Guarantor loans allow anyone with a poor credit history, even people with a number of CCJs, defaults or rent arrears to borrow up to £5000. We can also help students, part time workers, contract workers, temporary workers, housewives and even the unemployed because there is no credit score to pass and no credit checks will take place. Why you may ask?

Well, because with a guarantor loan, all of the references, credit checks and other such lender requirements are done on the person who is endorsing or ‘supporting your application. This person is known as the guarantor. The guarantor you choose is exactly that, a person that you think will support your application and don’t worry if you think that you don’t know someone who can do this for you because a guarantor doesn’t have to be a family member or a friend. Your loan guarantor can be anyone such as a neighbour, work colleague or even your boss! As long as the guarantor agrees to the terms and conditions of the loan then it can be absolutely anyone as long as the meet the following criteria:

• · They must be at least 21 years of age
• · They must be a homeowner
• · They must have a fairly decent credit history

Now the first two are pretty easy to satisfy but the last point (about having a decent credit history) is a tough one because it is unlikely that you will know if they have a good, bad or indifferent credit history. The way we look at it is like this: If someone is in full time work and a homeowner, then there is an 80% chance that we will accept them as the guarantor for your loan. Of course there will be instances where we cannot accept them but to you the borrower, you are not going to know this until you submit your loan application to us. However we can promise that we will respect you and your guarantors privacy so if there is a possibility that we have to decline your application, the only people that will know about it are you and your guarantor.