Guarantor Loans from £1,000 up to £10,000 repayable up to 60 months*

How much cash do you need?


How long do you need the cash for?


Your loan details

You want to borrow: £1,500
Over a period of: 18 months
Repaying: p/m
Total repayable:
Interest rate: 41.16 (fixed)
Representative: 49.9 APR (variable)


Representative Example

Representative Example

You want to borrow:
Over a period of:
Repaying: p/m
Total repayable:
Interest rate: (fixed)
Representative: (variable)

Terms and Conditions apply. Suitable Guarantor required.
All loans are subject to status and affordability checks prior to approval.
All applicants must be 18 or over.


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Guarantor Lender

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Guarantor Loans

Frequently Asked Questions

A close friend or family member, someone who feels that you will repay the loan. A guarantor needs to be someone who knows you, but is not financially linked to you. If for any reason you do not repay the loan, it will then become the guarantor's responsibility.

Not in all instances. If a guarantor has a strong credit rating and credit score, they do not need to own property.

Interest rates for guarantor loans are higher than a standard bank loan due to the risk to the lender. Interest rates can be around 40% to 50% APR/Annual Percentage Rate. Rates for guarantor loans while higher than a standard bank loan, are much lower than the 1500% to 2000% or higher for a payday loan.

Guarantor loans can be for various amounts, £1000, up to £10,000 in some instances. Terms can be for as long as 60 months/five (5) years. This makes repayments more affordable.

Your loan is repaid each month via direct debit and your personalised loan contract will detail the amount of your monthly payments. You can obviously set a date each month for us to collect your payment which is convenient to you.

If your payment fails, for whatever reason, then we will get in touch to make suitable arrangements and will look to get your account up to date ASAP by taking a debit/credit card payment.

If you think you are starting to have any financial concerns, please call us ASAP and we will see what we are able to do to help you; our telephone number is 0161 850 4141!

If you need any further information about how you can manage any arrears you have then view some regulatory advice here

Whilst we can't offer you specific financial advice, we will try and help you maintain your Buddy Loans payments in an affordable fashion. In the event that you don't make your payment, then we will try our best to contact you but if we aren't able to then we will contact your Guarantor to discuss your account.

As Guarantor, you are really helping out your friend/family member/work colleague in getting the credit they need.

As with any commitments this also comes with some responsibilities to help ensure that they keep on top of their payments.

We will keep you informed at all times throughout the loan of anything you need to know about, but if there are any hiccups along the way then we may be in touch to discuss any missed payments.

Ultimately, if your borrower doesn't make their expected payments and/or doesn't make any agreement to catch it up then we will look to you to cover any missed amounts.

As you are acting as guarantor for the loan, then the only updates to our credit reference agency are regarding your borrower. However, if payments are missed for a period of time and, as Guarantor, you don't make sure that the loan is brought up to date, we will be required to report this through to our credit reference agency. This will have an impact on your credit score and is stored by them for up to 6 years! We will try our best to contact you and make suitable arrangements before this happens so would urge you to contact us if there are ever any problems.

Yes, guarantor loans are underwritten in the same process as other forms of loans, and affordability checks are in place. The nature of the loan is that the borrow may have poor or no credit, so a guarantor strengthens the loan.

Yes, many lenders do not have prepayment clauses and you can pay the loan off early, or pay more towards the loan each month.

Approvals vary from lender-to-lender, many will have the loan approved in 24 hours depending on what documentation is required and how quickly it is provided. Once the loan is approved, the money can be transferred to the borrower's account within hours.

If for any reason the borrower cannot repay the loan, the lender will contact the person who guaranteed the loan for payment, they will then be responsible to pay the loan.

We want to make sure that your loan works in the best possible way for you so have tried to make the application process as simple and straightforward as possible.

If you have any questions about your application at any stage, feel free to give us a call on 0161 850 4141!

  1. Apply online selecting the amount you wish to borrow and over how long – don't forget to have a play around using our calculator to ensure that your chosen repayments are the most affordable to you first!
  2. Provide us with your personal information so we can start the assessment process
  3. Nominate your Guarantor
  4. One of our team will give you and your Guarantor a call to talk through your loan application, your credit history and your affordability. Here we will talk through how much income you receive along with any monthly regular outgoings to ensure that your loan is affordable for both you and your guarantor
  5. Loan approved? One of our payout team will give you a call to talk you through the final detail of your loan, do our final security checks and get the funds paid out!

Sounds simple eh? Well that's because we've tried our best to help you get your loan in the most simple and straightforward way

Here at Buddy Loans we obviously think that our Guarantor loans are the best thing since sliced bread, but you might not have heard of such a thing before, so here's a few reasons why we think they are so good!

  1. As the high street and mainstream banks have tightened up their lending criteria over the last few years, many people can struggle to get the credit they need at an affordable rate.
    1. Had a problem with managing your finances in the past? This can definitely be a big no-no for mainstream lenders and our experience is that they are very reluctant to give any sort of credit to some with missed payments, arrears, defaults etc. on their credit file. With this in mind, if you have the affordability to pay your loan then getting someone who has a good credit history to support your application means that you can potentially obtain the credit you need from Buddy Loans!
    2. Haven't had any credit before? If you are unproven in the credit market, then getting credit can sometimes be a real struggle. Again, if you can find yourself a suitable guarantor who is willing to help you out then potentially we can help you out in getting the loan you need
  2. We can offer you flexible repayment dates throughout the month which best suit you to ensure your repayments are made at the right time
  3. Our application process isn't that typical automated "computer says yes or no"!... You will speak with one of our team who will go through the whole process with you to ensure that your loan is best suited to you and that most importantly its affordable to both you and your guarantor.
  4. We can process your loan quickly... Our online application process coupled with the discussions you will have with our team mean that we can typically get your loan agreed within the same day if everything is in order. This means we can get the money you need to you in a timely fashion.
  5. Here at Buddy Loans we pride ourselves on our customer service and that personal touch, so, if there's anything you need to talk through either during your application, or once you've got your loan, then just pick up the phone and give us a call on 0161 850 4141.

We do want to support you in the best way we can and equally need your guarantor to be a credit worthy. We'll talk them through the process and ensure that they meet our requirements but please talk to your guarantor to ensure that they are comfortable standing as your guarantor. In short, your guarantor is not only there to support your application but also the ongoing repayment of your loan for the whole term. If for any reason you are aren't able to make your payment in a particular month, then we will contact your guarantor to ask for their help in arranging payment - this might mean they get a call from us if you miss your payment or if we can get in touch then they might have to make the payment themselves. In the unfortunate event, if neither of you make the payments for the loan then ultimately we will pursue both you and your guarantor for any outstanding monies and it may result in your credit ratings being affected and potential action being taken. We would always urge you to stay in contact with us as we will help you wherever we can if you are experiencing any issues with your finances. Our interest rates are a little bit higher than mainstream bank and high street lenders; our annual interest rate is 41.16% which works out to 3.43% per month. We do work out our interest on a daily basis so if you ever want to pay off any higher amounts from your loan then it will cost you less in the long run. You can make a payment to us without charge or any extra cost to you!

A Guarantor is a good friend, a family member or a work colleague who knows you are a good person and knows you can repay the loan, your Buddy guarantees the loan for you.

The ideal Guarantor can be:

  • Parents
  • Auntie / Uncle
  • Daughter / Son
  • Grandparents / Brother / Sister
  • Husband / Wife / Work Colleague
  • Boyfriend / Girlfriend
  • Your Pet
  • Stranger you met in a bar

Minimum period for repayment: 12 months | Maximum period for repayment: 60 months | Minimum APR 49.8% | Maximum APR 49.9%
Representative example: Amount of credit for . Interest (fixed at ): . Total amount payable of . Representative (Variable). repayments of: .