A guarantor loan is a loan that allows people with a bad credit history (and we mean REALLY bad) to get a loan when every other bank, building society and lender has turned you down.

It means that if you have been really naughty and racked up a few debts such as CCJs, defaults and have a history of missed payments on your credit card, then don’t panic. A guarantor loan allows you to obtain a loan of up to £8000 and you can borrow it over 5 years if you wish as this will help to keep the repayments down.

Your guarantor (this is the person who is going to vouch for you and say what a thoroughly upstanding individual you are!) needs to be 21 or over and own their own house (well, a mortgage is obviously ok) and have a fairly decent credit history. If you can find someone like this then it doesn’t matter how bad your credit history is, you can still get a guarantor loan if your guarantor meets the criteria above.

Sound easy? Well, it is so apply online today!