How is it being a guarantor
on a loan?

Being a guarantor on a loan is the strength of guarantor loans. As a guarantor you know the borrower, and you feel they can and will repay the loan.

As a guarantor we will ask various financial questions in our assessment of you in guaranteeing the loan.

Once we have finished that process and the loan is approved, you will not hear any more from us as long as the loan is paid as greed, except for an annual statement we are required to send you.

The only time you are as a guarantor become involved with the loan again, is if unfortunately a payment is missed. We would contact you to make you aware, and to ask for your support to get in contact with the borrower to get the loan caught back up.

If for any reason the loan cannot be brought current quickly, we may then need to take further action against the borrower. We would also require you the guarantor to make any missed payments in lieu of the borrower's missed payments. Naturally, we would be contact with you throughout this entire process, and make suitable arrangements for both you and ourselves.

If for whatever reason the loan is not brought back current with any missed payments, we may need to take further action against the borrower, and possibly yourself, which could impact your credit rating and credit score.

These are always last resorts, and we will try to avoid them.

Benefits of a Buddy Loan

  • Easy online application
  • Quick approval
  • Money in your account within 24 hours (in most instances)
  • No deposit required
  • No upfront fees
  • Loan can be for any purpose, to buy a car, consolidate bills, repairs, home improvements
  • Competitive interest rate
  • Loan can be paid back over 60 months (5 years)

Apply today and have your loan tomorrow!

Apply for your loan
Trustpilot

Buddy Loans is a direct lender rated 5/5 stars by Trustpilot.com based on 1128 merchant reviews

Fantastic

Always helpful, reliable and will go out of there way for customers, never had an issue an this is my second loan with them Same great service each time!

Excellent

Great Company, the communication from start to finish was great, my loan was quickly approved and I received the full amount within 48 hours. I highly recommend Buddy Loans to anyone looking for a guarantor Loan.

Great customer service

I dealt with 2 people mainly and they were soo helpful. Couldnt ask for better customer service.

Friendly

Very helpful, everything was explained to me and I was asked if I understood each step. Good communication and all callers very friendly. The loan will take a lot of worry off my daughter and I was happy to be her guarantor.

Excellent

I found them very polite and helpful, they quickly and efficiently sorted out my loan and kept me up to date with its progress. Daniel in applications was brilliant as was Paul in the underwriting team. Thoroughly recommend them!!

Prompt and fast payout

A very professional firm with very little paperwork involved all done and completed within a week. Faultless.

I was a guarantor

These were great. Polite, professional and had a genuine concern to ensure all was explained. I was the guarantor for a good friend and know these guys helped him so much.

Excellent friendly helpful service

Every person I spoke to was very friendly and helpful and they were very knowledgeable about their product would recommend to anyone looking for a loan

Amazing service and very easy and simple process

Amazing service and very easy and simple process. Thank you very much. Would highly recommend. Staff were great very friendly and very informative about everything

Brilliant!!

From the initial application online right through to the pay out team, brilliant! Easy online application followed by a prompt call back. The whole process was explained thoroughly by a friendly team. Can't thank Buddy enough!!

Excellent

9.5

from 0 to 10

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.

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.