Tenant Guarantor Loans

You can still get a guarantor loan even if your guarantor is a tenant, or a non-homeowner. Tenant guarantor loans can be slightly more expensive than homeowner guarantor loans, however they are still a great option when it comes to taking out a loan if you have a less than stellar credit history.

While most lenders will accept tenant guarantors nowadays there are still some that won’t, and by applying through Talk Loans we will help you filter out these lenders that could end up just wasting your time.

Remember that even with a tenant guarantor loan, your guarantor still must have a good credit history. If they have missed payments, defaults or CCJs they will still not be appropriate to act as a guarantor.

Want your tenant guarantor loan fast? Get in touch today. Start your application by using our simple loan calculator and making sure both you and your guarantor can afford the monthly repayments.

Start Your Guarantor Loan Enter your details below to get started.

Representative Example: Monthly repayment of £178.91.
Total repayment is £6440.76. 49.7% APR Representative (fixed).

49.7% APR Representative (fixed)

Buddy Loans Tenant Guarantor Loans

Buddy Loans will accept tenant guarantors and offer a competitive rate of 49.9%. Borrow from £1,000 to £7,500. As one of our top partners we see tenant guarantor loans being paid out with Buddy Loans on a daily basis.

Buddy Loans Tenant Guarantor Loans

Excellent Service

From initial call to passing me over to a suitable lender to payout all within 24 hours. Amazing service.

David

Guarantor Loan Customer

Great communication

I recommend Talk Loans. Always someone to talk to you the end of the phone and great communication.

Natasha

Guarantor Loan Customer

TrustPilot Rating
Talk Loans is rated 9.7 out of 10 by TrustPilot based on 70 unfiltered customer reviews.

Non Homeowner Guarantor Loans

If your guarantor is a non-homeowner we can still use them as a guarantor. The main differences between a tenant guarantor loan and a traditional homeowner guarantor loan is that the rates you pay may be slightly higher and you may only be able to borrow up to £8,000 instead of £15,000. In the past there was no such thing a tenant guarantor loans, as the lender always went under the assumption that if the guarantor is a homeowner they are less likely to default on the repayments if the worse was to happen.

In 2013 UK Credit were the first to launch a product where you could use tenant guarantor. The tenant guarantor loans product was different to the traditional homeowner guarantor. The interest rate charged, largest loan you could borrow and the level of supporting documentation was different. Roll on to 2015 and multiple lenders offer tenant guarantor products. Sometimes the offering is the same regardless of the guarantor’s residency.

Guarantor Loans With A Tenant Guarantor

With the current state of housing in the UK, homeownership is at a particularly low level compared to previous generations. This makes rarer to have friends or family members that own a property and is one of the main reasons using a tenant guarantor has increased in popularity over the last 5 years. As long as you and your guarantor can afford the repayments and the guarantor has a good credit history then there should not be a problem getting your loan finalised.

Guarantor lenders are generally stricter on credit scores when it comes to non-homeowner guarantors. So for example where a lender may be happy with a homeowner guarantor with a couple of missed payments within the last 2 years, a tenant guarantor would be expected to have a much cleaner credit history, with no missed payments at all. Please note this is just an example and there is no reason to think a tenant guarantor loan is out of rech if you guarantor has missed a couple of payments. Although we would strongly suggest they do’t have any recent defaults or missed payments on credit.

If you would like to learn more about exactly what type of tenants we can accept as guarantors you should speak to one of our loan experts today on 01603 391104. Or if you are ready apply today at the top of the page for your tenant guarantor loan.

Tenant Guarantor Loans
Non-Homeowner Guarantor Loans
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Fri: 9:00 to 17:30
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Phone Number

01603 391104

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Talk Loans
61 - 63 Riverside Road
Norwich
NR1 1SR

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We aim to reply to all emails within 24 hours.

WARNING: LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. FOR HELP GO TO MONEYADVICESERVICE.ORG.UK

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%.

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%.

Talk Loans is a Broker, not a Lender. To operate this service we receive commissions from the lender we refer you to.

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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