Guarantor Loans | Loans With a Guarantor @CreditRaters.com page

Warning: Late repayment can cause serious money problems, for help and advice please go to moneyadviceservice.org.uk

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  • Loan Amount
    £500 - £500
  • Loan Term
    4 Months
  • Interest Rate
    0%
  • APR
    38.6%
Representative example: Total amount of credit of £1,000 over 12 months. The first payment for each advance is £83.35 followed by 5 monthly repayments of £83.33. 12 monthly membership payments of £8. Rate of interest 0% p.a. (fixed), Representative 38.6% APR. Total amount payable £1,096. Creditspring – £500
  • Borrow £500 twice a year, available on demand
  • 0% interest rate, only pay back what you borrow plus your monthly membership fee
  • 14 days to change your mind before you can borrow. Then you'll be able to borrow whenever you need it
  • Loan Amount
    £250 - £250
  • Loan Term
    4 Months
  • Interest Rate
    0%
  • APR
    87.4%
Representative example: Total amount of credit of £500 over 12 months. 8 monthly repayments of £62.50 and 12 monthly membership payments of £6. Rate of interest 0% p.a. (fixed). Representative 87.4% APR. Total amount payable £572. CreditSpring – £250
  • Borrow £250 twice a year, available on demand
  • Membership fee is £6 per month (£72 a year)
  • Repay each advance in 4 monthly payments
  • 0% interest rate, you pay back only what you’ve borrowed, plus your monthly membership fee
  • Loan Amount
    £3000 - £50000
  • Loan Term
    60 Months
  • Interest Rate
    10.87%
  • APR
    21.8%
GOOD CREDIT SCORE: Loan amount £5000 – 48 monthly payments £129.17 Total cost of credit £1200.16 – Total amount payable £6200.16 – Representative example 12.9% APR. This is a yearly flat rate of interest of 6%. This is a fixed rate.
What Credit
  • Low Rate Car Finance Packages
  • Choose The Car From Any UK Dealer
  • Finance For Good & Bad Credit Profiles
  • Same Day Drive Away Car Loan Schemes
  • Flexible Repayment Terms For Your Car Loan
  • Loan Amount
    £100 - £400
  • Loan Term
    8 Months
  • Interest Rate
    102.4%
  • APR
    466.37%
Representative Example: £200 loan repayable over 34 weeks at £10 per week, Rate of interest 107.1% p.a fixed; Representative 466.37% APR, Total amount payable is £340 Morses Club
  • An easy application process
  • Quick decision
  • No restrictions on spending
  • Loan Amount
    £550 - £50000
  • Loan Term
    36 Months
  • Interest Rate
    159.70%
  • APR
    450.5%
If you borrow £850 over 18 months at a flat rate of 132% per annum (fixed) with a representative 450.5% APR you will repay 17 monthly payments of £140.72 and 1 payment of £140.76, repaying £2,533.00 in total. Loans2Go Logbook Loans
  • Use your vehicle as collateral to increase the chance of acceptance
  • Generous and flexible loan terms of 12 – 36 months
  • Retain complete use of your vehicle during the loan
  • A lender with more than 15 years of industry experience

Getting a loan in place if you’ve got bad credit can be a minefield and, whilst we deal with plenty of specialist bad credit lenders, there may be times when a guarantor is needed to secure your funds.

Let’s take a closer look at how guarantor loans work and what you can do to get a great deal today.

What Are Guarantor Loans?

Guarantor loans are a type of loan in which the applicants ability to repay is guaranteed by a third party. Designed for people with a poor credit history, they allow you to borrow funds that you wouldn’t normally be accepted for on the proviso that a friend, colleague or family member will step in to make payment should you be unable to.

Who Can Be My Guarantor?

Anyone can be your guarantor as long as they know you. This could be a friend, work colleague or family member but they’ll need to be aware what their responsibilities are should you be unable to pay.

The great news is that by keeping on top of your repayments, you’ll actually improve your own credit score rather than your guarantor’s meaning that you may improve your chances of accessing more traditional borrowing methods in the future.

How Do I Apply For Guarantor Loans?

Applying for guarantor loans is quick and easy although there are a couple of extra hoops to jump through when compared to more traditional personal loans.

First, you’ll need to find a guarantor who knows you will enough to vouch for your payments. Remember, they’ll be responsible if you can’t pay so pick someone who trusts you enough to keep up with your payment schedule.

Some guarantor loans lenders like to speak to the guarantor before authorising the loan so, whilst you may be accepted in principle, they won’t be able to sign off the funds until they’ve had either verbal or written confirmation from your guarantor.

Once that’s all done and signed off, funds will usually be transferred directly to your bank account within 24 hours and a copy of the agreement will be sent to both you and your guarantor.

So what are you waiting for? Register with CreditRaters.com today for a free, no obligation guarantor loans quotation and find out why so many people use us for their financial comparisons.