A guarantor loan allows someone to borrow money with the support of a trusted friend or family member who agrees to guarantee the repayments if the borrower cannot pay. This structure can make borrowing possible for people who may struggle to obtain credit through traditional lenders.

Guarantor loans and personal loans are two common ways to borrow money in the UK, but they work in different ways and are designed for different types of borrowers.

Guarantor loans can often be approved relatively quickly compared with some traditional forms of borrowing. In many cases, once the application and required checks are completed, approval may be possible within the same day or within a few working days depending on the lender.

Yes, it is often possible to get a guarantor loan with bad credit in the UK. Guarantor loans are designed to help people who may struggle to access traditional credit, including borrowers with a poor or limited credit history.

Yes, self-employed people can often get a guarantor loan in the UK. Many lenders consider applications from borrowers who run their own business, provided they can demonstrate stable income and have a suitable guarantor who is willing to support the loan.