Need a guarantor loan?. If you are looking for a loan, complete your details below for a personalised guarantor loan quote. We can help if you have bad credit or are self employed
A guarantor loan is an unsecured loan that requires a guarantor to co-sign the credit agreement. The guarantor agrees to repay the loan if the borrower does not make the required loan repayments.
A Guarantor Loan can help someone borrow money that they would not be able to do without a guarantor, or at a lower interest rate than they would be able to get if they applied on their own.
The guarantor is usually either a family member or friend who has a better credit history than the person taking out the loan. This makes the loan less of a risk for the lender. The guarantor will be someone who regularly pays their bills on time, has a regular income and can afford to make the loan repayments if the borrower cannot.
Please bear in mind that if you do not make your loan repayments, your guarantor will have to make them, so it's important that you make your payments on time.
Guarantor loans are suitable for people who have a bad credit history, such as defaults or a CCJ, or for someone who has not yet been able to build up a credit history, for example, a young person who is looking for their first loan. You may have already applied for a loan or credit card but you were turned down.
Once you have your guarantor loan and you are making regular repayments, this can help you build up your credit history or start to repair your credit score.
It doesn’t matter if you have a bad credit record or are self employed, as long as you have a guarantor who trusts you to make the repayments, but is able to them if you do not.
The only type of loan available for people who want a guarantor loan is a personal loan, also known as an unsecured loan. This is a loan in which there is a set number of regular payments. The maximum amount you can borrow is normally £7,500 over a maximum term of 5 years.
To find out how much a guarantor loan will cost you, please complete the loan application form
The loan broker will contact you to discuss the loan and let you know the monthly payments
Please make sure a guarantor loan is right for you before taking it out and that the guarantor is happy to make payments if you are unable to. You should always think very carefully before committing to any form of credit or borrowing money.
If you're trying to manage existing debt or in financial difficulty, consider what your options are before you borrow. For further help on managing your money visit the Money Advice Service.
Our fast, secure application gives you access to multiple lenders, finding you the cheapest loan based on your personal circumstances*.For short term loans, payday loans, guarantor loans, car loans, unsecured homeowner loans
This is the bottom line. As a company, we only get paid if we successfully get your loan paid out. We will endeavour to find the most suitable loan or plan for your individual circumstances. We will do everything we can to get your loan paid out as quickly as possible.
If you are looking for a new loan to replace other forms of credit, such as credit cards, Hire Purchase or other loans, you are advised that the duration of the new loan will be longer or the total amount payable will be higher than your existing arrangements
We offer loans throughout the UK
Copyright © 2018. 1st Loan is a trading style of Joel Malach. We are authorised and regulated by the Financial Conduct Authority. Firm registration number 720851. Data Protection Licence Number: Z8904952. Registered Office: Warwick House, Lowes Road, Manchester. BL9 6PJ1st Loan may receive a fee/commission for either referral or completion of your loan application.
1st Loan is a responsible broker, and as such, would not be able to help if you are looking for us to pay out a loan to someone who is unemployed or receiving benefits as a primary income, who is in financial difficulties or cannot afford to make full loan repayments.
Please see our Responsible Lending Code of Practice for further information or for contact details of organisations who can help people in financial difficulties
Please read our Treating Customers Fairly Policy which shows our commitment to treating our clients fairly and meeting their expectations of high quality service.
Representative example: Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495). This would result in an overall cost of 9.1% APRC. Minimum Term 12 months. Maximum Term 300 months. Maximum APR charged 49.9%.
Rates from 5.7% to 278%. Representative 51.1% APR. Representative example: £2,000 borrowed for 24 months. Total amount repayable is £6,512.44 in 24 monthly instalments of £271.36. Interest charged is £4,512.44, interest rate 112.8% (variable)Short Term Loans
Rates from 278% to 1576%. Representative 305.9% APR. Representative example: £400 borrowed for 90 days. Total amount repayable is £561.92 in 3 monthly instalments of £187.31. Interest charged is £161.92, interest rate 161.9% (variable)
This page provides information and advice on Guarantor Loans