Bad credit loans – get the finances you need

Types of guarantees

There are different types of guarantees you can explore:

Limited guarantee

This is a written document that binds you to fulfill a specific obligation. In most case, a limited guarantee is restricted in its application to a single transaction.

Debt consolidation guarantee

This is a type of guarantee that gives a chance to borrowers to repay all their credit debts. In this case, you will provide an asset as a security for the loan.

Term deposit guarantee

In this case, if the financial institution covered by the guarantee runs into trouble, investors will be able to recover their money from the government.

Top 3 guarantor loans

Amigo Guarantor Loan

You can borrow up to £10,000 with the 49.9% of APR. Loan terms are from one year to five years. You have to be UK resident, 18 years old and guarantor is required. For instance, if you borrow £4,000 over 3 years, monthly installment will be £195.16 and £7,025.76 in total.

amigo
buddy

Buddy Loans Guarantor Loan

With this lender you can borrow from £1,000 to £10,000 with the 49.9% of APR. You can repay the loan within five years. For example, if you borrow £3,250 over 36 months, you will repay £158.5t per months and £5,714.67 in total. You need to be a UK resident, 18 years old and this loan is restricted to specific geographical areas.

Twisttwo Guarantor Loan

The loan amount you can borrow is between £500 and £10,000. The representative APR is 49.5% and loan terms are from 1-5 years. In this case, if you borrow £4,000 over 3 years, then you will repay £194.55 per month and £7,003.80 in total. You have to be a UK resident, 18 years old, and the guarantor is required.

twisto

Unsecured guarantor loan

If you need quick cash, but you have a bad credit rating, then you should consider applying for a guarantor loan. This is a type of unsecured loan that requires a guarantor, and it’s an excellent solution for short-term financial needs.
Unexpected costs are part of the life, but the unsecured loan could potentially solve your financial issues. To apply for an unsecured guarantor loan, you will need a person who has an excellent credit history, and he will co-sign the credit agreement with you. In most case, a person must be between 18-75 years old and not your spouse.