Select Loan Amount

£1,500

Select Loan Term

18

Your loan details

You want to borrow: £1.500
Over a period of: 18 months
Repaying: £113.07 p/m
Total repayable: £2,023.75
Interest rate: 41.16% (fixed)
Representative: 49.9% APR
  • We're a Direct Lender
  • No up front Broker Fees
  • Secure Connection

Borrow up to £7,500 with the UK's friendliest Guarantor loans website

Representative Example
Credit £3,250 for 36 months | Interest (fixed at 41.16%): £2,464.57. | Total amount payable of £5,714.67.
Representative 49.9% APR. | 36 repayments of: £158.57.

Top 6

Reasons why Buddy Loans is the UK's No.1 Guarantor Loans lender.

Same Day
Payouts

At Buddy our goal is to pay out loans on the same day of the application.

Bad Credit
No Problem

We will still consider your loan if you can afford it, even if you have CCJs or DEFAULTS.

Rebuild Your
Credit History

Keeping up with your repayments will improve your credit score.


No Early
Settlement Fees

If you decide to pay back your guarantor loan before the term we DO NOT charge you any early settlement fees.

Affordable
Repayments

Our Guarantor Loan repayments are competitive with the industry.

Any Purpose
Loans

Get your Guarantor Loan for a car, wedding, debt consolidation, home improvements, education fees, anything you want!

Have a look at our 60-sec video about Buddy Loans

A Buddy Loan is a guarantor loan and bad credit loans company where you can borrow from £1,000 up to £7,500, and pay it back over a period you can afford between 12 and 60 months.

With Buddy Loans, if you've got a good BUDDY, you can get a loan!

Trustpilot
5 Stars

Buddy Loans is a direct lender rated 5/5 stars by Trustpilot.com based on 222 merchant reviews

Excellent

9.6

from 0 to 10

Who can be my Buddy for my Guarantor Loan?

  • Family Member, Close Friend, Colleague
  • Aged between 18 – 75
  • UK Bank Account
  • OK Credit Score
  • Minimum Income - £1,000
  • Residential Status
    Homeowner, Tenant, Living with Parents

A Guarantor is a good friend, a family member or a work colleague who knows you can repay the loan, your Buddy guarantees the loan for you.


* Please note as a guarantor you will be responsible for ensuring that the loan is brought up to date in the event payments are missed by the borrower. In the event that payments are consistently missed this may impact on your credit score.

How Guarantor Loans Work

Apply
Online

Nominate
your Guarantor

Your application
will be assessed

Decisions within
the hour*

*during Buddy Loans opening hours

Same day payout
if approved before 5pm

Why choose Buddy Loans?

Because Buddy Loans is a QUICK and EASY way to borrow up to £7,500 with a Guarantor and...

Happy People
  • NO PAPERWORK
    to complete we're 100% online;
  • NO OUTRAGEOUS
    interest rates;
  • REPAYMENTS
    that are spread out over time, up to 60 months;
  • QUICK APPROVAL and the money in your bank account fast. We aim for same day pay-outs.

Representative Example

Borrow
£3,250

Term
36 months

Repaying
£158.57 p/m

Total Repayable
£5,714.67

Interest Rate
41.16% (fixed)


Representative 49.9% APR.

Terms and Conditions apply. Suitable Guarantor required. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over.

9Frequently Asked Questions

Most asked Guarantor Loans related questions

What is a Guarantor Loan?

A guarantor loan is an unsecured personal loan between £1000 and £7,500 taken over a period of 12-60 months. The only difference is that, due to the borrower's credit risk we ask for another person to guarantee that the loan will be repaid.

The guarantor agrees to repay the loan, should the borrower miss any payment on the loan. By guaranteeing the loan, guarantor loans can be really useful in helping rebuilding someone's credit who may have had some bad credit in the past, or loans for bad credit.

What is Buddy Loans for?

  • - Someone who may not have any credit and is looking to build a credit history
  • - Someone who may have had bad credit in the past, they can be loans for people with bad credit
  • - Anyone who may be in need of a loan quickly, without loads of paperwork and hassle

Do Buddy Loans credit score me?

Buddy Loans will consider your credit history and the credit history of your guarantor, however your loan will be primarily based on your ability to repay your loan. That's why a guarantor loan is a great loan for those with bad or no credit history.

Once your Buddy Loan has been approved we will make regular updates to our Credit Reference Agency about the performance of your loan, therefore if you pay on time each month then you will see your credit rating improve! Equally though in the event that a payment is not made as agreed then this may also appear on your credit file.

How long does it take to complete my application?

The application process is easy and straightforward. In most instances applications are approved within 24 hours, although it can be as quick the same day.

Can I settle my loan early?

Yes! If you wish to pay your loan off early you can do so at no extra charge.

What happens if I cannot afford to repay my Loan?

If you are, or believe you may start, encountering any issues with being able to meet your repayments we would urge you to contact us as soon as possible. If you miss a payment, we will then contact the guarantor and request payment from them.

Do you charge me for taking out a Buddy Loan?

We don't apply any fees or charges for your application or taking out a Buddy Loan. Your interest will accrue on a daily basis in line with that outlined in your credit agreement and each payment you make will be made up of paying your interest and a part towards the capital.

In the event that you do not make your agreed monthly payment then there may be a late fee added of £12.

Any other questions?

For additional FAQs please click here or please get in touch with us on 0800 788 0088 or 01618 540 640.

Minimum period for repayment: 12 months | Maximum period for repayment: 60 months | Minimum APR 49.8% | Maximum APR 49.9%
Representative example: Amount of credit £3,250 for 36 months. Interest (fixed at 41.16%): £2,464.57. Total amount payable of £5,714.67. Representative 49.9% APR (Variable). 36 repayments of: £158.57.