- Apply for £100 - £15000
- Credit Problems OK
- Non-Homeowner Guarantors accepted
- Multiple Loan Options
- No Fees or Charges§
- Can be paid within 24 hrs
Guarantor Loans could enable you to get an unsecured loan of £100 to £15,000 even if you have a poor credit history. If you provide a guarantor then there is much less reliance put on your credit score.
Loans with a guarantor are very popular because you could borrow between £100 and £15,000 with a close friend or family member guaranteeing your loan repayments. If you have bad credit you will probably find a guarantor loan is much cheaper and more flexible than some other forms of bad credit borrowing.
Borrow £100 to £15,000
Poor Credit rating welcome
Multiple loan options
Lessen Credit Score Impact
Can be paid within 24 hours
100% Free Service - No Fees
Guarantor can be either homeowner or non-homeowner/tenant
Our no fees enquiry service will allow you to compare lenders' offers. Typically people who use our free service will receive 3 to 4 loan offers (in principle). And the deals are the same as going direct! You'll save time and will be able to quickly choose the loan that you think is best for you.
There are 2 types of these loans - £500 to £15,000 (longer term) or £100 to £750 (short term)
These are the steps to take to get a guarantor loan online:
The basic idea of this type of brrowing is simple - if you want lenders to ignore a historical credit issue and give you access to an unsecured loan of up to £15,000 then you need to provide an acceptable guarantor. This is someone who trusts you to repay your loan but could step in and help you out if you had a problem meeting a repayment.
What a loan with a guarantor does is break the link between your credit past and your credit future. As less reliance is put on credit scoring (in most situations) whether or not you can borrow depends more on your ability to:
Think of the arrangement as swapping the impact of a credit score with the need for someone to guarantee your repayments. So, if you are one of the millions of people in the UK who have a poor credit history then a guarantor loan could help you. We work with 99% of all the UK's respected lenders and provide a free enquiry service so you can very quickly discover which of them can help you.
Our no fees broking service helps you by:
Our technology talks to 99% of the UK's top guarantor loan lenders. When you complete our short enquiry form we immediately find out which lenders will lend to you in principle. On average you will get 4 loan offers giving you the chance to compare.
We tell you who these lenders are and what they are offering, and give you links to enable you to immediately complete your loan. You save loads of time filling in lots of forms - and our service is completely FREE! You'll get the same rates as if you went direct. But this way you get more choice!
A Guarantor is simply a family member or close friend who trusts you enough to be prepared to back you when you apply for an unsecured loan. They guarantee to repay the loan if you default on repayments. Being a guarantor for someone is not something everyone will be prepared to do, but the principle of guarantors has been around for a long, long time (utility companies have used this method for decades).
If you believe you can get someone to guarantee your loan then you should be able to get one - it's that simple.
For someone with a poor credit history an unsecured loan with a guarantor is likely to offer a low APR / low rate compared to other forms of bad credit borrowing that don't require one. Depending on lender the representative APR for this type of loan is in the region of 26.9% to 54.9% which is quite a bit lower than the 70+% that are offered by other bad credit lenders.
Nobody is saying that 26.9% is a low interest rate nor that guarantor loans are cheap, but for someone who has an impaired credit status they may be the cheapest type of credit they can reasonably expect to qualify for.
As with all borrowing you need to make sure that you can afford the loan repayments and you do not simply make your financial position worse. You should expect any lender you apply to to request income and expenditure figures so that they can properly assess your loan's affordability.
Although the loan is provided with a guarantor the loan is in your name - this also means that on successful repayment of your loan it is your credit rating that is improved, not the guarantor's.
If right now you don't think you could find a guarantor then consider this - over 10% of actual borrowers also initially thought they couldn't find one! And, they don't have to own their home. But if you really don't think you will be able to find a guarantor then try our other unsecured loan broker service.
You don't have to find your guarantor before you apply. Our enquiry form does not require the information and our lenders can accept you in principle without a guarantor's details. However, we would recommend that you start to consider which family members or friends to approach. The sooner you sort this out the sooner you can complete your loan.
We'd love to say thay you can always get your loan the same day. It is possible but it depends on numerous factors some of which are in your control and some of which are not. So, what can you do to maximise the chance of a same day payout:
The correct term for a loan with a Guarantor is a Guarantor Loan, although sometimes these are mistakenly called Guaranteed Loans. No loan is guaranteed as the lending decision will always include an assessment of the applicant's ability to repay; the so-called affordability check.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
Representative Example: Borrow
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