UK Credit
Guarantor Loans from £1,000 to £10,000

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UK Credit is now one of the major players in the UK guarantor loans market.

They have a distinct product offering and will lend to those whose guarantors are both tenants and homeowners. They do stand out, as if your guarantor is a homeowner, then they have very competitive rates from as low as 37.9%. UK Credit have a very clear pricing structure and charge more or less depending on whether or not your guarantor is a homeowner. See their rates.

Homeowner Loans 2

Amount: £5,000 - £7,500

Term: 24 – 60 Months

Representative APR: 37.90%

Homeowner Loans 1

Amount: £1,000 - £5,000

Term: 12 – 36 Months

Representative APR: 39.90%

Tenant Loans

Amount: £1,000 - £4,000

Term: 12 – 48 Months

Representative APR: 54.90%

So as you can see, UK Credit so offer some of the best rates in the market, and with a large number of positive customer reviews, they certainly are a good company worth considering.

Loans from
£1,000 to £10,000
Repayment duration
12 to 60 months
APR
39.9% representative
See representative example
Lending performance rating
68.7 out of 100
Time to Apply
1m 45s - Average

Customer Reviews

4.7 out of 5 from 1,301 online reviews

Read Reviews

Loan Highlights

UKCredit accept tenant guarantors

You can get a quote on their website without it affecting your credit history

Once your loan has been paid out, you can manage your account online.

More features

Minimum Criteria

You need a guarantor with a good credit history to back your application

You need to be between 18 and 75 to apply

You need a bank account with debit card and direct dedit facility to apply

Fees

Maximum APR 69.9%

Arrangement fee: £0

Early repayment fee: £40.00

Late payment fee: £0

Top 3 loans by score, reviews and cost

Score

Amigo Loans 82.9 / 100
George Banco 72.5 / 100
Bamboo 71.3 / 100

Reviews

Amigo Loans
4.7 out of 5 from 20,198 customer reviews
Bamboo
4.9 out of 5 from 4,934 customer reviews
George Banco
4.9 out of 5 from 2,811 customer reviews

Cost

UK Credit 39.9%
1+1 Loans 47.8%
Guarantor My Loan 48.9%
Compare All Guarantor Loans

Compilation of UK Credit's online reviews

 
4.7 out of 5 from 1,301 reviews

UK Credit has a received good number of online customer reviews on Trustpilot.com. Most reviews however were on Trustpilot:

  • 1,301 reviews
  • Excellent - 83%
  • Great - 13%
  • Average - 2%
  • Poor - 1%
  • Bad - 1%

See below a compilation of all reviews, both good and bad.

 

 

Our verdict of UK Credit

By Jon Edward

Lender performance rating 68.7 out of 100

 

UK Credit currently offer the most attractive Representative APR of all our lenders at 39.9%. However, to get this rate your guarantor will need to be a homeowner.

As a comparison (based on Representative APR), if you get a £3,000 loan with UK Credit for 36 months the total sum re-payable is £4,827.60, this is £442.44 less than the same loan from Amigo**.

UK Credit also enjoys over 1,000 positive online review on Trustpilot, so are a lender to consider.

** Please note that these figures are based on Representative APR, the rates you are offered may differ dependant upon your personal circumstances.

 
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Loan Description

UK Credit offer loans from £1,000 to £10,000 over periods of one to five years depending on whether your guarantor is a tenant or a homeowner. See below our summary of some of the pros, cons and features of their loans:

Pro's

  • Tenant Guarantors accepted
  • Homeowner guarantors accepted which open you up to a better rate and larger loans up to £10,000
  • Do not insist that you set up a Direct Debit. Standing order, bank transfer and cheques are also accepted
  • Can make overpayments up to three times your monthly payment
  • Your partner can be your guarantor, though will need to be able to show that they can independently afford the repayments.
  • Your guarantor can be employed, self-employed or retired, so long as they have a suitable income
  • The loan is unsecured so neither your, nor your guarantor’s, home is at risk.
  • There are no fees to set up the loan

Con's

  • Limit overpayments to up to three times your monthly payment
  • There is an settlement charge for paying off loans early
  • You will need a guarantor who would be able to make your monthly re-payments if you were no longer able
  • Best rate APR's only available to those whose guarantor is a homeowner

The basics

  • You can apply for a loan as long as you are between 16 and 65 years old
  • Your guarantor needs to be between 25 and 65 at the start of the loan
  • There is a cooling off period, as with all loans, so if you or your guarantor change your mind within 14 days of taking out the loan, you can pay back the money and end the agreement.
  • When you apply there will be a ‘soft search’ done on you credit file which will not show up on your credit file.
  • Loan advance is paid to the guarantor, so the guarantor knows the loan has been paid out.
  • You and your guarantor need to be UK residents
  • Due to law differences, you and your guarantor must both either live in Scotland, or not.
  • You must be solvent, and not in a debt management plan, IVA, Trust Deed (Scotland), or bankrupt
We suggest that before deciding to apply, you take a look at the other lenders
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Representative Loan Example

The following is Representative Example of a UK Credit Loan

39.9% APR Representative (Fixed) Representative Example: £4,500 over 3 years, representative 39.9% APR fixed. Monthly payment £201.15. Annual interest rate 34.05% fixed. Interest payable £2,741.40. Total repayable £7,241.40.

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UK Credit Limited

Companies House Info

• Co Reg No
06929807
• Website
ukcredit.co.uk
• Telephone
01603 896880
• Address
St Crispins House Duke Street, Norwich, Norfolk NR3 1PD

FCA Registration

• FCA Ref No
631483
• Firm Name
UK Credit Limited
• Principal Place of Business
St Crispins House Duke Street, Norwich, Norfolk NR3 1PD

Data Protection Info

• ico Reg No
Z2022318
• Data Controller
UK Credit Limited
• Address
St Crispins House Duke Street, Norwich, Norfolk NR3 1PD
• Other Names
None
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