What if a guarantor has
a bad credit history?

If your guarantor is a homeowner, they do not need perfect credit, however, they do need decent or passable credit. If your guarantor is not a homeowner, then they will need to have good credit.

Guarantors with bad credit will not be strong choices to guarantee a loan. The basis of a Buddy Loan is the guarantor.

The borrower can have bad credit in the past, or even no credit, but the guarantor is the strength of the loan, and as such does need to have good credit.

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!

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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.