Guarantor Loans

Choose Your Loan 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.

Guarantor Loans Online

Fill in a straight application form and borrow guarantor loans between £500 and £15,000. You make the repayments on your new loan once a month over 1 year (short term), up to 5 years (long term), ensuring it is affordable and tailored to your personal circumstances. You can borrow for many purposes, including home improvements, car loans, or to pay off a credit card. You can also use us to compare guarantor loans.

Talk Loans work with 9 direct guarantor loan lenders who specialise in helping people borrow money with a bad credit rating or bad credit score. So, by applying with us you not only save time and compare representative APR (your interest rates), but your chances of approval are much higher than if you apply to direct to a lender. All of our lenders operate a responsible lending policy and will carry out a credit check on you and your guarantor.

You may worry we will charge you a fee to get you guarantor loans (which are a type of personal loans) and while this may be true of other brokers, WE WILL NEVER CHARGE YOU A FEE. Not even a single penny. Our service is fully paid for by our lending partners, not our customers.

We work under full transparency and are regulated by the Financial Conduct Authority, (you can check us on the financial services register).

Guarantor Loans

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Comparison Table

Take a look at our straight-forward loans with a guarantor comparison table below. It allows you to compare this type of loan by different loan amounts, loan values, repayments and APRs. Not every lender is the same, and in some situations we may be able to find a slightly more suitable option for you, however we will always try and get you the best deal.

For more information about lender criteria you can make an application and speak to one of our UK based loan experts.

Compare Guarantor Loans

TFS Loans

TFS Loans

Guarantor Type:
Homeowner

Min APR: 29.9%
Max APR: 69.9%
Min Amount: £1,000
Max Amount: £15,000

Loan AmountLoan TermTotal Repayment
£1,00012 months£1,317.36
£3,00036 months£4,829.76
£5,00060 months£10,470.00
£7,50060 months£15,705.00

Representative Example: 36 Monthly Repayments, borrowing £4,000. Total Amount Payable: £6,439.68. 39.9% APR Representative. Rate of Interest 20.33% Fixed Flat Rate. Monthly Repayment: £178.88.

UK Credit

UK Credit

Guarantor Type:
Homeowner

Min APR: 39.9%
Max APR: 47.9%
Min Amount: £1,000
Max Amount: £10,000

Loan AmountLoan TermTotal Repayment
£1,00012 months£1,228.32
£3,00036 months£4,827.60
£5,00060 months£10,465.20
£7,50060 months£15,697.80

Representative Example: 39.9% APR Representative (Fixed) Representative Example: £4,500 over 3 years, representative 39.9% APR fixed. Monthly payment £201.15. Annual interest rate 34.05% fixed. Interest payable £2,741.40. Total repayable £7,241.40.

TrustTwo

TrustTwo

Guarantor Type:
Homeowner

Min APR: 43.8%
Max APR: 43.8%
Min Amount: £1,000
Max Amount: £10,000

Loan AmountLoan TermTotal Repayment
£1,00012 months£1,210.92
£3,00036 months£5,002.20
£5,00060 months£11,014.80
£7,50060 months£16,522.20

Representative Example: Borrowing £4,000 over 3 years at an interest rate of 36.9%p.a. (fixed), you will repay 36 monthly payments of £185.27. Interest payable £2,669.72. Total repayable £6,669.72. Representative 43.8% APR.

1plus1 Loans

1plus1 Loans

Guarantor Type:
Homeowner/Tenant

Min APR: 47.8%
Max APR: 47.8%
Min Amount: £500
Max Amount: £10,000

Loan AmountLoan TermTotal Repayment
£1,00012 months£1,233.00
£3,00036 months£5,178.24
£5,00060 months£11,437.80
£7,50060 months£17,156.40

Representative Example: £3,000 over 3 years, representative 47.8% APR Fixed. Monthly payment £143.84. Annual interest rate 39.7%. Interest payable £2,178.24 Total payable £5,178.24.

Bamboo Loans

Bamboo Loans

Guarantor Type:
Homeowner/Tenant

Min APR: 49.7%
Max APR: 49.7%
Min Amount: £1,000
Max Amount: £8,000

Loan AmountLoan TermTotal Repayment
£1,00012 months£1,235.72
£3,00036 months£5,259.11
£5,00060 months£11,825.37
£7,50060 months£17,738.06

Representative Example: On an assumed loan amount of £2,600.00 over 36 months. Rate of interest 41% per annum (fixed). Representative 49.7% APR. Total amount payable £4,557.89. 35 monthly repayments of £126.61 and a final payment of £126.54.

George Banco

George Banco

Guarantor Type:
Homeowner/Tenant

Min APR: 49.7%
Max APR: 49.7%
Min Amount: £500
Max Amount: £10,000

Loan AmountLoan TermTotal Repayment
£1,00012 monthsUnknown
£3,00036 monthsUnknown
£5,00060 monthsUnknown
£7,50060 monthsUnknown

Representative Example: Borrowing £3,500 over 3 years at an interest rate of 41.4%p.a. (fixed), you will repay 36 monthly payments of £170.56. Interest payable £2,640.16. Total repayable £6,140.16. Representative 49.7% APR.

TrustTwo

TrustTwo

Guarantor Type:
Tenant

Min APR: 49.9%
Max APR: 49.9%
Min Amount: £1,000
Max Amount: £7,500

Loan AmountLoan TermTotal Repayment
£1,00012 months£1,236.96
£3,00036 months£5,271.84
£5,00060 months£11,865.60
£7,50060 months£17,798.40

Representative Example: Borrowing £4,000 over 3 years at an interest rate of 41.2%p.a. (fixed), you will repay 36 monthly payments of £195.25. Interest payable £3,029. Total repayable £7,029. Representative 49.9% APR.

Buddy Loans

Buddy Loans

Guarantor Type:
Homeowner/Tenant

Min APR: 49.9%
Max APR: 49.9%
Min Amount: £1,000
Max Amount: £7,500

Loan AmountLoan TermTotal Repayment
£1,00012 months£1,240.74
£3,00036 months£5,281.50
£5,00060 months£11,872.11
£7,50060 months£17,818.93

Representative Example: Borrow £3,250 for 36 months. Interest (fixed at 41.16%): £2,464.57. Total amount payable of £5,714.67. Representative 49.9% APR. 36 repayments of: £158.57.

Amigo Loans

Amigo Loans

Guarantor Type:
Homeowner/Tenant

Min APR: 49.9%
Max APR: 49.9%
Min Amount: £500
Max Amount: £10,000

Loan AmountLoan TermTotal Repayment
£1,00012 months£1,236.72
£3,00036 months£5,269.32
£5,00060 months£11,857.20
£7,50060 months£17,786.40

Representative Example: Borrowing £4,000 over 36 months, repaying £195.16 per month, total repayable £7,025.76. Interest rate 49.9% (variable).

UK Credit

UK Credit

Guarantor Type:
Tenant

Min APR: 59.9%
Max APR: 69.9%
Min Amount: £1,000
Max Amount: £6,000

Loan AmountLoan TermTotal Repayment
£1,00012 months£1,317.24
£3,00036 months£5,702.04
£4,00048 months£9,039.84
£6,00060 months£15,874.80

Representative Example: 59.9% APR Representative (Fixed) Representative Example: £3,000 over 3 years, representative 59.9% APR fixed. Monthly payment £158.39. Annual interest rate 47.85% fixed. Interest payable £2,741.40. Total repayable £7,241.40.

How We Work

Direct Guarantor Loans

Step 1

Make a simple application by selecting your loan amount above, or by selecting your lender of choice from our comparison table.

Guarantor Loans Online

Step 2

Complete your application and speak to one of our loan specialists to confirm your details and make sure you are getting the best deal.

Low APR Guarantor Loans

Step 3

Complete your loan agreement and finalise your loan with the top guarantor lender available and get the money paid into your account within 24 hours.

Frequently Asked Questions

What loan purposes are acceptable?

You can take out loans with a guarantor for many different purposes, almost anything in fact, including but not limited to the following:

  • Home Improvements
  • Wedding
  • Holiday
  • Debt Consolidation
  • Business Expansion
  • Car/Motorbike/Other Vehicle
  • Product Purchases like a a new iPhone
  • Medical Bill

Have a chat with us about why you are taking out your loan and we will let you know your options. Some lenders restrict certain loan purposes, such as specific business reasons, however we can let you know exactly what your options are before finalising your loan with the lenders.

What happens if I miss a payment on my loan?

If you miss a payment on your guarantor loan then your guarantor will be expected to step in and make the payment on your behalf. This is what makes the lenders so flexible, the guarantor acts as additional security.

If you have missed a payment, the lender will usually let the you know and give you time to pay, as opposed to going straight to the guarantor. If you realise you have missed a payment and haven’t heard anything from your lender, CALL THEM. If you can get in touch with them quickly and explain your situation you may be able to avoid them going to your guarantor at all.

Why do I need a guarantor?

If you have good credit, in all honesty you don’t need a guarantor. You only need a guarantor if you have been turned down in the past due to a poor (or lack of a) credit history. By using a guarantor to back up your application you gain access to loan amounts and loan rates that would be otherwise unobtainable. The guarantor acts as security. If for any reason you are unable to pay back your monthly repayment then the guarantor would be required to step in. This is why lenders are happy to be a lot more flexible when a guarantor is provided to support your application.

Can I pay off my loan early?

Yes, you can pay off your guarantor loan early. This type of loan is not front-loaded which means that your interest will be charged on a daily basis. As soon as you want to pay it off in full, you need to request a settlement figure and interest will be frozen (obviously if you do not settle the debt within a certain period of time, interest will still be charged).

Every lender is different with how they deal with settlements. Amigo Loans have no penalty, you just pay interest up to the day you pay off your loan. However other lenders such as UK Credit will charge you 2 months worth of interest from the day you request a settlement figure. Although even with this additional 2 months of interest you are still saving on interest in the long run by paying your loan with a guarantor off early.

If you need any additional information about paying off your loan early it is worth discussing this directly with the lender you are accepted by before finalising your loan.

Who can be a guarantor?

We are very flexible with who can be a guarantor. They:

  • Can be a homeowner, tenant, or living with friends/parents.
  • Can be friends, relatives or work colleagues.
  • Need to be between 21 and 75 years old.
  • Can have a good or fair credit history.

As long as they can afford repayments and fit the above criteria it’s as simple as that!

So who can be a guarantor? For many first time applicants, asking somebody to be a guarantor can be the most daunting element of applying for a guarantor loan. The guarantor acts as an additional level of security for the lender because if you can’t keep up with the repayments on your loan, the lender may well ask the guarantor to step in and pay on your behalf.

This means the guarantor needs to be very comfortable with you and the loan you are thinking of taking out. You should be prepared to have a very open and frank conversation with your prospective guarantor as they will probably want to make sure you can afford the repayments.

All of this means you should spend some time thinking about the right person you could approach to act as your guarantor.

Can my guarantor be a tenant?

In the early days of guarantor loans nearly all the lenders insisted the guarantor should be a homeowner. Nowadays, there are many lenders who will accept a guarantor who is a tenant (i.e. somebody who rents their home rather than owning it). Just to be clear – if the lender requires the guarantor to be a homeowner they do not have to own their home outright but can be paying a mortgage.

What about my guarantor’s credit history?

Your guarantor will need to have a fairly good credit file – whether they’re a homeowner or a tenant. Guarantors with a bad credit history will be unlikely to be accepted by the lenders.

Other Guarantor Criteria

Employed?

The guarantor doesn’t have to be employed but if they are not they will need to be able to demonstrate an income from another means – such as a pension, annuity, trust fund etc. This is because the lenders will need to be comfortable that the guarantor can make the loan repayments if, for whatever reason, you are unable to.

Spouse or Partner?

Initially lenders were reluctant to accept your spouse or partner as a guarantor, and some still are. Their reasoning was that if you were unable to make the repayments then your spouse or partner would be under pressure to cover your contribution to the household. Some lenders will now accept your partner/spouse as a guarantor but they may be asked to show that they could afford the household bills if something happened to your income – for example if you lost your job.

Age

Most lenders require your guarantor to be between 25 and 65 although there are some variations.

Relationship To You

Other than the requirements outlined above there are no real hard and fast requirements about the type of person you can ask to be your guarantor. The most common examples are;

  • Family – other than the spousal relationship (above) family members are perfectly acceptable including siblings, parents, cousins, aunts, uncles or even your own children!
  • Friends – one of the most common types of Guarantor. Our friends know us well and having the conversation with a friend can sometimes be easier than with somebody in your family
  • Colleague/Boss – one of the more surprising categories perhaps but popular nonetheless.
  • Member of your Community – such as your neighbour, minister etc.

As you can see the type of relationship with you isn’t of great importance to the lender but you will need to know them well enough to approach them regarding your finances.

Over the last few years the type of person who can be a guarantor has widened considerably. Nevertheless, as the above shows, the lenders do have some criteria about the type of person they’re looking for. If you have somebody in mind but are unsure whether they’ll be accepted, why not give us a call and talk to one of our loan experts. They’ll be able to discuss your individual circumstances with you before you approach the lender of your choice.

How much can I borrow with a guarantor loan?

How much you can borrow depends mainly on the residential status of you and your guarantor, along with the affordability of the repayment each month. Here is a simple table to see how different residential status’ can impact the borrowed amount.

Homeowner BorrowerTenant Borrower
Homeowner Guarantor£500 to £15,000£500 to £10,000
Tenant Guarantor£500 to £8,000£500 to £8,000

Other than residential status, the other thing that majorly effects how much you can borrow with guarantor loans is the affordability of the loan for both you and your guarantor. In order to understand this we need to look at the monthly repayments of the loan and compare it to your monthly income and expenditure.

Affordability

Let’s take an example of wanting to borrow £5,000 over 3 years, which based on our representative APR works out to a cost of £224.64 per month. Let’s say you earn £21,000 per year and take home £1,463.31 per month.

Monthly Income£1,463.31
Monthly Rent£600.00
Monthly Bills£200.00
Monthly Other Costs£450.00
Overall Disposable Income£213.31
Monthly Loan Cost£224.64
Disposable Income after Loan-£11.33

As you can see from the example above, this loan is not affordable, in fact it would put you in the red, which could very easily lead to immediate financial difficulty.

Making it affordable

Let’s see if we can make this loan a bit more affordable by borrowing a little less over a slightly longer period of time. Let’s go for £4,500 over 4 years, which again based on our representative APR, will work out to £172.93 per month.

Monthly Income£1,463.31
Monthly Rent£600.00
Monthly Bills£200.00
Monthly Other Costs£450.00
Overall Disposable Income£213.31
Monthly Loan Cost£172.93
Disposable Income after Loan£40.38

By reducing therepayment by around £50, the loan becomes a lot more affordable.

So now we have an affordable guarantor loan it is worth understanding how lenders differ in judging affordability. An interesting example is that one lender requires a disposable income after loan a of over £100. While this can be frustrating when it comes to getting your loan completed, we feel agree that this is a good way of budgeting for an emergency.

So through the combination of affordability and residency type you can work out how much you can borrow. If you would like to discuss this with us before making your application, you can give us a call on 01603 391104 during working hours and we will be happy to help.

How quickly can I get my money?

While we can often get you your loan very quickly (we have paid out a lot of loans in under an hour from initial application) it does depend somewhat on your personal circumstances and how quickly we can speak to you and your guarantor.

As well as the time it takes to get hold of the both of you we will also, in some cases, need supporting documents off the both of you. This can slow the application down if they are not easily to hand. Exactly what is needed is based off the level of automated checks that pass.

In a Rush?

To get your loan with a guarantor sorted as quickly as possible here is a brief checklist to consider:

  • Have your phone to hand or call us directly on 01603 391104 once you have completed your initial application;
  • Ask your guarantor when they will be free so we can call them at a suitable time, ideally straight away;
  • Have a recent bank statement or payslip to hand in case we need to see proof of your income;
  • Fish out your passport or driving licence in case we need proof of your idenfication;
  • Grab a recent utility bill such as a gas or electric bill if you are not on the electoral register as proof of address.

With the above in hand we should be able to sort out your guarantor loan quickly and efficiently. Although in general we would suggest setting your expectations for at least a 48 hours from application, to getting funds in your account. It should be noted the funds are paid into the guarantors bank account.

Learn more about supporting documentation for your guarantor loan.

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Opening Hours

Mon - Thurs: 9:00 to 19:30
Fri: 9:00 to 17:30
Sat: 9:00 to 12:00
Sun: Closed

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Phone Number

01603 391104

Please call us during our opening hours for the best service.

Address

Talk Loans
61 - 63 Riverside Road
Norwich
NR1 1SR

Email

contact@talkloans.co.uk

We aim to reply to all emails within 24 hours.

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Guarantor Loans 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).

Personal Loans Representative Example: Borrow £300 over 6 months. Monthly repayment of £92.43. Total repayable is £554.58. Interest payable is £254.58. Fixed APR of 883.6%. Interest rate of 169.7% per annum. Representative APR 883.6% (fixed).

Talk Loans is a Broker, not a Lender. To operate this service we receive commissions from the lender, broker or 3rd party we refer you to. To apply for a loan though our website you must be a UK resident.

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. Registered office address: 3 Cricket Close, Drayton, Norwich, Norfolk, NR8 6YA

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