Guarantor loans for bad credit borrowers

Bad credit guarantor loans

Bad credit guarantor loans

Guarantor loans were specially designed with the low credit score applicant in mind. They allow those who have had credit difficulties in the past to get a loan today with the help of a guarantor. Although guarantor loans are a bit more difficult to arrange in the fact that you have to find a suitable guarantor who is suitable and more importantly willling act as a guarantor for you. We tend to find that parents (mum and dad) are the most popular type of guarantor to have.

Previously those with a blemished credit record had to approach loan sharks and unregulated door step lenders when they needed money as there was little other options.

They are now a wide range of lenders and companies offering these types of loans and in recent years they have become a very popular “bad credit” loan alternative.

These types of loan are and were very expensive, however since the introduction of the guarantor loan you can get a loan for a reasonable 43% APR and get the opportunity to build your credit in the process. To find out more please contact us or speak with a member of the team.

Tenant Guarantor Loans

Guarantor-My-Loan

We now have access to a couple more guarantor lenders who are willing to offer loans for people with tenant guarantors. These are guarantors who dont own their own home and rent the current home they live in. Guarantor Loans are available from £1000 – £4000 from 43.8% APR over 1 – 3 years repayment.

The conditions are that your guarantor must have a clean and good credit rating, be in full time employed, be over the age of 23 and have no defaults, CCJ’s on their credit profile. If you are unsure of your credit rating or credit score then we recommend you take advantage of the free trial at Credit Expert: https://www.creditexpert.co.uk/

They must also be able to show proof of earnings and have their salary and income verified by their employer. Self employed tenants will also be considered if they can prove 3 years of income via company accounts or verified bank statements. If you have a guarantor ready and waiting then please contact us or speak with your loan underwriter to get your loan application underway.

Guarantor loans for those with a low credit score

We are personal loan brokers who specialise in finding the best and cheapest guarantor loans for our customers from our exclusive panel of lenders and loan providers.

We have been brokering guarantor and personal loans for almost 8 years and have throusands of happy customers throughout the UK.

What type of loans do we organise?

  • Guarantor loans (most popular)
  • Payday loans
  • Short term loans
  • Cash loans – £50 – £500
  • Secured loans
  • Personal loans for bad or low credit score

How does it work?

Our broker process is very simple and easy. Our aim is to do all the hard work in finding and comparing the range of guarantor loans on offer and then we ensure your loan application goes through quickly and without any issues. We dont charge you a fee for this service and we make a commission from the lender who issues your loan. If you need loan you can call us free on 0800 454 8792 or email us on loans@moneytavern.com to make an application with a loan advisor.

Why use a guarantor loan broker?

Our service is free and it will cost you no extra to arrange your guarantor loan or any type of loan you need via us. We search and compare the loans market place to display and show you the best and cheapest loans that meet your needs and requirements.
Who can I use to be my guarantor?

If you do wish to opt for a guarantor loan then you will need to find a suitable guarantor as part of your loan application requirements. They can be a homeowner or a tenant and each lender will have different requirements. Below is a brief guide:

  • Can own their own home or be a tenant
  • Over the age of 21
  • Max age of 75
  • Meet the minimum income requirements
  • Have a good credit history or good credit score

This FAQ page from one of our guarantor lenders shows a typical guarantor requirement:
http://www.firstchoicefinance.co.uk/Index.asp?T=Lenders%20Criteria%20For%20Guarantor%20Loans