What is a guarantor loan?

A guarantor loan is a type of unsecured personal loan which enables people without a strong credit history to obtain a loan, with help from a friend or relative to guarantee the loan. Our loans are used for a whole host of reasons including consolidating debt, home improvements, vehicle purchases and repairs as well as weddings and holidays.

UK Credit will not base our decisions solely on a credit score. The most important thing to us is that the loan repayments are affordable to both the borrower and their guarantor. That’s why we undertake a full in-depth assessment with each party before approving our loans.

We don’t believe in charging our customers any upfront fees for our service and only conduct a soft credit search during the initial application, leaving you with peace of mind to decide if our loans are right for you.

What is a
guarantor loan?

A way of borrowing money with help from a friend or family member

Who can be a guarantor?

  • Friends, Parents, Siblings, Partner or Spouse, Children or Colleagues
  • Who has known you for more than 12 months
  • Who, like you is a homeowner
  • Is 25 or over at the start of the loan and under 70 at the end of the loan term
  • Can afford to and is willing to make payments if the borrower doesn’t

Guarantors must agree to be legally tied to a loan, acting as a back up in the event that payments are not be met by the borrower.

We will only approve a loan if we are confident the loan is affordable to the applicant and the guarantor having completed an affordability assessment.