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.
Updated
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.
TFS Loans is a direct lender, so you’ll always know where you’re borrowing from. If you’ve been refused credit by the high-street banks before, TFS Loans has a good range of guarantor loans to choose from and an efficient service to see you back on your financial feet. Having been around since 2003, it’s a tried and tested lender that’s gimmick free.
A guarantor loan is higher-interest loan that’s usually available to you even if you have a bad credit rating or none at all. Whilst most high-street banks would turn you away, guarantor loans providers ask for a guarantor to agree to pay the repayments if you can’t. As long as you’re sure you can make the repayments this shouldn’t be a problem, and can improve your credit rating in the long-run if you pay on time.
Loan type | Unsecured Personal Loan |
---|---|
Loan amounts | £2,000.00 to £15,000.00 |
Loan terms | 2 Years to 5 Years |
Loan rate type | Fixed |
Product fee | 0% |
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 methods | Cheque, Direct Debit, Standing Order |
Even if you’ve had past bankruptcies or have a poor credit score you may be eligible for a TFS loan. However you will need to:
A guarantor for a TFS loan should be someone who is willing and able to make the payments for you if things go wrong. They must be:
If you think that a TFS loan is right for you, here’s how the application process works, step-by-step:
Realistically, guarantor loans take longer than loans involving a sole applicant, due to the extra checks involved. TFS states that, on average, it takes 2-4 days for a loan to be paid out, but it can be as fast as the same day.
You can speed up the process by having your bank account number and sort code handy, along with the name and address of your employer and your net income. You can also make sure your guarantor is primed and ready – they’ll need to complete their part of the application form and they’ll also need to have a brief chat over the phone with TFS, to endure they understand what they’re getting into! Finally you guarantor will need to transfer the funds to your account.
There aren’t a lot of customer reviews of TFS loans available online.
On Trustpilot, TFS loans has 2.5 out of 5 stars and a rating of “Poor”, based on only a handful of reviews.
Things are considerably better on Feefo, where TFS loans has 4.7 out of 5 stars, based on more than 35 reviews (updated 13 May 2020).
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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