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Guarantor loans are an alternative form of borrowing for those who may not be able to get another form of credit.
What is a guarantor loan?
A guarantor loan is a type of unsecured loan, which means that none of your own assets are used as security against the loan. However in order to protect the lender from any missed payments then the loan is backed by a third party who guarantees to repay the loan, if you are unable to do so.
Guarantor loans are suitable for borrowers with a poor credit score, or have a history of bad credit. By taking out a guarantor loan, and making sure that all the payments are made on time, could help to rebuild your credit score as you are demonstrating to the lender that you are a responsible borrower.
We've teamed up with Lovemoney.com to compare a wide range of loans: whether it is to finance a new car, for a holiday or to complete a home improvement project. We understand that choosing from a wide range of low-rate loans from various companies can quickly become overwhelming, but using their comparison table means you can find the loan to suit your lifestyle with ease, speed and confidence.