Guarantor Loans Online

Good:
Accepts people with poor credit histories and they can help you improve your credit history

Bad:
You need to find a suitable guarantor (see criteria in summary below) who will back your application

Verdict:
Most expensive guarantor lender on the market for large loans, have a shop around first as there are cheaper Guarantor lenders available - make sure your guarantor knows exactly what they're getting into

Guarantor Loans Online are offering a guarantor loan between £1,000 and £5,000. The loan is actually provided through a company called Central Trust Plc. A guarantor loan means you have to have somebody that will back your application and make the repayments if you are unable to make them.

Your guarantor must meet the following criteria: they must be a homeowner, must be between 25 and 72, they can't have shared borrowing with you previously, they must have a permanent income, can't be your partner or spouse living with you and they cannot ever have been declared bankrupt and they must never have had any CCJ's.

To apply, you must complete their online application form. Once you have done this, they will email your loan documents to you. You can then print these off. You will need to complete the blue application form and sign the blue credit agreement. Your guarantor needs to complete, sign and get witnessed the pink form. Then, send them back (or scan and email them back) to: UK Credit, Austin House, St Crispin's Road, Norwich, NR3 1PX. They will then review your application and inform you of their final decision.

Only apply for this loan if your guarantor knows 100% exactly what they are getting themselves into.