UK Credit guarantor loans calculator and 2020 review

Access better rates that you might on your own, by applying for a UK Credit loan with a friend or relative acting as your guarantor.


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UK Credit

UK Credit is a direct lender (not a broker) serving people who may have struggled with finances before and find it hard to get a loan on the high street. The guarantor that you apply with will need to have a good credit history. They don’t need to be a homeowner, but if they are, then UK Credit could offer preferential rates.

Guarantor loans from UK Credit

Table: sorted by representative APR, promoted deals first
Name Product Total Payable Monthly Repayment Representative APR Link
UK Credit Limited Homeowner Guarantor Loan
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Representative example: Borrow £14,000.00 over 3 years at a rate of 29.9% p.a. (fixed). Representative APR 29.9% and total payable £20,426.40 in monthly repayments of £567.40.
UK Credit Limited Tenant Guarantor Loan
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Representative example: Borrow £5,000.00 over 3 years at a rate of 39.9% p.a. (fixed). Representative APR 39.9% and total payable £8,045.64 in monthly repayments of £223.49.

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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.

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

Loan typeUnsecured Personal Loan
Loan amounts£2,000.00 to £15,000.00
Loan terms18 Months 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

UK Credit’s rates are tailored to the applicants, and may vary from the advertised representative APR (which we use in the calculator above), however you can get a personalised quick quote with no impact on your credit rating at UK Credit’s site.

The loans don’t come with “application” or “product” fees, and because the interest rates are fixed, you’ll always pay the same each month, from the first to the last.

UK Credit doesn’t charge anything for overpayments of up to three times the regular payment. Overpaying will will shorten your loan term, rather than reducing the size of the monthly payments.

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?

  1. 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.
  2. You and your guarantor will then receive an application to fill in together.
  3. After running a few checks, UK Credit will call you to run through some of the final details.
  4. The loan will be paid into your guarantor’s account, and they can then transfer the funds to you.

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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