- Apply for £100 - £15000
- Credit Problems OK
- Non-Homeowner Guarantors accepted
- Multiple Loan Options
- No Fees or Charges§
- Can be paid within 24 hrs
The APR% depends on the borrower's credit profile. Rate varies between 26.9% and 49.7%. They can accept guarantors who are NON-HOMEOWNERS as well as homeowners.
|Representative APR||Loan Term (months)||Loan Amount (£)||Instant decision||E-signature available|
|49.7%||12 - 60||1,000 - 8,000|
|Representative Example: Borrow £2600 for 36 months. Repay £126.61 each month. Total interest of £1957.89. Total repayable £4557.89. Interest rate 41%. Representative APR 49.7% fixed.|
After a rather extended period of product and systems development Bamboo Loans was launched into the guarantor loan market in 2014. No expense has been spared in developing leading edge processes to cater for online applications. There is a strong probability of this lender making a significant impact on the UK guarantor loan market. Not least because it is possible to borrow up to £8000 using a guarantor who is a non-homeowner. And, unlike some other lenders, Bamboo Loans charges the same interest rate for loans where the guarantor is a non-homeowner as they do for loans where the guarantor is a homeowner. The rate is dependent on the credit profile of the borrower with the lowest rate being 26.9% APR.
We expected Bamboo Loans to have a large impact on the UK guarantor loans market. Offering a loan of up to £8000 where the guarantor is a non-homeowner certainly put the cat amongst the pigeons. And to do this without necessarily charging a greater APR% should have been dramatic. However, other lenders entered with a similar proposition and this took the wind out of Bamboo's sails. We expect them to continue in the guarantor loans market while adding other products to their portfolio too.
When it comes to getting you your guarantor loan our online service is second to none. In fact Solution-Loans.co.uk has scored based on 198 ratings & 31 user reviews for its guarantor loans service.
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