Lenders Compared: Site Traffic Rankings & More (Data Updated for Jan 2018)

Best Guarantor Loans for Bad Credit | Compare Guarantor Loan Lenders

Best Guarantor Loans for Bad Credit. Compare Guarantor Loan Lenders
Best Guarantor Loans for Bad Credit Online…

Sample Listing:
Brand & Launch Year | Alexa Rank (UK, Global)
– Minimum Age for Guarantors (H = Homeowners & T = Tenants)
– Opening Hours (Application Times are Noted. These Occasionally Differ for Existing Customers)
– Terms (Repayment Options in Months) | Sums (Available to Borrow. Doesn’t Differ Whether New or Returning)
– The Charge of a 1 and 2 Year £1000 Loan Marked as 1 & 2
*Any Supporting Notes.

List of Guarantor Loan Lenders 2018 Ranked by Web Traffic

1) Amigo Loans (2012) (FLM Loans/2005) | #10,550
Amigo Loans
– 18+ (H&T)
– Mon/Thu (9am-7pm), Fri (9am-6pm), Sat (10am-1pm)
– 12-60 | £500-£10,000
– £236.72 (1) & £483.68 (2)

2) Bamboo Loans (2014) | #43,795
Bamboo Loans
– 21+ (H&T)
– Mon/Fri (8am-8pm), Sat (9am-2pm)
– 12-60 | £1000-£8000
– £235.72 (1) & £481.50 (2)
*Existing times differ as Mon/Thu (8am-8.30pm), Fri/Sat (9am-5pm). Personal loan option.

3) TrustTwo (2014) | #93,324
TrustTwo Loans
– 21+ (H&T)
– Mon/Fri (9am-5pm), Sat (9am-4pm)
– 12-60 | £500-£10,000
– £210.92 (1) & £428.72 (2) | £236.96 (1) & £484.16 (2)
*Homeowner examples first.

4) George Banco (2013) | #94,867
George Banco Loans
– 21+ (H&T)
– Mon/Thu (9am-7pm), Fri (9am-4.30pm), Sat (9am-3pm)
– 12-60 | £1000-£7500
– £236.12 (1) & £482.24 (2)
*Existing times differ as Fri (9am-5.30pm), Sat (9am-1pm). Personal loan option.

5) Buddy Loans (2014) | #104,895
Buddy Loans
– 18+ (H&T)
– Mon/Thu (9am-7pm), Fri (9am-4.30pm), Sat (10am-2pm)
– 12-60 | £1000-£7500
– £238.49 (1) & £485.47 (2)

6) 1Plus1 Loans (2013) | #107,263
1Plus1 Loans
– 18+ (H) & 21+ (T)
– Mon/Fri (9am-6pm)
– 12-60 | £500-£5000
– £233 (1) & £470 (2)

No Alexa UK Ranking (Sorted by Global Rank)

7) UK Credit (2014) (GLO/2010) | #2,888,202
UK Credit Loans
– 21+ (H&T)
– Mon/Fri (8am-8pm), Sat (9am-1pm)
– 12-60 | £1000-£10,000
– £228.32 (1) & £465.68 (2) | £317.24 (1) & £658.40 (2)
*Homeowner examples first. Max £6000 with tenant backing.

8) Guarantor My Loan (2014) | #3,529,826
Guarantor My Loan Loans
– 21+ (H)
– Mon/Fri (9am-6pm), Sat (9am-1pm)
– 12-60 | £1000-£10,000
– £129.81 (1) & £413.35 (2) | £232.52 (1) | £474.80 (2)
*Cashback discount examples first. Peer-to-peer platform.

9) TFS Loans (2003) | #8,225,889
TFS Loans
– 18+ (H)
– Mon/Thu (9am-7pm), Fri (9am-5pm)
– 12-60 | £1000-£15,000
– £317.36 (1) & £658.64 (2)
*Tenant applicants capped at £8000.

10) LendFair (2013) | #9,493,971
LendFair Loans
– 20/25+ (H) & 20/25+ (T)
– Mon/Fri (9am-5pm)
– 12-60 | £500-£10,000
– £148.88 (1) & £298.16 (2) | £228.68 (1) & £466.40 (2)
*2 products. Minimum borrower age is 21+ and no CCJs for the low rate package.

11) Juo Loans (2017) | #11,970,552
Juo Loans
– 25+ (H&T)
– Mon/Fri (8am-8pm), Sat (9am-5pm), Sun (10am-4pm)
– 12-36 | £1000-£3000
– £239.32 (1) & £484.26 (2)
*Personal loan option.

12) JL Money (2004) | #13,054,149
JL Money Loans
– 18+ (H&T)
– Mon/Fri (9.30am-5.30pm)
– 3, 6, 12 | £100-£2000
– £900 (1)
*Guarantors required for £500+.

13) UK Trust Loans (2013) | #14,483,695
UK Trust Loans
– 18+ (H&T)
– Mon/Fri (NS)
– 12-60 | £500-£7500
– £236.72 (1) & £483.68 (2)
*Opening hours not shared.

*Alexa’s web traffic rankings help to measure market share. Just 6 of the lenders achieved a UK ranking. For the others we have sorted by global ranks.
*Broker fees have historically been common in this sector. These are typically charged by lenders when an affiliated partner has connected you. The prices displayed today assume direct visits.
*Closures have become increasingly common. Some of the more recent ones have included Consollo, Glo, Hero and The Quick Cash Club. Masa and Suco were secondary lending brands, but each are now managed by a broker (Cobain Digital Ltd) and so they haven’t been included in the listings.
*Payouts are made to the bank account of guarantors once the deal is completed.
*Price comparisons were sampled across 1 and 2 years. Going for that extra year would be advised for anyone living on a tight budget. For a £1000 loan this would help to lower the monthly repayment to around £60. You could even spread out the balance over 3. Whilst 5 years is the norm, this term is typically only available on sizeable sums.
*The traffic data was last updated on January 5th, 2018.

Cheapest Guarantor Loans (Charge + Daily Rate to 3DP)

Homeowner Backing: £1000 for 1 Year
1) GuarantorMyLoan (£129.81 | 0.036%)
2) LendFair (£148.88 | 0.041%)
3) TrustTwo (£210.92 | 0.058%)

Tenant Backing: £1000 for 1 Year
1) LendFair (£148.88 | 0.041%)
2) 1Plus1 (£233 | 0.064%)
3) BambooLoans (£235.72 | 0.065%)

Homeowner Backing: £1000 for 2 Years
1) LendFair (£298.16 | 0.041%)
2) GuarantorMyLoan (£413.35 | 0.057%)
3) TrustTwo (£428.72 | 0.059%)

Tenant Backing: £1000 for 2 Years
1) LendFair (£298.16 | 0.041%)
2) 1Plus1 (£470 | 0.064%)
3) BambooLoans (£481.50 | 0.066%)

Pricing Notes:
The Guarantor My Loan deal above (in the homeowner areas) is the full cost once cashback has been earned with their standard charges being £232.52 (1) and £474.80 (2). The saving assumes that every payment has been made on time. LendFair’s best rates are shown. Otherwise would be £228.68 (1) and £466.40 (2).


The guarantor loans sector has enjoyed tremendous growth since 2012 that was identified by a Google Trends search. The market leader started out in 2005 and so it did take time for this booming industry to take shape (TFS arrived earlier but outside of this space). This may be a relatively modern type of product in the UK, but the history of suretyship can be traced back to a Mesopotamian tablet written at around 2750 BC. This concept functions where someone will assume responsibility for a debt if the borrower defaults. This layer of protection enables the lender to target borrowers with very poor credit histories who most companies wouldn’t take a chance on. This isn’t an issue here.

The reason of course being that the credit scoring is directed instead at the person who is willing to support the applicant and they will need to have a clean credit profile. This subprime niche has been booming for some time, but it has been interesting to see the market supply shrinking with a number of lenders having gone out of business. These were listed in the notes section above. The reason for this looks to generally stem around the limited consumer demand and the dominance of the market leader (Amigo Loans) who has 250,000+ customers. This brand often seen on TV was introduced in 2012 as a rebrand of FLM who had been trading online since 2005.

They were simply first to market and over the years have made continual improvements to their service that has pretty much made it tricky for anyone to compete. As has been demonstrated today, they are beaten on cost, but in most other areas they really shine and with TV ad exposure it is tricky for rivals to close up that gap. The team behind Everyday Loans have tried with TrustTwo and Provident had a go with Glo that has now closed. UK Credit had been the nearest competitor in recent years. Our comparison data today however shows that Bamboo, TrustTwo, George Banco and Buddy are in fact the closest on the traffic front.

More Info: Guarantor Loans Same Day Payout?

Consumer demand is high for very quick loan providers in this niche. The good news is that most companies can achieve this for you that certainly wasn’t the case in the past. Historically, you had to wait for signed forms to go through the post, but web innovations through e-sign now deliver same day turnarounds. This assumes that applicants and guarantors complete the process together. When it comes to weekend funding, Juo is the only way to get a Sunday payout. Most firms that open on Saturdays tend to close at 1pm or 2pm. TrustTwo does extend to 4pm. For anyone hoping on a quick payout, just remember to pay attention to any lender’s hours of business.

More Info: Non Homeowner Guarantor Loans

Barely half of all families in Britain own their own home today and so it has been important to see the introduction of tenant guarantor loans (non homeowner required). Whilst just a few firms started covering this option, it has quickly spread. In fact, 11 of the 13 featured brands now accept tenant guarantors. Finding someone who would be willing to stand in was always tricky when homeowners were required. Most people we assumed ended up asking their parents to step in. Now that tenants can do this, friends and work colleagues may be able to help you out. Here is a breakdown of who accepts what with qualifying starting ages.

T (18) | H (18) = Amigo, Buddy, JL Money, UK Trust
T (20/25) | H (20/25) = LendFair
T (21) | H (18) = 1Plus1
T (21) | H (21) = Bamboo, George Banco, TrustTwo, UK Credit
T (25) | H (25) = Juo
H (18) = TFS
H (21) = Guarantor My Loan

Pros and Cons

(+) High acceptance rates on sizeable loan contracts is a key attraction of this service type. With scoring pushed on to the person standing in, this allows the lender to take a chance on the applicant defaulting and passing that debt on. This enables them to target those with CCJs and defaults, as well as self-employment. Amigo for instance even accepts people discharged from bankruptcy. Credit checks are processed, but this is merely for identity checks and to make sure that you aren’t currently bankrupt (as noted, discharged should be fine). All that’s important is that the proposed repayments can be met with ease. Sizeable sums are also up for grabs that extends to £10,000.

Whilst TFS headlines £15,000, they cap tenants at £8000. It of course helps to spread out a chunky balance and you can do this here thanks to the industry norm term spread of 12 to 60 months. However, the longest terms are usually set for the biggest sums. For £1000 you’ll tend to be offered 3 years max. Competitive interest is a further benefit with APRs floating in the late 40s. This means for £1k per year you’d typically pay around £230 interest. Subprime instalment firms often ask for closer to £1000 that highlights the value. Finally, we must praise the quality of the sites in this niche. Vibrant designs, logins and SSL are the norm (unlike with doorstep and logbook).

(-) There isn’t much that goes against these companies. The obvious need to find a backing is the major obstacle. You get a feel for this from studying Google keyword data where there are many variations of searches for such things as “No Guarantor Loans Bad Credit”. Understandably, it won’t be easy to ask someone to stick their neck out for you. However, it is now easier to find someone through the addition of tenant backings. Whoever you seek to stand in, just show them that you can meet the repayments with ease and show them exactly what you need the money for. A minor final limitation would be that the weekend hours are rather restricted.

The Best Guarantor Loan Alternatives?

Logbook Loan: This is the best alternative for those that have very poor credit scores. Assuming that you do own a vehicle with some value then acceptance is however pretty much guaranteed. This is actually the only subprime niche where you’ll see no credit checks promoted by many competing lenders. The main limitation with heading down this route is that the costs are very expensive and the contracts are secured and so repossession will happen if you run into payment difficulties. It doesn’t make much sense why the companies do charge such excessive interest considering the security held on the contracts.

Personal Loan: Bad credit personal loan products mainly differ through no required guarantors. This should make it more tricky to get approved. There are however select providers like Everyday and Likely that do specifically target those in the red. Then there are those targeting fairer scores such as AvantCredit, On Stride etc. On the flipside we have the banks and other specialist providers who are unfortunately out of reach with troubled finances. When we checked Sainsbury’s Bank just now they were offering a remarkable 2.7% APR. Just remember that prime rates aren’t out of reach in the distant future. For now, at least lenders like Amigo do report to CRAs that will help to get that score back on track.

Last Updated: January 5th, 2018.