Guarantor Loans Online

New guarantor lenders are popping up regularly now that this loan type has become more popular. Since the recession in 2008, guarantor lenders have risen in popularity. This is because the banks have become wary about lending money, especially to those who have a less-than-perfect credit history. Guarantor lenders fill the gap between the low-rate bank loans and the very high rate short term (or payday) loans. They offer usually between £1,000 and £10,000 payable over 1 to 5 years.

The reason why there are new guarantor lenders coming into the market all the time is because they’re becoming more popular. Guarantor lenders offer a new form of borrowing in an old style. They have taken the traditional guarantor aspect (where a friend or family member vouches for your ability to pay the loan instalments) and teamed it with modern lending practices so that you’re able to apply online and have the money in your account on the same day that your application is approved.

Finding the Right New Guarantor Lender

As there are more and more new lenders opening for business every year, it’s important that you do some research in order to find the right guarantor lender for you. The way they lend will be much the same, but the interest rates will differ depending on the lender. The cheapest guarantor lender may or may not be the best one for you. Try looking at some independent reviews of the company you’re interested in dealing with online. Other’s experiences will give you a better feeling for the company and help you to pick the best match for your needs. The most important thing to check, however, is that the guarantor lender you’re looking at is registered in the UK, is authorised and regulated by the Financial Conduct Authority. This means that they are a fully registered and legal credit company. You can usually find this information at the bottom of any guarantor lender’s website.

What You’ll Need

When you find the right new guarantor lender for you, you’ll need to do a little preparation before you apply. In order to be approved for a guarantor loan you’ll need a guarantor, which is someone who will back up your loan application. They agree to pay any loan installments which are not paid by you. While the instances of this are rare, it’s important for the applicant and the guarantor to trust each other. A good guarantor lender will ensure that the loan is affordable through fair lending rules.

It’s also likely that you and your guarantor will need some form of ID to hand, as you may be asked to scan a copy or send a picture of it to the lender. This helps them to verify who you both are and protect the lender and their customers against fraud. Your ID can be further verified (and you’re more likely to be approved for a loan) if you are registered on the electoral roll for your address.

What are guarantor loans?

Borrow up to £10,000 with the support of a guarantor
Friendly customer service & easy to manage fixed repayments.

What is a guarantor?

A guarantor supports your application for our loans – simply. Usually a close friend or relative, with a better credit history than you, and should also be a homeowner. When you apply for a personal loan with Guarantor My Loan both your credit history and that of your guarantor is considered – their credit history will ‘boost’ yours up to support your application.

How do guarantor loans work?

Guarantor Loans work just like any other loan, except when you apply you will need to provide details of your guarantor.

Apply online with us and you can borrow from £1,000 to £10,000 over 1-5 years, repayable in fixed installments. You should ensure you can afford your payments, so that your guarantor doesn’t need to step in.

Who are guarantor loans best for?

– Those who have not borrowed before
– Those with a poor credit history or CCJs
– Those who’ve only lived in the UK for a short time
– Have been turned down for credit

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How it works

  • Apply online

    Borrow from £1,000 to £10,000 over a period of 1-5 years

  • Find a guarantor

    We call you and your guarantor to ensure that you can both afford the repayments

  • Once your loan is approved

    Your money is transferred into your guarantor’s bank (in some cases on the same day)

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Who can guarantor my loans?

All you need is a friend or family member to agree to act as your guarantor

The guarantor must:

  • Have a good credit record
  • Be aged 21-75
  • Be able to take over your repayments
  • Be a homeowner

They will need to trust you to keep up your repayments and must have a good financial record themselves. They also may need to be a homeowner but your loan is NOT secured against their home.

  • Pay a clear & transparent rate for your loan
  • Easy to apply
  • Simple, manageable repayments
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Why choose guarantor my loan?

  • NO Unexpected Fees

    Your rate is clear and simple, we do not hide any charges or broker’s fees to pay.

  • Simple to apply

    When you apply for your loan it is a simple process and the money can be with you on the same day, depending on your circumstances.


    We will talk to you in person and see how we can help – even if you’ve got CCJs or a poor credit record.

  • Earn Cashback

    Exclusive! We will give your guarantor the equivalent of a month’s payment back as a thank you for repaying your first 12 months on time and in full. Click here for details.

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Who is Guarantor My Loan?

Guarantor My Loan is a Peer to Peer lending platform that matches those wanting to lend with those wanting to borrow.
We specialise in arranging Guarantor Loans for customers and have been lending since August 2014.

How do I Lend?

You can visit our Lender FAQs to find out more about lending on our platform and how to become a lender. If you have any further questions please call us 01603 391013.

How do I Borrow?

You can visit our Borrower FAQs to find out more about borrowing on our platform and to start the application process visit our apply page. If you have any further questions please call us 01603 391013.