Need a guarantor loan?. If you are looking for a loan, complete your details below for a personalised guarantor loan quote. We can help if you have bad credit or are self employed
A guarantor loan is an unsecured loan that requires a guarantor to co-sign the credit agreement. The guarantor agrees to repay the loan if the borrower does not make the required loan repayments.
A Guarantor Loan can help someone borrow money that they would not be able to do without a guarantor, or at a lower interest rate than they would be able to get if they applied on their own.
The guarantor is usually either a family member or friend who has a better credit history than the person taking out the loan. This makes the loan less of a risk for the lender. The guarantor will be someone who regularly pays their bills on time, has a regular income and can afford to make the loan repayments if the borrower cannot.
Please bear in mind that if you do not make your loan repayments, your guarantor will have to make them, so it's important that you make your payments on time.
Guarantor loans are suitable for people who have a bad credit history, such as defaults or a CCJ, or for someone who has not yet been able to build up a credit history, for example, a young person who is looking for their first loan. You may have already applied for a loan or credit card but you were turned down.
Once you have your guarantor loan and you are making regular repayments, this can help you build up your credit history or start to repair your credit score.
It doesn’t matter if you have a bad credit record or are self employed, as long as you have a guarantor who trusts you to make the repayments, but is able to them if you do not.
The only type of loan available for people who want a guarantor loan is a personal loan, also known as an unsecured loan. This is a loan in which there is a set number of regular payments. The maximum amount you can borrow is normally £12,500 over a maximum term of 5 years.
To find out how much a guarantor loan will cost you, please click here
The loan broker will contact you to discuss the loan and let you know the monthly payments
Please make sure a guarantor loan is right for you before taking it out and that the guarantor is happy to make payments if you are unable to. You should always think very carefully before committing to any form of credit or borrowing money.
If you're trying to manage existing debt or in financial difficulty, consider what your options are before you borrow. For further help on managing your money visit the Money Advice Service.
Our fast, secure application forwards your enquiry to a broker who has access multiple lenders. They aim to find you the cheapest loan based on your personal circumstances.
This is the bottom line. As a company, we only get paid if your loan is paid out. The broker will endeavour to find the most suitable loan or plan for your individual circumstances. The broker will do everything they can to get your loan paid out as quickly as possible.
If you are looking for a new loan to replace other forms of credit, such as credit cards, Hire Purchase or other loans, you are advised that the duration of the new loan will be longer or the total amount payable will be higher than your existing arrangements
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1st Loan is a responsible broker, and as such, would not be able to help if you are looking for us to pay out a loan to someone who is unemployed or receiving benefits as a primary income, who is in financial difficulties or cannot afford to make full loan repayments.
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1st Loan is not a lender and does not make credit decisions. 1st Loan introduce loan enquiries to a broker (TdotUK Limited) that matches customer applications with lenders in their network based on the information provided, in exchange for a commission paid by the lender for advertising services provided. There is no guarantee that you will be accepted by a lender or that you will be offered terms suitable for your financial needs. Not all lenders will be able to provide amounts up to £5000. The time required to process and transfer the loan varies by the lender. This website does not directly endorse any particular product or service. Any information on this site should serve as opinion only. As a condition of extending credit, some lenders you may be matched with may run a credit check from a credit reference agency. Late or missed payments may be subject to increased fees and/or interest rates.
This page provides information and advice on Guarantor Loans