Guarantor Loans

Choose your guarantor loans amount

Representative Example: Borrow £4,000 and pay back your loan over 36 months. Monthly payments of £194.78.
Total amount repayable is £7,012.08. Interest payable is £3,012.08. APR of 49.7%. Interest rate of 41%. Fixed rate.

Poor Credit Guarantor Loans

With our simple bad credit guarantor loans you can get the money you are looking for even if you have missed payments, defaults or county court decisions against you. All you need is a suitable guarantor with a fair or better credit score who has the means to repay the loan if you can’t. In fact many of the guarantors we speak to will have had credit problems in the past. As long as this wasn’t recent, and there’s a reasonable explanation, we can still help!

If you are bankrupt or in an IVA then things get a bit more complicated. In this situation we are not able to help. However, if you have been insolvent previously and are now discharged we are happy to consider the application. Debt management plan? If you want to get out of it and pay off your debt with a consolidation loan then apply today and we will see what we can do.

Low credit score guarantor loans can improve your credit file and show you can make repayments responsibly, meaning a couple of years down the line if you keep everything up to date you should be able to get even better rates. If you have a damaged credit history and want to sort your loan out quickly you are in the right place.

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What are Guarantor Loans?

A guarantor loan is a type of unsecured loan available in the United Kingdom where somebody else supports the application and takes responsibility for the debt if the main borrower is unable to meet their repayment commitments. You can borrow from £500 to £15,000 through a guarantor loan, a product that was made popular by Amigo Loans (previously FLM Loans) and is now being offered by over 10 lenders including Bamboo Loans, UK Credit and George Banco.

Say you are struggling to get a loan in your name due to poor credit or perhaps a thin credit file. The reason you are finding it difficult is because lenders are assessing you as “high risk”. By providing a guarantor the lender risk is offset and they are a lot more likely to lend to you. If you would like any more information on how a guarantor loan works one of our loan experts would be happy to talk you through it.

How Do Loans with a Guarantor Work?

An unsecured guarantor loan works by offsetting the risk of lending to someone with a bad credit history with the help of a friend or family member acting as guarantor. Because there is an additional party involved, the application process is slightly different (and longer) compared to loans without a guarantor.

Basic Steps

Here are the basic steps for applying for a same day guarantor loans:

  1. The main borrower starts an application and enters their basic details along with some income and expenditure information.
  2. The guarantor then enters their details into the application form (this does not have to be done at the same time as the main applicant).
  3. Once both borrower and guarantor have entered their details one of our loan experts will call up to confirm the details are correct.
  4. We will then find you a suitable guarantor loan provider based on yours and your guarantor’s current situation.
  5. Once we have identified a suitable lender for you both, your details are passed over to the lender who will run all their credit searches and affordability assessments.
  6. If they lender approves you, they will generally speak to both the main applicant and the guarantor – and in some cases request some documentation to confirm some of your details. An example of this could be providing a photo of a payslip to prove your income.
  7. If the lender can’t help, we will find you an alternative lender and the process repeats.
  8. If all goes well, the money will be paid into the guarantor’s bank account. The guarantor then transfers the money into the main applicant’s bank account, so the guarantor is fully aware the money has been paid out and their responsibility has begun.

Low Credit Score

Just because you may have been through some hard financial times doesn’t mean you shouldn’t get access to simple loans at competitive interest rates. Here at Talk Loans we understand life isn’t always perfect. You may have lost your job a couple of years ago which caused you to miss some payments on your mobile phone, or car finance. It happens. This is why we are happy to help even if you have a poor credit score.

Missed payments or defaults are more common than you might think in today’s economy. So don’t fret. Get in touch today and see what our bad credit experts based in the United Kingdom can do to help.

Poor Credit

Learn more about what your credit history is here. If you have poor credit, then a loan may not be the best option for you. If you are struggling to meet your commitments then unless you are looking to consolidate higher cost debt you may want to rethink your need to borrow any money. When you take out low credit guarantor loans it’s important to remember that your guarantor is doing you a massive favour, and by not being 100% sure you can afford the repayments you could be putting them in an unfortunate situation. While the lenders will always run affordability checks on both you and your guarantor to ensure that the loan repayments can be met, it is also up to you and your guarantor to be prepared for the different situations that may arise over the term of the loan.

If you would like to talk through the repayments our loan experts are here to help. They can help you decide if you are borrowing the right amount of money over the correct loan term to make things as hassle free as possible. You can call to speak to someone today on 01603 391104 or make an application at the top of this page for bad credit guarantor loans.

No Credit History

If you haven’t had any credit problems before, perhaps you haven’t had any credit at all? If you are young, or perhaps have just had phone bills and finance in a family members name (which is extremely common), you may need a helping hand getting onto the financial ladder. Without proof of your repayment ability on your credit file lenders are often unwilling to help you out with the loan you are looking for.

With a homeowner or tenant guarantor to back up your application, even if you have no credit history at all you can still take out a guarantor loan through one of our lending partners.

No Credit vs Poor Credit

Poor credit means you have had credit and then missed payments or refused to pay the money back that you owe. Whereas having no credit means you have never taken any finance or other bills out in your name. Interestingly both can cause you to have a low score, as one show’s that at a time you couldn’t meet your credit obligations and one show’s that you have never had the opportunity to make repayments. The similarity with both is that neither of these are positive attributes. Without proof of paying your debts then there is nothing to add to your score.

Credit at Difference Addresses

Sometimes you may be told you have negative credit because credit can not be found at your current address. In a situation such as this you should provide the credit provider with your previous addresses to see if they can find some credit history. It’s also worth ensuring you are on the electoral register at your current address so not only can you be more easily linked to your address but also to ensure your credit history is up to date and accurate.

Are They Right for Me?

Guarantor loans are a double-edged sword, just like any type of borrowing, and there are many things you should consider before taking one out.

Do you need to borrow the money?

Do you really need to borrow the money? Can you save? Or wait a month? If you do and are looking to borrow a fixed sum of money and pay it back over a period of up to 5 years, then this type of loan could be an ideal option.

Can you afford the repayments?

The most important thing to take into consideration when taking out a loan is that you can afford the monthly repayments. This should mean that you have enough spare disposable income every month to make the payment and you do not believe your circumstances will change throughout the loan term (which could be from 12 months up to 5 years).

Is the guarantor happy to step in if anything goes wrong?

The guarantor is legally obligated to step in and make payments on the main applicant’s behalf if they are unable to. It is important the guarantor understands this and is happy to help if things go wrong. 

At the end of the day it is up to you and your guarantor to decide whether this is the type of loan you want. If you need any more information on how this finance type works or how much the repayments would be you can speak to one of our loan experts who will be happy to help.


Can My Loan Be Written Off?

Having a guarantor on the loan, whether they are a homeowner or a tenant, means that if you go into a debt management plan, individual voluntary arrangement (IVA) or in extreme cases go bankrupt the guarantor will still be liable for the outstanding loan balance. It is not written off by the lender.

This means that if you do find yourself in one of the situations mentioned above you may want to consider continuing your guarantor loan repayments so that your guarantor does not have to take full responsibility.

In the case that you physically can’t repay the debt, then the guarantor will need to step in and help. If the guarantor finds themselves in a situation where they are also in one of the positions above, then the lender will decide on how best to proceed.

What’s with the High Interest Rate?

In the grand scheme of things, loans with a guarantor sit in the middle when it comes interest charged. They can be, for example, a lot more cost effective than a bank overdraft or a short-term instalment loan with interest rates in the hundreds or even thousands – as the interest charged is a lot lower. Then again, they can be a lot more expensive than a bank loan or similar with rates from around 3%.

When explaining what a guarantor loan is, I was explained that a guarantor helps limit the risk to the lender. Another way they limit the risk is to charge an interest rate that will offset the possibility of the money not being repaid. All lenders experience “bad debt” and the interest charged will often reflect the chances of this happening.

A great way to limit the expense of debt in general is to only borrow the amount you need over the shortest length of time. This means you can keep your repayments affordable and ensure you are not being charged a large amount of interest over the life of the loan.

Best Guarantor Loans Available

Are you looking for the best guarantor loans on the market? We can help! First you need to decide what “best” means to you though. For one person best may mean the lowest rate, and for another it may mean the most likely to accept you, or even the quickest to pay out. We can help you compare your options and ensure you get the most optimum guarantor loan that meets your precise needs. We are guarantor loan experts after all.

What makes us experts? We are a UK based operation and have been working in the industry for most of our lives and our dedicated staff know more about some guarantor lenders than the lenders themselves! Our experience spans brokerages and lenders and we understand guarantor loans from start to finish.

Our Lending Partners


Several lenders now offer loans with a guarantor. We work with the following to find you the best option depending on your circumstances.


guarantor loans made easy


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Representative Example: Borrow £4,000 over 36 months. Monthly repayment of £194.78. Total repayable is £7012.08. Interest payable is £3012.08. Fixed APR of 49.7%. Interest rate of 41% per annum. Representative APR 49.7% (fixed).

Talk Loans is a trading style of Butler Westbury Limited Registered in England No 9035270. Authorised and regulated by the Financial Conduct Authority Reference No. 625156. Registered with the Information Commissioner’s Office ZA090336. We are a loan brokerage and we work with a carefully selected panel of lenders. For details of how we will collect and process your personal data, please see our Privacy Policy. We do not charge a fee for our service but will receive commission from those lenders who either accept an application from us, or complete a loan for you. Registered office address: Unit 7, Beech Avenue Business Park, Beech Avenue, Taverham, Norwich, NR8 6HW

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