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
How it works
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)
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
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.
GREAT CUSTOMER SERVICE
We will talk to you in person and see how we can help – even if you’ve got CCJs or a poor credit record.
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.