Looking for guarantor loans like Amigo loans? Then look no further. We can help people search for the loan that they need regardless of whether you have bad credit history or not.
Guarantor loans help people find the money that they need, when they need it, by using a reliable friend of family member to guarantee the payments (if you fail to pay).
We work as an introducer which means that we can search over 50+ lenders within milliseconds, by completing just ONE application form. With access to the UK’s largest panel of lenders, we can search lenders to help you find the funds that you need whether you have a guarantor or not.
To help you with your search for a guarantor loan, we have answered some of our commonly asked questions below.
Our customers frequently ask us;
Guarantor loans are designed to help people who have either a poor credit score or little to no credit history. They work by allowing you to borrow the money that you need, providing that someone is willing to be a guarantor for you if you don’t pay back the loan.
You are still the borrower which means that meeting the repayments on time and in full, can help rebuild your credit score increasing your chances of being approved for a loan without a guarantor in the future.
Who can be a guarantor for my loan?
Anyone can be your guarantor as long as they are happy to do so for you and providing that they have a good credit history.
Some lenders may also require the guarantor to be a homeowner as this provides an extra layer of security for the lender.
What happens if I don’t pay back my loan?
If you fail to repay the loan then this will be marked on your credit file, damaging your credit score further. The lender will also contact your guarantor for the payments.
If the repayments still aren’t met, then this will be marked against your guarantor’s credit history affecting their credit score. This can also lead to legal action being taken against you and your guarantor for the full payment.
If you are struggling with your repayments, you should always contact your lender before they are due to discuss your circumstances. The lenders will try their best to help you during difficult times.
What credit checks do guarantor loans do?
Guarantor lenders will conduct a credit check on you, this is more to ensure that you are financially stable enough to repay the loan. Either a full credit check or ‘quotation quote’ will also be carried out on your guarantor, to ensure that they are able to repay the loan for you if you fail to repay.
The loan won’t, however, show on your guarantor’s credit file, so their credit file won’t adversely be impacted providing that the repayments are met in full and on time.
If you have previously been rejected for a loan, then a guarantor loan may be the best option available to you. However, if you are struggling to find a guarantor, or simply don’t want to ask someone to do this for you, then there are other alternatives that you could consider;
Credit Builder credit cards – Credit builder cards are great for people who are struggling to be accepted for a loan. They are built for people with bad credit with the aim to help rebuild your credit score. The downside is, they usually start with a small credit limit, typically around £250. So, if you’re in need of access to larger sum, this may not help you in short term.
Doorstep loans – Doorstep loans are also designed for people with poorer credit histories. This is where a representative of the firm will come to your home to give you the loan and attend your address on a weekly basis at an agreed time to collect the payments. Again, these types of loans are usually lower amounts but can go up to £1,000.00.
Fast Loans no guarantor – Fast loans no guarantor are loans for people with good or bad credit histories. These are also known as instant loans, payday loans and short-term loans. The loans range from £100 to £5,000 but can be an expensive option for people with bad credit, as you may be charged a higher interest rate.
Guarantor loans can help you borrow a higher loan amount and at a cheaper interest rate to some of the alternatives listed above.
We’ve highlighted some key information about some of the UK’s leading guarantor lenders for illustrative purposes, showing the type of loans that we could help you find along with providing the different loan amounts offered and the representative APR’s.
Amigo Loans were founded in 2005 with the aim to help people find a loan when they have been rejected elsewhere.
They have helped over 300,000 people build their credit reports which translate in their reviews. Amigo Loans reviews are outstanding and have received a score of 9.2 out of 10 (July 2019) on Trust Pilot review platform.
Who owns Amigo Loans?
Amigo Loans is a trading name of Amigo Loans LTD. Their companies house number is 04841153
They are regulated by the FCA (Financial Conduct Authority) under FCA license number 708284.
They are also registered with the ICO (Information Commission Office) Z8738456
What loans do Amigo Loans offer?
Amigo Loans offer guarantor loans up to £10,000, repaying the loans back over 12-60 month period with a representative APR of 49.9%.
How do I contact Amigo Loans?
You can contact Amigo Loans via the following:
Amigo Loans contact number: 01202 629 200
Amigo Loans login: Via their website – www.amigoloans.co.uk/existing-customer
How long does it take for Amigo Loans to payout?
According to their website, they aim to have all loans paid within 24 hours.
Can you get a loan without a guarantor through Amigo Loans?
No, Amigo Loans is a guarantor lender, so all customers must have a guarantor to be accepted. If you are looking for a no- guarantor loan, try My Quick Loan and you might be matched with a non-guarantor lender.
.Bamboo Loans are a UK lender who started operating in 2005 according to Companies House.
Bamboo Loans are a trading name of Bamboo Limited; their Companies House number is 05629336.
They are FCA regulated – 720565 and are also registered with the ICO – number Z1380902
What loans do Bamboo Loans offer?
Bamboo Loans offer 3 loan products:
A Bamboo unsecured loan – which is a personal loan between £1,000 and £5,000 and you don’t need a guarantor.
A Bamboo Guarantor Loan – You can also get a guarantor loan with Bamboo from £1,000 to £8,000.
Bamboo Top-up loans – Top-up loans are for existing customers looking to top up the loan that they already have in place with Bamboo.
Bamboo Loans do not do payday loans.
What is the APR on Bamboo Loans?
According to their website, their rates start from 26.9% APR to a maximum of 89.9%. Loan terms from 12 to 60 months.
Does Bamboo do bad credit loans?
Yes, even if you have a CCJ, Bamboo will still consider your loan. However, for customers with very bad credit will you probably need a guarantor.
What are Bamboo Loans reviews?
According to the review platform Trust Pilot, Bamboo Loans have 5* excellent reviews.
Out of the 11,000 reviews, 91% rated them 5* (July 2019), which is an excellent score which makes Bamboo Loans and extremely trusted lender.
How do I contact Bamboo Loans?
You can contact Bamboo Loan via:
Bamboo Loans contact number: 0330 159 6011
Bamboo Email Address: email@example.com
Bamboo mailing address: 1st Floor, Grenville House, Nelson Gate, Southampton, SO15 1GX
Bamboo Loans login: https://www.bambooloans.com/users/sign_in
With George Banco loans you can borrow up to £15,000 repaying the loan between 1-5 years with a representative APR of 49.7%. George Banco was founded at a later date in the UK and began trading in 2013 as a guarantor lender but have since become one of the leading guarantor lenders in the UK. They are fully FCA registered and have a trustworthy Trust Pilot score of 9.5 out of 10.
George Banco positions themselves as a guarantor lender you can trust, and openly share their companies 10 Customer Commitments which is their business values and how they expect each customer to be treated
With buddy loans, you can borrow up to £10,000 repaying the loan between 1-5 years with a representative APR of 49.9%. Buddy loans were also founded in 2013 becoming one of the top guarantor lenders in the UK. They also have an impressive Trust Pilot score rating of 9.5 out of 10 and are fully regulated by the FCA.
Ready to apply? Simply head over to our application form page and we will search the panel of lenders to find you the best option available to your circumstances FREE OF CHARGE.