Trusttwo non-homeowner guarantor personal loan review December 2019

Trusttwo Trusttwo (Tenant Guarantor) Personal Loan
Trusttwo Trusttwo (Tenant Guarantor) Personal Loan Find out more Go to site

A guarantor could help you get a personal loan even if your credit score isn’t ideal.

Getting credit with a poor credit score is complicated, but not necessarily impossible.

Trusttwo is a direct lender that specialises in guarantor loans, allowing people whose credit rating is poor or fair to borrow money anyway, provided that they secure the help of a friend or family member that guarantees for them. Guarantors agree to repay the loan themselves if the borrower defaults.

Lenders usually offer a lower interest rate when the guarantor owns a house, but with Trusttwo, the difference between the two is not massive – so you can still get a decent deal even if your guarantor isn’t a homeowner.

In general, guarantor personal loans are more expensive than regular ones. However, the good news is that Trusttwo doesn’t charge any extra fees aside from the interest rate, even if your financial situation improves and you want to make overpayments. You can apply online in a few minutes and manage your loan from your online account.

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

Key details

Loan typeUnsecured Personal Loan
Loan amounts£500.00 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 methodsDirect Debit
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.7% p.a. (fixed). Representative APR 49.7% and total payable £17,537.04 in monthly repayments of £487.14.

Am I eligible?

Available toNew or Existing Customers
Age18 or over
ResidencyUK resident
Credit profilesFair, Poor
Acceptance noteApplicants with a tenant guarantor or a living with parents guarantor

Is the guarantor I have in mind eligible?

Age21-75
ResidencyUK resident for at least 3 years
IncomeMust have an income
CreditGood credit score and history
Additional requirementsThe guarantor must not be your spouse, but may be a close family member or friend. They must have separate finances to your own and be able to afford the repayments.

How does it compare against other tenant guarantor loans?

Table: sorted by representative APR, promoted deals first
Name Product Total Payable Monthly Repayment Representative APR Link
Go to site
View details
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.
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 49.7% p.a. (fixed). Representative APR 49.7% and total payable £17,537.04 in monthly repayments of £487.14.

Compare up to 4 providers

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.

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site