Guarantor Loans
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Compare multiple guarantor loan providers in one easy search with MoneyRaters. We provide more than just the loan amount – you can see the interest rates, repayment terms and other important details to help you make an informed decision.
Our Top Guarantor Loans Providers
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If you’re looking for a guarantor loan, MoneyRaters.com can help. We compare a range of providers to find you the best deal, and you can look out for our price cut banner to see which of our lenders could offer you a discount. Our service is fast and easy to use, and you can get a decision in minutes. Plus, you can rest assured that all of our lenders are FCA authorised and regulated, so you can trust that you’re getting a fair deal.
The maximum loan amount available for Guarantor Loans can vary depending on the lender, but typically it can range from £1,000 to £15,000.
Guarantor loans are a type of loan that requires a guarantor to co-sign the loan agreement. The guarantor must be a UK resident aged 18 or over, with a good credit history and a regular income. The guarantor must also be willing to take on the responsibility of repaying the loan if the borrower is unable to do so.
The typical interest rate for Guarantor Loans is typically between 39.9% and 49.9%. The exact rate will depend on the lender and the borrower’s credit score.
How Can We Help You With Guarantor Loans Today?
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Our Guarantor Loans service makes it easy to find the right loan for you, whether you’re looking for a loan to cover a one-off purchase or to help you manage your finances. We can help you find a loan with a guarantor, which means that someone else agrees to pay back the loan if you can’t. This can help you get a loan even if you have a poor credit history.
Our guides provide more information on guarantor loans, including how to choose the right loan, the benefits of having a guarantor, the risks involved, and how to find the best deal. We also have advice on how to manage your loan, including budgeting tips, how to make sure you can afford the repayments, and how to avoid getting into debt.
We can also help you find out more about the different types of guarantor loans available, such as secured and unsecured loans, and how to compare different lenders. With our service, you can be sure that you’re getting the best deal for your circumstances.
Guarantor Loans FAQs
Frequently Asked Questions - Guarantor Loans
What is a Guarantor Loan?
A Guarantor Loan is a type of loan that requires a third party to guarantee the repayment of the loan. The guarantor is usually a family member or close friend of the borrower and is responsible for making the loan payments if the borrower is unable to do so. The guarantor must have a good credit history and be able to demonstrate that they can afford to make the loan payments.
What are the benefits of a Guarantor Loan?
The main benefit of a Guarantor Loan is that it can provide access to credit for those who may not be able to get a loan from a traditional lender. With a Guarantor Loan, a third party (the guarantor) agrees to cover the loan payments if the borrower is unable to make them. This means that the lender is more likely to approve the loan, even if the borrower has a poor credit history. This can be a great way for those with bad credit to access the funds they need.
What are the requirements for a Guarantor Loan?
The requirements for a Guarantor Loan vary depending on the lender, but generally the guarantor must be a UK resident aged 18 or over, have a good credit history, and be able to afford the loan repayments if the borrower defaults.
What are the risks of a Guarantor Loan?
The main risk of a Guarantor Loan is that if the borrower fails to make their repayments, the guarantor is responsible for repaying the loan. This means that the guarantor is liable for the debt and could have their credit score affected if the loan is not repaid.
What is the difference between a Guarantor Loan and a Secured Loan?
The main difference between a Guarantor Loan and a Secured Loan is that a Guarantor Loan requires a third party to guarantee the loan, while a Secured Loan requires the borrower to provide some form of collateral, such as a car or house, to secure the loan. A Guarantor Loan is typically more expensive than a Secured Loan, as the lender is taking on more risk.
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