1Plus1 loans review

Founded in 2013, 1Plus1 Loans offers guarantor loans to people who might struggle to get approved for a loan on their own. With a guarantor loan, you apply with a friend or relative who promises to take on your debt if you default on the loan.

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1plus1 Loans

1Plus1 is a relatively small, family-run direct lender (not a broker) that prides itself on being secure and trusted – having received a Gold Trusted Service award from the reviews platform feefo. Although you can expect higher rates with any guarantor loan, 1Plus1 will consider anyone for a loan and offers quick access to funds. Many 1Plus1 customers get the funds in their account the same day they apply.

Our calculator lets you pick how much you want to borrow over a time frame that suits you, so you can estimate how much you would pay back each month and pay back overall. We base our calculations on 1Plus1 Loans’ representative APR, but it’s important to note that your circumstances can affect the rate you’re offered.

Name Product Total Payable Monthly Repayment Representative APR Link
1plus1 Loans Guarantor Loan
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 47.8% p.a. (fixed). Representative APR 47.8% and total payable £17,259.12 in monthly repayments of £479.42.
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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

Key features of a 1Plus1 loan

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £10,000.00
Loan terms1 Year to 5 Years
Loan rate typeFixed
Product fee0%
Same day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsCheque, Direct Debit, Standing Order

What is a guarantor loan?

Rather than lending based on your credit score or your assets, guarantor loans require a second person to act as second signatory and security. This means that someone who has a better credit rating or who owns property can apply for the loan with you, so long as they agree to meet any payments you can’t. If your credit rating is low or non-existent, this can be one of your only options for securing some extra finance. Fortunately, they also count towards your future credit rating, so if you always pay on time you may find it easier to get finance through the regular lending streams next time.

Am I eligible for a 1Plus1 loan?

As long as you are not currently bankrupt or have a IVA, 1Plus1 will consider you for a loan. However there are quite a few criteria your guarantor will have to meet for your loan to be considered. They must:

  • Be 18+ or over 21 if they are not a homeowner. They must also be aged under 75 at the time the loan completes.
  • Be a resident in the UK. They can be a homeowner or a tenant with a very good credit rating. Unfortunately Channel Islands residents can’t currently act as your guarantor with 1Plus1.
  • Have a UK bank account and a valid UK debit card.
  • Not be currently bankrupt or with an IVA.
  • They must be able to meet the payment if you cannot.
  • They cannot be a spouse that lives with you, but can be a cohabiting parent.

How do I apply for a 1Plus1 loan?

  1. Go to the 1Plus1 website and fill in your details on the “Apply” page.
  2. Get your guarantor to register and receive a unique guarantor code if they are accepted.
  3. Apply the guarantor code to your loan application, and apply for a 1Plus1 loan.
  4. You’ll get a quick decision and the funds could be in your account the same day.

1Plus1 staff are available online around the clock, 7 days a week.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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