Guarantor Loans Online | Guarantor Loan Lenders (Bad Credit)

Guarantor Loans Online
About…

A guarantor provides a guarantee on a debt owed by a third party. This type of contract (surety) has evolved in subprime lending to enable people with poor credit to obtain a loan via the backing of a family member or friend. The person supporting the application will need to have a solid borrowing history themselves. They become fully responsible to the debt should any repayment issues arise. There is a sizeable demand for this type of product, but supply does fall short with there being just over a dozen competing brands. This is unsurprising, with this not particularly being the most attractive niche to enter due to the market leader’s high level of dominance.

This dominant force is Amigo Loans who have operated since 2005, originally under the FLM identity (Amigo was introduced in 2012). Over time they have crafted a near-perfect sector product that has benefited greatly from mainstream TV advertising. One of the only areas where rivals have edged them out is on the pricing side. The general APRs across the wider sector tend to float between 40% and 50% that highlights good value, especially since CCJs and defaults aren’t problematic to the borrower. Sizeable sums of £10,000 are commonly pitched and it does help that the contracts can be spread across 5 years. Same day turnarounds are possible and guarantors can be tenants (only GuarantorMyLoan & TFS always require homeowners).

Brand New Guarantor Lenders 2019

There are just 14 active brands and this tally was previously much higher. Closures have been common and Amigo are as noted imposing to new entrants. An example of this is Provident’s GLO project that soon fell apart and Provident Financial are of course a top subprime player turning over £1.2 billion. Future entrants are likely to take the same pathway as Bamboo & George Banco in pitching twin products (standard unsecured + another with guarantors). This is what we saw with Curo’s Juo who arrived in 2017. Juo’s big USP is Sunday trading. GuarantorLoans4Me is the very newest arrival in 2018, but this is essentially another face of Buddy (no differing specs).

Compare Homeowner Guarantor Loans: Direct Lenders 2019 (14 Brands)

12m & 24m Cost /£1000

£236.72 & £483.68

£235.72 & £481.50

£236.12 & £482.24

£235.16 & £480.08

£228.32 & 465.68

£235.10 & £482.08

£233 & £470

£317.36 & £658.64

£129.81 & £413.35

£232.52 & £474.80

£235.10 & £482.08

£1620.16 & £3240.32

£239.79 & £485.06

£148.88 & £298.16

£228.68 & £466.40

£236.72 & £483.68

Guarantor’s Age

18-75

21-72

21-75

21-75

21-70

18-80

18-75

18-78

21-75

21-75

18-80

18+

25+

25-73

20-75

18-75

Sums & Terms

£500-£10,000 & 12-60m

£1000-£8000 & 12-60m

£1000-£7500 & 12-60m

£500-£10,000 & 12-60m

£1000-£10,000 & 12-60m

£1000-£10,000 & 12-60m

£500-£10,000 & 12-60m

£1000-£15,000 & 12-60m

£1000-£10,000 & 12-60m

£1000-£10,000 & 12-60m

£1000-£10,000 & 12-60m

£550-£10,000 & 3-24m

£1000-£3000 & 12-36m

£1000-£10,000 & 12-60m

£500-£5000 & 6-60m

£500-£7500 & 12-60m

Traffic Rank (Alexa)

#12,006

#25,672

#48,567

#68,272

#88,882

#109,090

2.2m

2.5m

5m

5m

12.5m

Unranked

Unranked

Unranked

Unranked

Unranked

Compare Tenant Guarantor Loans: Direct Lenders 2019 (12 Brands)

12m & 24m Cost /£1000

£236.72 & £483.68

£235.72 & £481.50

£236.12 & £482.24

£236.96 & £484.16

£317.24 & £658.40

£235.10 & £482.08

£233 & £470

£235.10 & £482.08

£1620.16 & £3240.32

£239.79 & £485.06

£228.68 & £466.40

£236.72 & £483.68

Guarantor’s Age

18-75

21-72

21-75

21-75

21-70

18-80

21-75

18-80

18+

25+

20-75

18-75

Sums & Terms

£500-£10,000 & 12-60m

£1000-£8000 & 12-60m

£1000-£7500 & 12-60m

£500-£10,000 & 12-60m

£1000-£6000 & 12-60m

£1000-£10,000 & 12-60m

£500-£10,000 & 12-60m

£1000-£10,000 & 12-60m

£550-£10,000 & 3-24m

£1000-£3000 & 12-36m

£500-£5000 & 6-60m

£500-£7500 & 12-60m

Traffic Rank (Alexa)

#12,006

#25,672

#48,567

#68,272

#88,882

#109,090

2.2m

12.5m

Unranked

Unranked

Unranked

Unranked

*Notes:
~ Alexa.com: Rankings are sorted by Alexa UK ranks. Sites with much less traffic can only manage a global rank that is used next. The remaining sites are tied (these had no UK or global rank).
~ Broker fees: These charges are often packaged when you’re referred by a partner. This is why some lenders show variable APRs. This isn’t always the case though. Amigo for instance has variable APR due to potential future APR changes (they fully pay broker fees out of their own pocket).
~ Characters used: 💷 = GuarantorMyLoan (cashback). 🔞 = Lendfair Advantage 29 (21+ applicants). Advantage 29 is also 🅿️ (prime only).
~ Comparison sections: The extra section used in this comparison was “Guarantor’s Age”. JL Money & Juo don’t state upper limits.
~ Pricing: A sample £1000 loan has been compared over both 12 and 24 months. Spreading the repayment out even further would be a good idea if you are applying for a sizeable loan. One thing to add is that when you borrow £1000 you tend to be restricted to 3 years.
~ Recent closures: Consollo, GLO, Hero Loans, Masa Loans, Suco & The Quick Cash Club. Both Masa and Suco became broker brands.
~ Specific lender notes: GuarantorMyLoan’s cashback deal is shown. They repay a monthly repayment after a full year of payments are made. The savings provided would be £102.71 (12m) & £61.45 (24m). GML for reference is peer-to-peer (when investing, the estimated return is 8% to 10%). JL Money requires their product to be phoned through. Lendfair offers 2 main products (one is homeowner-only). See their profile for more details. TFS offers £1k to £10k as standard, whilst £15k is available to homeowner applicants. They receive a special APR of 29.9% (on £10.5k-£15k).

Feedback: Best Reviews
Feefo
Past 12 Month Data

1) 1Plus1 Loans
96% Rated | 120+ Reviews (12m)
1Plus1 Loans

2) TFS Loans
92% Rated | 170+ Reviews (12m)
TFS Loans

3) TrustTwo
90% Rated | 480+ Reviews (12m)
TrustTwo

Trustpilot
All-Time Data
1) Bamboo
97% Rated | 8910+ Reviews
Bamboo

2) GuarantorMyLoan
97% Rated | 180+ Reviews
GuarantorMyLoan

3) George Banco
95% Rated | 4770+ Reviews
George Banco

*Note:
No lenders use the Reviews.co.uk portal.

Pricing: Cheapest Homeowner Guarantor Loans with Bad Credit
Top 12m Prime: Lendfair (21+): £148.88 /£1k
1) GuarantorMyLoan (+Cashback)
= £129.81 /£1k
GuarantorMyLoan

2) TrustTwo
= £210.92 /£1k
TrustTwo

3) UK Credit
= £228.32 /£1k
UK Credit

Pricing: Cheapest Tenant Guarantor Loans with Bad Credit
No Prime Option for Tenants
1) LendFair
= £228.68 /£1k
LendFair

2) 1Plus1 Loans
= £233 /£1k
1Plus1 Loans

3) Bamboo
= £235.72 /£1k
Bamboo

Weekend Guarantor Loans: Opening Hours

~ AmigoLoans: Mon/Thu (9am-7pm), Fri (9am-6pm), Sat (9am-1pm)
~ Bamboo: Mon/Fri (8am-8pm), Sat (9am-2pm) | Existing: Mon/Thu (8am-8.30pm) & Fri/Sat (9am-5pm)
~ BuddyLoans: Mon/Thu (9am-7pm), Fri (9am-4.30pm), Sat (10am-2pm)
~ GeorgeBanco: Mon/Thu (9am-7pm), Fri (9am-4.30pm), Sat (9am-3pm) | Existing: Mon/Thu (9am-7pm), Fri (9am-5.30pm) & Sat (9am-1pm)
~ GuarantorLoans4Me: Mon/Thu (9am-7pm), Fri (9am-4.30pm), Sat (10am-2pm)
~ GuarantorMyLoan: Mon/Fri (9am-6pm), Sat (9am-1pm)
~ JuoLoans: Mon/Fri (8am-8pm), Sat (9am-5pm), Sun (10am-4pm)
~ TrustTwo: Mon/Fri (9am-5pm), Sat (9am-4pm)
~ UKCredit: Mon/Fri (8am-8pm), Sat (9am-1pm)

Last Update: February 22nd, 2019