Warning: Late repayment of payday loans can cause you serious money problems. For help, go to moneyhelper.org.uk

Rates from 12.9% APR to 1721% APR. The minimum Loan Term is 3 months. The maximum Loan Term is 36 months. 

Representative Example: £1,000 borrowed for 18 months. Repayment of 17 Months at £87.22 and final repayment of £87.70 The total amount repayable is £1570.44. Interest amounts to £570.44, an annual interest rate of 59.97% Representative APR: 79.5% (variable)

Please note: We are a broker, not a lender, and do not make credit decisions.

Subject to application being approved by the lender. Not all lenders are able to provide up to £5000

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Best Guarantor Loans UK

Here at 1st Class Loans, we can help find you a guarantor loan. These guarantor loans start from £100 up to £5,000.

We specialise in payday loans, however, a few lenders on the panel are guarantor loans direct lenders. We don’t have any control over which lender you get matched with, this is all down to your credit score.

How our system works:

  1. Apply online at 1st Class Loans quick application form page.
  2. We send your application into our pingtree
  3. Pingtree technology will match you with a lender.
  4. If successful you will be redirected to the lender’s website to complete your application.
  5. No fees – our services is 100%

FAQs On Guarantor Loans UK

Here are some FAQs regarding the best guarantor loans UK

What are Guarantor Loans?

Instant Guarantor loans are either short term loans or personal loans usually below £10,000 taken over a period of 6 – 24 months depending on the lender. The only difference between guarantor loan and a personal loan is that with a guarantor, they will make the payments for you if you can’t afford the repayments.

There are positives and negatives to guarantor loans.

The positives are that they help people with bad credit get loans at a better rate due to there being two names on the application form. So it shares the risk for lenders!

The negatives are if you are unable to make the repayments, you are asking a friend, partner or family member to pay it for you. Which can lead to all sorts of arguments.

How do guarantor loans work?

As described above, it is getting someone else to make the repayments if you can’t. The person you choose for your guarantor will take over the financial agreement.

Example: If ‘personal A’ takes a £10,000 with ‘person B’ as guarantor. If person A stops making the repayments, person B will have to take over the financial agreement and pay it for him.

What happens if the guarantor doesn’t make the repayment?

In most cases, they will end up with a CCJ and ruin their credit score.

Who Can be a guarantor?

Anyone over the age of 18 and lives in the UK with a UK bank account. Also, in most cases, the guarantor has a better credit score than the person applying.

Does an Instant guarantor loan require a credit score check?

Yes, most loan applications these days are carried out with a soft search. This won’t affect your credit score by applying.

Which website are the best guarantor loans direct lenders?

  1. 1st Class Loans – well we would say ourselves, wouldn’t we? However, we work with a few guarantor loan direct lenders so this does increase your chances of being successful when applying for a high acceptance guarantor loans.
  2. Amigo Loans – Amigo is probably the biggest guarantor loan direct lender due to all their TV and radio adverts.
  3. Buddy loans – Buddy loans sit in 1st place in Google for the search term ‘guarantor loans direct lender’ so they will be receiving a lot of instant guarantor loan applications.
  4. Barclays guarantor loans – Barclays bank obviously needs no introduction. Huge UK bank who also offer loans with guarantors.

Guarantor loans for bad credit

These loans have been designed for people with bad credit. Having someone help you make the repayments make you less risky to the lenders, which means they can give you a lower ARP rate.

For customers looking for loans for bad credit no guarantor please click the link

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Warning: Late repayment of payday loans can cause you serious money problems. For help, go to moneyhelper.org.uk.