Guaranteed Loans for Bad Credit

Get loan quotes in 2-minutes, zero fees, credit score impact, or obligation 👍


Representative 49.9% APR

Borrow £3,250 over 36 months at a Representative Rate of 49.9% APR at an annual interest rate of 41.16% (fixed), you pay 36 instalments of £158.57. Total charge of credit is £2,464.57, total amount payable £5,714.67.


Are there guaranteed loans?

👍 Yes – there are bad credit loans with less stringent acceptance criteria.

👎 No – there are no guaranteed acceptance loans.

👍 Yes – there are bad credit loans called guarantor loans, where someone can guarantee your loan.

👎 No – even with a guarantor loan, you are not guaranteed to get acepted.



lock

Safe & secure

fca Authorised
ico Registered
gdpr Compliant

Frequently Asked Questions

  • A friend or family member (typically) becomes a guarantor – to guarantee the borrower’s repayment of the loan.
  • More affordable (typically) – type of poor credit loan (around 49.9% APR).
  • Less expensive (typically) – than other bad credit loans such as payday, instalment, or doorstep (up to 1,575% APR).
  • A good credit rating and regular income – will be needed by your guarantor.

For the loan types, we list typical acceptance rates


LOWER ACCEPTANCE > MORE AFFORDABLE


AVERAGE ACCEPTANCE > AVERAGE COST


HIGH ACCEPTANCE > MOST EXPENSIVE

  • Payday, Instalment & Doorsteptypically 135% – 1,575% APR

We’d suggest trying guarantor first to keep your loan costs to a minimum.

No impact on your credit score, no fees, no obligation

NO 👎

All loan approvals in the UK must be based on the status of the applicant (and if applicable, their guarantor).

  • The FCA who regulates the UK finance industry prohibits companies from offering credit where it’s suggested that applications are in any way guaranteed.
  • You cannot get a guaranteed approval loan.
  • Beware any lender who says that they guarantee a successful application.

When you guarantee a loan, you agree to make the repayments if the borrower defaults.

As a ‘loan guarantor’ you:

  • Are legally liable for someone else’s loan.
  • Need a good credit rating.
  • Should be willing to support the loan application and take on the potential liability.
  • Are typically a family member, or friend of the borrower.

When guaranteeing a loan, you can become fully liable for the debt (and get a damaged credit file if there are defaults); you should therefore make yourself fully aware of the implications.

See our Being a Loan Guarantor page.

Guarantor required – you need someone with a clean credit history to guarantee the loan application 🧑‍🤝‍🧑

Compared to other poor credit loans, typically:

  • Better rates – they typically have better rates than other loans because the lender has the security of the guarantor.
  • More affordable – often better rates than other loans with Representative APRs of 39.9% – 54.9% compared to 135% – 1,575%.
  • Larger loan amounts – from £500 – £15,000 loans, many other loans often up to £2,000.
  • Longer repayment periods – ranging from 6 – 60 months compared to up to 12 months for others (this helps to lower monthly repayments making them more affordable).

More affordable credit available to those with a poor credit history 👍

NO 👎

Lenders, unfortunately, do not consider

BORROWERS

  • Under 18 or over 75
  • Zero income
  • Non-UK resident
  • No bank account or debit card
  • Insolvent (undischarged bankrupt, IVA, trust deed)
  • Where the loan is not affordable

GUARANTORS

  • Poor credit history
  • Who do not meet the other criteria listed above

For more information see page What’s the guarantor loan criteria?

More FAQs

Typically, these will be family members, friends or colleagues, someone close to the borrower 👪

  • A suitable person will have a clean credit history, be a United Kingdom citizen, and be employed.
  • The best way to find someone is to ask them.

For information see our guide on How to find a guarantor for a loan?

Guarantor loans are a great option

  • They make affordable loans more available to those with poor credit scores.
  • But have lower acceptance rates because not everyone can find someone to guarantee their loan.

Increase your chance of getting accepted

  1. How to find a guarantor for a loan?
  2. Being a Loan Guarantor Guide
  3. What’s the guarantor loan criteria?

We summarise three alternative options below 👇


Payday

  • A high-cost short-term small loan for a few weeks only, up to your next payday.
  • Rates are typically very high up to about 1,500%, and because of this, they are relatively easy to get and have the most relaxed acceptance criteria.
  • Amounts are typically below £1,000.
  • See Are guarantor loans a payday loan alternative?

Instalment

  • High-cost short term unsecured personal loan.
  • Rather than only being for a few weeks, there is a repayment plan (typically 2 to 12-months).
  • Loans are typically up to £2,000.
  • Acceptance criteria can be more relaxed, this is reflected in their cost, with rates with some lenders up to about 1,500% APR.
  • There are better value instalment loans coming on the market all the time, but they are still a high-cost option.

Doorstep

  • At 535% to 716% APR, doorstep loans are more affordable than the previous types.
  • You will need to make weekly payments to an agent that visits your house, which some people do not like.

NO 👎

All lenders undertake some form of credit check, to verify

  • Your ID
  • That you’re not insolvent (bankrupt or in an IVA)

A guarantor loan has a limited number of credit checks on the borrower, and our lenders accept people with loan defaults and CCJs (subject to affordability).

Before looking for a loan it’s always worth getting a copy of your latest credit file 📋

CHECK MY FILE

A good company to use as their credit report pulls in information from all the three major credit reference agencies – Experian, Equifax, and Call Credit

CREDIBBLE

Shows you your credit file and what you may need to do to fix it!


Why use this website?

We love guarantor loans and have been helping people get easy access to the very best deals since 2015.

We even do no guarntor loans!

Fast

Easy access to all the best deals. One simple form to over 35 lenders.

(zero impact on your credit file)

Free

This site is free for you to use – all loans cost the same as if you went to the lender directly.

(we’re paid by the lenders)

Safe

We are fully FCA regulated and Information Commission Office registered

(we’re a Surrey-based firm)

Get Accepted for a Loan

union lock

Safe & secure UK website established in 2015

fca Authorised
ico Registered
fca Compliant