Lowest Rate Guarantor Loans
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Lowest rate loans in the table below
- Representative examples below based on borrowing £5,000 over 36 months (for illustration only)
- Questions? See our FAQ's
|Lender||Rep APR||Per Month||Total Repayable|
| UK Credit |
| TFS |
|1 + 1 Loans||47.8%||£239.73||£8,630.28||Apply|
|Guarantor My Loan||48.9%||£245.25||£8,828.88||Apply|
| TFS |
| Bamboo |
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Frequently Asked Questions
How to find the cheapest loan?
Fill out our 2-minute form to get no obligation loan quotes 👍
- Poor credit - our lender's loans are for people with a 'poor credit score'
- For quotes - when getting quotes, there are:
- Zero fees
- Zero affect your credit file
- Zero obligation
- Quick form - the online application takes just 2-minutes
- Automatically sent to over 35-lenders - our fully automated online system will then get quotes from all the guarantor and no guarantor lenders who have pre-accepted your application.
- Quotes in seconds - within 30-seconds these are presented to you, you just have to choose your preferred quote.
How do I get actual costs?
By completing our 2-minute form you’ll get instant quotes from lenders who’ve accepted your application (in principal).
- Compare - this will allow you to compare the different loans and their costs.
- Costs - for a detailed breakdown of all costs, your chosen lender will provide this (the amount you’ll pay will depend on your personal circumstances).
For a rough estimation of loan, costs see our loan calculator.
How do guarantor loans work?
They are typically the most affordable loan for those with a poor credit history 😀
- Representative APRs are typically 29.9% - 54.9% - so usually much cheaper than payday, instalment, and doorstep loans.
- They’re cheaper as you need to find a friend or family member with a clean credit history - to back your loan application.
If you cannot get a loan backer, we also do 'no guarantor loans'.
Why is it hard to find an affordable loan with bad credit?
Turned down by a high street bank 🤔
Many people start their loan search with the frustration of being turned down by high street lenders (who do not lend to people with a poor credit score!)
- Alternative specialist lenders - a new breed of lenders now service the poor credit market, companies that many people have not heard of.
- We can help - we set up this website to make this search much easier for you.
- Quickly find affordable loans - fill out this 2-minute form, we will contact over 35-lenders, and get back to you with quotes in seconds!
Are loans cheaper if I have a good credit history?
- If you have checked your credit file and have a good credit history - you could go to a well-known compare loan website to see if you meet their lender's criteria.
- We are not your best option if you have a clean credit history.
We suggest that you don’t send off loan applications unless you’re sure you meet the criteria, as failed loan applications can affect your credit file.
What other bad credit loans are there?
The other main types are payday, instalment, and doorstep
- Payday - very short-term loans typically between £100 - £1,000 for up to four weeks (to your next payday) with rates up to about 1,314% APR.
- Instalment - small loans typically between £100 and £2,000 taken over 2 to 24 months, with rates typically from 529% to 1,314% APR.
- Doorstep - small loans where the lender’s agent collects weekly payments from your house from between £100 and £1,500 over 3 to 12 months, with rates typically from 535% to 716% APR.
Why are these other loans more expensive?
No guarantor loans are typically more expensive because:
- No guarantor - they do not have someone with a clean credit history guaranteeing the loan repayments.
- Higher Defaults - typically more people default when they do not have a guarantor, so the lender must recoup this with higher interest charges to all borrowers.
Can I get more info on 'loans with a guarantor'?
What are the implications of being a guarantor?
- Legal liability – will assume joint legal liability of the debt along with the borrower, and all that being legally liable for a debt entails.
- Make re-payments – if the borrower defaults, the guarantor will be required to make the monthly repayments on their behalf.
- Credit file – if the guarantor does not make the repayments, this will be shown as a default on their credit file.
It's because of this arrangement, that the guarantor loan is the lowest cost bad credit loans