Lowest Rate Guarantor Loans
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- See our lowest rate loans below
- Amounts (£) based on a £3,000 loan over 36 months (for illustration only)
- Questions? See our FAQ's
|Lender||Per Month||Total Repayable||Rep APR|
| UK Credit |
|1 + 1 Loans||£134||£5,177||47.8%||Apply|
|Guarantor My Loan||£145||£5,226||48.9%||Apply|
| UK Credit |
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Frequently asked questions
How do I find the cheapest loan?
- Fill out our 3-minute form to get no obligation loan quotes 📋
- These are for people with a poor credit score.
- ON getting a quote there are zero fees and zero affect your credit file.
How do I find out the costs?
- By completing the 3-minute form you’ll get instant quotes from lenders who’ve accepted your application (in principal).
- This will allow you to compare the different loans and their 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 39.9% - 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.
What are the implications of being a guarantor?
- We have a dedicated page all about being a guarantor 🧑🤝🧑
- For help on finding a guarantor, click here.
Can I get more info on loans with a guarantor?
- Certainly, we have more information here.
Are loans cheaper if I have a good credit history?
- Yes 👍
- If you’ve checked your credit file and have a good credit history, then suggest you could go to a well-known compare loans 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.
Why’s it hard to find affordable loans with a poor credit history?
- The most common way to a loan is the high street banks, but most have decided to only lend to people with a clean credit file 😠.
- So many people start their search with frustration and being turned down!
- Specialist lenders now service the poor credit market, lenders that many people have not heard of.
- We set up this website to make this search much easier for you.
- Quickly find affordable loans by filling out this 3-minute form.
What other bad credit loans are there?
- The other main types are payday, instalment, and doorstep:
- Payday - very short-term loans typically between £50 - £500 for up to four weeks (to your next payday) with rates up to about 1,509% APR.
- Instalment - small loans typically between £50 and £2,000 taken over 3 to 24 months, with rates typically from 300% to 1,500% 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 270% to 400% APR.
Why are these other loans more expensive?
- Because they do not have someone with a clean credit history guaranteeing the loan repayments.
- Typically default rates for guarantor loans are lower than other poor credit loans, so they can afford to charge lower interest rates.