What is a guarantor loan?

A guarantor loan is a personal loan for people who need a little financial help but are unable to get what they need from high-street banks.

Guarantor loans are far cheaper than payday loans and are often the cheapest alternative for people with low credit scores. These loans are used for many reasons, including:

definition of a guarantor loan
  • consolidating debt
  • home improvements
  • vehicle purchases
  • car repairs
  • weddings
  • holidays
  • cosmetic surgery

What about bad credit?

The good thing is we are not overly concerned about bad credit – the most important thing is whether the loan is affordable and that a guarantor is in place to support an application. See it as an old-fashioned way of borrowing money with the trust of a helping hand.

What about fees and charges?

There are no upfront fees and you will only get a loan if the lender thinks it is affordable for both the applicant and the guarantor. Guarantor loans are unsecured too, which simply means that your home will not be at risk.