UK Credit tenant guarantor loan review December 2019

UK Credit Limited Tenant Guarantor Loan
UK Credit Limited Tenant Guarantor Loan Find out more Go to site

If you’re held back by a poor or limited credit record, applying for a loan with a guarantor could secure you a better rate than you might get alone.

UK Credit is a direct lender (not a broker) offering guarantor loans to help borrowers who don’t have fantastic credit records to access affordable credit. Guarantor loans require a friend or relative of the borrower to promise to step in if the borrower is unable to repay.

If your guarantor owns their home, UK Credit might be able to offer you a lower rate, but if your guarantor is a tenant, then all’s not lost. This product is designed for would-be borrowers whose guarantor doesn’t own their own home. However, your guarantor will need to have a good credit score.

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

Key details

Loan typeUnsecured Personal Loan
Loan amounts£2,000.00 to £6,000.00
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
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.

Am I eligible?

Available toNew or Existing Customers
Age18 to 70
ResidencyUK resident
Credit profilesFair, Poor
Additional requirementsMust not have not been bankrupt or in an Individual Voluntary Arrangement in the past 12 months, and must have no Debt Management Plan.

Is the guarantor I have in mind eligible?

Age21-70
ResidencyUK resident
Additional requirementsMust not have been bankrupt in the past 6 years, must have no Debt Management Plan or Individual Voluntary Arrangement over the past 6 years, must be employed.

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
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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.

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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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