What's the criteria for a guarantor
in a guarantor loan?

As a borrower looking for a guarantor when applying for a Buddy Loan, you want to have a guarantor that knows you, such as a close friend, family member, or someone you have worked with for a period of time.

You want your guarantor to know you and know you will repay your loan.

Other criteria would be is your guarantor a homeowner?

A guarantor does not need to be a homeowner, but they do need good credit.

Does your guarantor have good credit?

A guarantor does not need perfect credit, but they need to have good credit, and a good credit score.

Lastly, your guarantor cannot be financially linked to you. They cannot currently be a guarantor on a loan for you, or be a current co-signer on a loan with you. In addition, being financially linked also means if you have joint accounts together.

So while a partner or spouse can be your guarantor, if you have a few joint credit cards or other accounts together, it could be an issue in them being approved as a guarantor.

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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from 0 to 10

Representative Example


36 months

£158.57 p/m

Total Repayable

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.