Compare Guarantor Loans

  • Guarantor loans can allow borrowers with poor credit ratings to get a loan.
  • A guarantor will need to repay the loan should the borrower default.
Promotion
Amigo Guarantor Loans
  • Representative 49.9% APR
  • Borrow up to £10,000
  • Fast payout – Get the money in 24 hours
  • 'Best credit builder 2018' (Moneynet Award)
  • No hidden costs – No set up or early repayment fees
    • UK Credit Guarantor Loans logo

      UK Credit Guarantor Loans

      • Representative APR
        39.9% APR
      • Available Amounts
        £1,000 to £10,000
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Homeowner or Tenant

      Guarantor Criteria

      • Must be aged 21 to 70 at the start of the loan term
      • Must be a UK resident (if in Scotland, both applicant and guarantor must reside in Scotland)
      • Must have a good credit history
      • Tenants and homeowners accepted (tenant loan - £6,000 maximum)

      Borrower Criteria

      • Must be aged 18 to 70
      • Must be a UK resident
      • Must not be recently bankrupt, in an IVA or a Debt Management Plan
    • Talk Loans logo
      Broker

      Talk Loans

      • Representative APR
        49.7% APR
      • Available Amounts
        £500 to £15,000
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Homeowner or Tenant

      Guarantor Criteria

      • Must be aged 21-75 (over 75 occasionally considered)
      • Must be a UK resident
      • Must have a good to fair credit history
      • Guarantor can be tenant or homeowner
      • Must be able to afford repayments if borrower defaults

      Borrower Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must not be on bankrupt or in an IVA
      • Must be able to afford repayments
    • Amigo Guarantor Loans logo

      Amigo Guarantor Loans

      • Representative APR
        49.9% APR (variable)
      • Available Amounts
        £500 to £10,000
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Homeowner or Tenant

      Guarantor Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must have a good credit history
      • Tenants and homeowners accepted

      Borrower Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must not be on an active bankruptcy, IVA or equivalent
    • Buddy Loans logo

      Buddy Loans

      • Representative APR
        49.9% APR
      • Available Amounts
        £1,000 to £7,500
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Homeowner or Tenant

      Guarantor Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must not be on an active bankruptcy, IVA or equivalent
      • Guarantor does not need to own a home

      Borrower Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must have a good credit history
    • TFS Loans logo
      Offer

      TFS Loans

      • Guarantor must be a homeowner
      • Representative APR
        39.9% APR (until 30/06/18)
      • Available Amounts
        £1,000 to £15,000
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Homeowner Only

      Guarantor Criteria

      • Must be a UK Homeowner
      • Must be aged between 18 to 75
      • Must be in receipt of a regular income

      Borrower Criteria

      • Must be 18 years old
      • Must have been in employment for 1 month, or self-employment for 3 months
      • Must be a homeowner for loans of £8,000 to £12,000
      • Must not be currently Bankrupt, in an IVA or a Debt Management Plan
    • Talk Loans logo
      Broker

      Talk Loans

      • Guarantor must be a homeowner
      • Representative APR
        39.9% APR
      • Available Amounts
        £500 to £15,000
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Homeowner only

      Guarantor Criteria

      • Must be aged 21-75 (over 75 occasionally considered)
      • Must be a UK resident
      • Must have a good to fair credit history
      • Guarantor must be a homeowner
      • Must be able to afford repayments if borrower defaults

      Borrower Criteria

      • Must be aged 18-75
      • Must be a UK resident
      • Must not be on bankrupt or in an IVA
      • Must be able to afford repayments
    • GuarantorLoan.co.uk logo

      GuarantorLoan.co.uk

      • Applicant and Guarantor must both be Homeowners
      • Representative APR
        29% APR
      • Available Amounts
        £1,000 to £10,000
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Homeowner Only

      Guarantor Criteria

      • Must be aged 25-71
      • Must be a UK resident
      • Must have good credit
      • Must be a homeowner

      Borrower Criteria

      • Must be aged 25-71
      • Must be a UK resident
      • Must have reasonable credit
      • Must be a homeowner
    • George Banco logo

      George Banco

      • Representative APR
        49.7% APR
      • Available Amounts
        £500 to £10,000
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Homeowner or Tenant

      Guarantor Criteria

      • Must be 25+ years of age
      • Must have a UK bank account with a valid UK debit card
      • Must have a good credit history
      • Must not be subject to a current Individual voluntary arrangement (IVA) or bankruptcy order
      • Must be a UK resident (excludes Isle of Man and Channel Islands)
      • Must have a minimum income after tax of £1,000pcm (inclusive of pensions)
      • Must be a parent or relative to act as a student Guarantor

      Borrower Criteria

      • Must be 18+ years of age
      • Must have a UK bank account with a valid UK debit card
      • Must not be subject to a current Individual voluntary arrangement (IVA) or bankruptcy order
      • Must have a regular income
      • Must be a UK resident (excludes Isle of Man and Channel Islands)
    • TrustTwo logo

      TrustTwo

      • Guarantor must be a homeowner
      • Representative APR
        49.5% APR
      • Available Amounts
        £500 to £10,000
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Homeowner only

      Guarantor Criteria

      • Homeowners only
      • Must be aged 25 - 74
      • Must have a good credit history

      Borrower Criteria

      • Must be over 18
      • Must not be declared bankrupt or in IVA or debt management plan
    • TrustTwo logo

      TrustTwo

      • Representative APR
        49.9% APR
      • Available Amounts
        £500 to £10,000
      • Min / Max Terms
        1 to 5 years
      • Guarantor Type
        Tenant or living with parent

      Guarantor Criteria

      • Guarantor can be tenant or living with parents
      • Must be aged 25 - 74
      • Must have a good credit history

      Borrower Criteria

      • Must be over 18
      • Must not be declared bankrupt or in IVA or debt management plan
    • Juo Loans logo

      Juo Loans

      • Representative APR
        49.9% APR
      • Available Amounts
        £1,000 to £3,000
      • Min / Max Terms
        1 to 3 years
      • Guarantor Type
        Homeowner or Tenant

      Guarantor Criteria

      • Aged between 25 and 65
      • Must live at a UK address and is not a resident of the Channel Islands
      • Must be full time or part time employed
      • Must be paid monthly or 4 weekly basis
      • Must have a UK bank account
      • Guarantor must be the borrowers close friend or relative
      • Guarantor cannot be the spouse or partner of the borrower

      Borrower Criteria

      • Aged between 18 and 65
      • Must live at a UK address and is not a resident of the Channel Islands
      • Must be full time or part time employed
      • Must be paid monthly or 4 weekly basis
Our comparison service features a selection of providers from whom we receive commission. This table is initially ordered according to our commercial arrangements. You can use the options above the table to order it according to various criteria.

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Guarantor Loans FAQ

What is a guarantor loan?

A guarantor loan is a form of unsecured loan, where another person takes on the responsibility of any accrued debt if the individual who originally took out the loan is unable to make repayments or misses repayments. This type of loan is generally regarded as a useful solution for those with a poor credit rating, or little credit history, as otherwise they may struggle to be accepted for a good loan product.

It's important to remember with guarantor loans that the interest costs can sometimes be quite high, and you will need to have a good relationship with your chosen guarantor, as they are risking the loss of their property and assets if you fail to make repayments.

What are the pros and cons of guarantor loans?

Guarantor loans are often aimed at people who might struggle to obtain a loan through traditional means - due to a poor credit rating, for instance. These loans often allow individuals to borrow a higher amount than they would be able to based on their financial history alone, and may even improve their credit rating.

Guarantor loans make it easier for individuals to obtain the finances they need and pay back their debts without resorting to other bad credit options. However, guarantor loans can be expensive, with higher APRs than other forms of personal loans and the impact on the guarantor themselves needs to be carefully considered.

Could a guarantor loan improve my credit rating?

If payments for your guarantor loan are made on time, your credit rating could begin to improve, or you may be able to build up a non-existent rating. Of course, if you don't make your repayments, you could suffer from an even worse credit rating.

Would I be eligible for a guarantor loan?

To be eligible for a guarantor loan, you'd need to be over 18 years old, and hold a UK bank account. You may also need to demonstrate to lenders that you can make repayments by showing you have a regular salary or income.

Who can act as my guarantor?

Almost anyone could act as a guarantor for your loan, so long as they aren't financially linked to you (such as a spouse). A guarantor might be a work colleague, friend, or family member.

For your chosen guarantor to be accepted by a lender, they will usually need a good credit history themselves, to be a UK homeowner, and be over 21 years of age. Guarantors will need to undergo a credit check, and provide bank details, proof of ID, and bank statements.

How much can I borrow with a guarantor loan?

The amount that you're able to borrow with a guarantor loan will depend on the lender that you choose, as well as your affordability - in other words, how much you can afford to repay each month based on your current income.

Other factors that might impact the amount you're able to borrow include the length of the loan term, and your relationship with the lender (i.e. whether you're a repeat customer).

How much interest will I have to pay?

The amount of interest that you'll need to pay on a guarantor loan will depend on the lender you choose, the amount that you borrow, and the terms of your loan. Your rates of interest will also change depending on your credit rating.

What happens if I default on a guarantor loan?

If you default on a guarantor loan, or you're unable to manage your payments, your guarantor will be required to pay instead. Your lender might also continue to chase you for the remainder of the loan, plus any interest, and if no-one makes repayments, then you and your guarantor may be taken to court.

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