UK Credit is a direct lender and not a broker. If you’ve struggled with your finances before and find it hard to get a loan on the high street, UK Credit’s guarantor loans could be a good option for you. It offers a good range of loans, even to tenant guarantors, and can have slightly lower interest rates than many guarantor loans providers.
Guarantor loans from £1,500 to £12,500
Competitive rates from 31.9%.
Your guarantor can be a homeowner or a tenant.
Poor credit, CCJ's & Defaults always considered.
Fixed-rates – so your payment won't change during the loan.
Representative example: Borrow £6,000.00 over 3 years at a rate of 47.9% p.a. (fixed). Representative APR 47.9% and total payable £10,364.04 in monthly repayments of £287.89.
Warning: late repayments can cause you serious money problems. See our debt help guides.
What is a guarantor loan?
A guarantor loan has the extra security of a second person agreeing to pay any unpaid balance on the monthly repayments. This means that even people with a very low credit score could get access to a loan, and you could even improve your credit rating if they make all repayments on time.
Key features of a UK Credit loan
Borrow £1,500–£12,500 over 18-60 months. The loan terms available will vary according to the size of loan requested.
Get a personalised quick quote with no impact on your credit rating. Use UK Credit’s loan calculator to get a personalised look at what you can expect from one of its loans.
Fixed monthly repayments. You’ll always pay the same each month from the first to the last.
Available for people with tenant guarantors. People with tenant guarantors can borrow up to £6,000.
No set-up fees.
Overpay on your loan and save on interest. UK Credit doesn’t charge anything for overpayments of up to three times the regular payment, and this will shorten your loan term.
Guarantor loans from UK Credit
Table: sorted by representative APR, promoted deals first
Am I eligible for a UK Credit loan?
UK Credit will consider people with very bad credit ratings, CCJs and past bankruptcies, however all applicants must:
Be 18 to 70 years old when the loan is granted
Be a UK resident with a valid bank account
Be either employed, retired or self-employed, or on certain benefits
Have no bankruptcies or IVAs in the last 12 months
Not have a debt management plan currently
Be able to make the payments
As well as this, it’s important that your guarantor is:
Between 21 and 70 years old at the time the loan is granted
A homeowner or a tenant in employment
Without bankruptcies in the last six years
Without debt management plans or IVAs in the last six years
Able to make the payments if you can’t
How do I apply for a UK Credit loan?
Enter the amount you want to borrow and for how long on the UK Credit website. You’ll also need to say if your guarantor is a tenant or a homeowner.
You and your guarantor will then receive an application to fill in together.
After running a few checks, UK Credit will call you to run through some of the final details.
The loan will be paid into your guarantor’s account, and they can then transfer the funds to you.
Frequently Asked Questions
A guarantor is someone who agrees to provide the security on a loan for a borrower. They do this by agreeing to take liability for any missed payments.
The money in a guarantor loan is paid to the guarantor’s bank account, who can then transfer the money to you.
Yes, UK Credit can calculate an early settlement for you if you call its helpline. There is a charge of approximately 2 months interest, but depending on where you are on the loan, this can result in a dramatically reduced cost overall.
No, payments are fixed for the duration of the loan.
Yes, UK Credit will consider spouses for guarantors as long as they can show they have an independent ability to pay the monthly repayments. For example, if they have a regular income paid into a non-joint account.
Yes, overpayments are free of charge for up to three times the regular loan amount, and because interest is charged daily, the quicker you pay off the less interest you have to pay overall.
If you are struggling to make payments, call UK Credit as soon as possible. They will try to come to an arrangement with you, but if they can’t they may contact your guarantor for payment.
Yes, UK Credit is regulated by the Financial conduct authority and have excellent reviews on TrustPilot.
Yes, UK Credit do consider existing customers for ‘top-up’ loans, but they will likely only accept people who have a good track record so far.
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
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