Compare Guarantor Loans
Compare Guarantor Loans…
Account login and SSL: No login
Available: £1000 to £5000
Backing Requirement: UK homeowner with good credit rating between 25 and 72
Interest Rate: 47.9% APR (fixed)
Total 12 Month Charge: £228.44 per £1000
Total Monthly Interest: 1.9%
Term: 12 to 60 months
Trade Association: No
+ Best price for guarantor loan
+ Fixed rate in place and so there are no broker fees
– No account login
– No membership
Section 1: Guarantor Loan Lenders…
Amigo Loans (2005) (Previously FLM Loans)
Account login and SSL: Yes
Available: £500 to £5000
Backing Requirement: UK homeowner with good credit rating between 18 and 75
Interest Rate: 49.9% APR (variable)
Total 12 Month Charge: £236.72 per £1000
Total Monthly Interest: 1.97%
Term: 12 to 60 months
Trade Association: No
+ 2nd best price for guarantor loan
+ Complete the entire loan process online
+ Minimum age of just 18
+ Most experienced service (2005)
+ You can repay early at any time
– Broker fee required for all referrals
– No membership
TFS Loans (2010) (Domain reg year. Unknown founding year)
Account login and SSL: No login
Available: £1000 to £7500
Backing Requirement: UK homeowner with good credit rating between 23 and 69
Interest Rate: 48.6% APR (fixed) (their loan examples work out to be in the 60s though)
Total 24 Month Charge: £630.80 per £1000
Total Monthly Interest: 2.63%
Term: 24 to 72 months
Trade Association: No
+ Highest term of 72 months
+ Largest figure of £7500 possible
– No 12 month term
– No account login
– No membership
Section 2: Guarantor Payday Loan Lenders…
Account login and SSL: Yes
Available: £50 to £500
Backing Requirement: UK resident with good credit rating above 21
Total 12 Month Charge: £17.73 per £100
Total Monthly Interest: 17.73%
Term: 1 months to (not stated)
Trade Association: No
+ You can repay early at any time
– No membership
– Relatively new service
– The fixed APR figure is the same as FLM Quick and so the additional cost may be a transfer fee
FLM Quick (2008) = Now Closed
Notes:
– If struggling to find a backing then the doorstep/logbook lenders are usually worth checking out.
– There are a few less well known guarantor lenders to be added soon.