Guarantor loans: a detailed comparison

Guarantor loans: a detailed comparison
February 18, 2017 Ben Leonard

At Cash Lady, we want to help you understand all aspects of financial lending, not just cash loans. So we’re back with another part in our series on guarantor loans. This time we are providing a guarantor loans comparison, to help you get a good deal.

Guarantor loans comparison

When it comes to looking for a guarantor loan, it can be hard to know where to start. But fear not, we’re on hand to help you compare guarantor loans, to find out what the best deal for you is.

Bamboo

Loan AmountRepresentative APRLoan Term
£1000 – £8,00049.7%1 year – 5 years

 

Southampton-based financial lenders Bamboo are a guarantor loans company that pride themselves in their approach to lending. They are an ethical, professional and transparent lender, but also relatively new to the marketplace. Bamboo is also a direct lender, meaning that there are no other financial middlemen to go through, making the process a lot simpler.

Bamboo also offers unsecured loans, which do not require an additional person to co-sign the loan. However, this only allows you to borrow £5,000 max, although the APR is a lot lower too. As there is less security for this loan, you are unlikely to be accepted if you have poor credit, and applications will be judged on the customer’s income and credit history.

Buddy Loans

Loan AmountRepresentative APRLoan Term
£1000 – £7,50049.9%1 year – 5 years

 

Buddy Loans are one of the biggest loan companies in the guarantor loans market. They have a very strong profile and pride themselves on their friendly customer service. They accept both homeowner and tenant guarantors.

Amigo

Loan AmountRepresentative APRLoan Term
£500 – £7,50049.9%1 year – 5 years

 

Amigo is the largest guarantor lender in the UK. Based out of Bournemouth, this company has helped thousands of people get on their way to a better financial future. They were founded in 2005 and since then they’ve helped over 160,000 people with guarantor loans. Amigo accepts people with bad credit and even take customers if they’ve had a CCJ.

TFS Loans

Loan AmountRepresentative APRLoan Term
£1000 – £15,00048.9%2 year – 7 years

 

TFS Loans have a sterling reputation, being well known for their transparency, as well as being a personable and responsible lender. Based out of Essex, they are one of the leading financial lenders in the UK. TFS Loans are a direct lender, so there will be no middlemen to deal with and no additional charges to worry about.

TFS Loans are well known for their excellent customer service, and their dedicated support team is on-hand 24/7 to help you, should you need it. As a responsible lender, TFS Loans will also never try to upsell a loan to you. Even if you can afford to borrow more, they won’t push you into that decision and will only encourage you to borrow what you really need.  

TrustTwo

Loan AmountRepresentative APRLoan Term
£1000 – £8,00049.7%1 year – 5 years

 

TrustTwo is among the more popular guarantor lenders in the UK. They accept both homeowner and tenant guarantors. Their name is based on the idea of two people coming together, with trust, to get a loan. TrustTwo requires that any guarantor that co-signs for a loan is aged 25 or older, as a reflection of trust on the part of the lender.

UK Credit

Loan AmountRepresentative APRLoan Term
£1000 – £10,00037.9%1 year – 5 years

 

A well-known and well-established lender, UK Credit have been operating for years in the financial lending space. They offer a real commitment to responsible lending and are one of the few lenders that is willing to give guarantor loans to tenants. Most other guarantor loan providers will only accept customers that are homeowners, as they know that these customers are more likely to fully repay any loan that is taken out.

1Plus1

Loan AmountRepresentative APRLoan Term
£500 – £5,00045.4%1 year – 5 years

 

After launching in 2003, 1Plus1 quickly became a dominant name in the guarantor loans market. Their name comes from the fact that you will need a guarantor, or a plus 1, for your loan. 1Plus1 pride themselves on making the loan application process as easy as possible. They also have excellent customer service.

George Banco

Loan AmountRepresentative APRLoan Term
£500 – £7,50049.7%1 year – 5 years

 

Based in Somerset, George Banco offer guarantor loans across the UK. They’re a direct lender, which means you don’t have to worry about surprise charges or difficult middlemen to deal with.

SUCO

Loan AmountRepresentative APRLoan Term
£1000 – £15,00039.9%4 year – 5 years

 

SUCO are a financial lending company based in Essex. They offer guarantor loans, but over slightly longer terms than most other lenders. The minimum that you can take a SUCO guarantor loan out for is four years, whereas most other lenders offer the option of just one year.  

Guarantor My Loan

Loan AmountRepresentative APRLoan Term
£1000 – £10,00029%1 year – 5 years

 

Guarantor My Loan is a lending company that is based out of Norwich. Like normal guarantor loans companies, they require a guarantor to co-sign for the loan during the application process. However, what separates Guarantor My Loan from other loan companies is that they offer cash back on any loans that are paid early.

Guarantor My Loan customers receive an entire month’s repayment into their bank account as a ‘thank you’ for successfully repaying the entire loan. Often, this can be quite a substantial amount of money – around a hundred pounds. They’re also willing to approve those who have poor credit, or even a CCJ, which other lenders do not.

Final thoughts

Don’t see a particular lender in our guarantor loans comparison list? Let us know below, or drop us a line on Facebook or Twitter. If you need finance to help you out in a bad situation and you have poor credit, why not consider an online loan from Cash Lady?

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