See representative example
|
Homeowner Guarantor | £1,000 - £10,000 |
Term | 12 - 60 months |
APR | 48.9% representative See representative example
|
Rating | 61.4 / 100 |
Time to Apply | 3 min 2 secs |
Loan Highlights
Early repayment with no charges
Peer-to-peer lending options available
1 month’s cashback available upon repayment of the loan
Minimum Criteria
Must be a UK resident
Must be aged 21 or over
Cannot have a history of bankruptcy or any active IVAs, CCJs etc
Guarantor must be aged 21 or over
Guarantor must be able to demonstrate a good credit history
Fees
Maximum APR 48.9%
Arrangement fee: £30.48
Early repayment fee: £0
Late payment fee: £11.50
Frequently asked questions
How long does it take to get a loan?
Same day 📆
- GML aims to get the loan money into your guarantor’s bank account the same day that your application is accepted.
How long does the application process take?
Only 5 minutes for both you and your guarantor ⏱️
- Once GML has received your completed application they aim to get in touch within 1 hour (during office hours).
- As a responsible lender, they need to speak to both you and your guarantor over the phone
- This is to ensure they have the correct details and ask a few further questions (as required by law).
- This helps us to prevent fraud and protects our customers.
When they've approved your application, they aim to get the loan paid out the same day.
Are there upfront fees?
No 😀
- GML does not charge upfront fees
- We do not either, this website is completely free to use
Can I pay off the loan early without a penalty?
Yes 😃
- You can pay the full outstanding balance off
- Pay any interest and service fees due up to that point
Pros and Cons
Guarantor My Loan’s loans range from £1,000 to £10,000, and their repayment periods are from one to five years. See our summary of some of their loans pros and cons:
Pro's 👍
- Very good rates (for the guarantor market) if you and your guarantor are both homeowners
- Your guarantor can be your husband or wife (one of only two lenders that allow this)
- Increasing number of positive reviews online
- Tenant guarantors are acceptable
Con's 👎
- Annual service fees are charged
- You need a guarantor, and if you stop making your monthly payment, they will need to step in.
The basics ✍️
- Maximum age of 70 for both you and your guarantor
- You and your guarantor need to be over 21
- For financially linked applicants, you and your guarantor need to be able to afford the loan in your own right, with separate income and expenditure.
- For homeowner guarantors and applicants, there must be no mortgage arrears for last six months
- All applicants and guarantors must be UK Residents
- You will need a valid UK bank account
- You need to be solvent, so not in a DMP (debt management plan), IVA (Individual Voluntary Arrangement), Trust Deed (Scotland), or bankrupt
We always suggest comparing loans and researching other lenders before applying