Talk Loans

Talk Loans Guarantor Loans

If you have a poor credit history and need to borrow money, Talk Loans could match you with a guarantor lender from its panel.

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Talk Loans acts as a broker rather than a direct lender (it doesn’t lend you money itself, but it could help you find a suitable lender). It specialises in guarantor loans – where applicants with limited or poor credit apply with a friend or relative who contractually agrees to pay back the loan in the event that the borrower doesn’t.

If you need a loan quickly, you’ll only need to fill out your details once, and could theoretically have the money deposited in your guarantor’s bank account on the same day. In reality, guarantor loans usually take longer, as there’s more admin involved for the lender.

With a friend or family member acting as your guarantor, you could apply to borrow up to £16,000 over 12 to 60 months. If you’ve had previous CCJs or bankruptcy, your application will still be considered.

Comparison of guarantor loans

Table: sorted by representative APR, promoted deals first
1 - 2 of 2
Name Product Total Payable Monthly Repayment Representative APR Link
UK Credit Limited Unsecured Homeowner Loan
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 26.9% p.a. (fixed). Representative APR 26.9% and total payable £14,135.04 in monthly repayments of £392.64.
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.

Compare up to 4 providers

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.

What is a guarantor loan?

A guarantor loan is a type of unsecured loan that requires a co-signatory. This person might be a friend or relative. The guarantor agrees that they will pay back the loan should you struggle to meet the repayments.

Guarantor loans come with higher interest rates than your average loan from a high-street bank because they’re riskier for lenders, but they are a popular option for borrowers who might struggle to get approved for a loan on their own.

Key features of a Talk Loans guarantor loan at a glance.

  • Borrow £500 to £16,000 over 12 to 60 months. Choose a loan and term amount to suit you.
  • Unsecured loans. Your loan is not secured against an asset (such as your car or home).
  • Backed by your guarantor. Your loan will need to be guaranteed by a friend or relative who will commit to stepping in should you fail to repay your loan.
  • Tenant guarantors accepted. Talk Loans will accept guarantors who do not own their own home as long as they have a good credit history. However, the interest rate on these loans will be considerably higher. With a tenant guarantor, the maximum loan amount is £10,000.
  • Early repayment option. You can make ad-hoc payments or clear your balance at any time, which could save you money in interest.
  • Low credit scores considered. You could be approved for a Talk Loans guarantor loan even if you have a low credit score, previous CCJs or have a previously declared bankruptcy.
  • No fee. Talk Loans will not charge you a fee. However, you should always check the terms and conditions of the lender you are borrowing the money from.

Am I eligible for a Talk Loans guarantor loan?

Borrower eligibility:

To apply for a Talk Loans guarantor loan, you must:

  • Be aged over 18.
  • Live in the UK.
  • Have a valid bank account.
  • Have an income (most income types are accepted).
  • Be able to comfortably afford to meet the repayments.
  • Have a friend or relative willing to be your guarantor.

Guarantor eligibility:

To be a guarantor on your loan, your friend or relative must:

  • Be a homeowner, tenant, or live with parents or family members (interest rates are best with homeowner guarantors).
  • Be employed, self-employed, retired on a pension or even on benefits.
  • Have the ability to repay your loan if you are unable to.
  • Be 21 to 75 years old.
  • Have financial stability.
  • Have a fair or better credit history.
  • Know you well and trust you.

How can I apply?

If you think that a guarantor loan through Talk Loans is the best option for you, simply use the loans calculator on the website to work out your desired loan amount and term. Always ensure that you can comfortably afford to meet the monthly repayments.

You’ll then need to provide your personal details and some financial information.

Talk Loans will search its panel of approved lenders to find those who would be willing to lend to you. If you need a loan on the same day, you can filter out lenders who would take longer than this to deposit the money.

Most lenders will call both you and your guarantor to check your details and ensure that your guarantor understands the terms and conditions of the loan.

How do I pay back my loan?

As Talk Loans is a broker not a direct lender, the way you pay back your loan will depend on the lender who provides your loan. Most guarantor loan providers will take monthly repayments via direct debit. Usually, your guarantor is contacted only as a last resort.

Frequently asked questions

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