How Guarator Loans work
Traditional unsecured loans or personal loans are provided on terms that depend on the applicant's personal financial circumstances. Lenders will base their decision to lend upon the applicant's credit history and/or will use computerised credit scoring techniques to make their decision.
Guarator Loans change the rules and put you in control - we don't believe that because you may have had credit issues in the past that you shouldn't be helped now. With an unsecured guarator loan you will be lent to if you can provide a guarator for the loan - that is a person who is prepared to guarantee the loan repayments should you default on those payments yourself. No one is likely to act as a guarator unless they believe that you will repay the loan 100%. This is why your guarator is likely to be a parent, family member or very close personal friend - they will know you better than a computerised score ever could! Because you provide a guarator we do not need to credit check you and we do not base our lending decison on a credit score.
Detailed questions? Please see our FAQ page, or read our blog for examples and applicant comments
Who can apply for a Guarator Loan?
We are happy for anyone to apply for a guarator loan - so long as they can provide a guarator. So we can take loan applications from people who might be turned down by standard lenders - e.g. private or council tenants, self employed, people on benefits, and anyone with CCJs, defaults or other credit history problems.
View our General Lending Criteria
What is the Application Process?
Complete the simple, secure and fast online form. Our specialist lenders will assess your enquiry and then email and post to you (first class) the guarator loan offer documentation you and your guarator need to complete - this has been greatly simplified recently. You may receive loan offers from different lenders in which case you can compare and decide which one suits you best.
The posted documents will be with you 2-3 working days after you've enquired. The money you have requested will have be put aside for you ready to be paid out. Get your guarator to complete the simple paperwork. As soon as lender receives your signed guarator loan paperwork they will process it and an assigned personal caseworker will contact you. The lender aims to payout the loan within 24 hours of processing your signed paperwork.
Apply Now for a Guarator Loan
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