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Loans Without a Guarantor

If approved, your £100 to £5,000 can be sent within minutes, in a few clicks

With over 50 direct lenders in our network to compare, we find you the best loan offer available!

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I would like to borrow...

...and pay it back in 12 months

Representative Example: Amount of credit: £1,000 for 12 months at £107.53 per month. Total amount repayable of £1,290.36. Interest: £290.36. Interest rate: 49.9% p.a. Fixed*. 49.9% APR Representative. Rates between 9.9% APR and 1,295% APR.

We're a fully regulated and authorised credit broker and not a lender.

We work with over 50 lenders to help you find the best loan possible.
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A loan without a guarantor is simply a normal loan that you are fully liable for. You do not have the security of a guarantor in the event of getting behind on your payments. Any loan that you apply for where a guarantor is not required falls under loans without a guarantor.

This includes personal loans, mortgages, car loans, and payday loans. Some of these loans require a fair to good credit rating to be approved, with some exceptions for borrowers with bad credit depending on the lender.

Can I Get a Loan With Bad Credit and No Guarantor?

Looking for a loan is a lot like shopping for a car. You need to shop around to find the best deal. Having bad credit can make that process a lot more difficult, and can dry up many of your options. There are no absolutes in lending, meaning it is possible to get a bad credit loan without a guarantor, but they could come at a cost. The downsides could be a small loan amount with a high interest rate. These include payday loans for bad credit. Some banks will also approve you if you have the means to pay the loan back.

Can I Get a Loan Without a Credit Check?

Unfortunately, you cannot get a loan without a credit check. However, if you have little to no credit or have a bad credit history, you may be looking to get a loan that considers other financial factors.

Some banks and/or lenders such as payday loan companies will consider your income and ability to pay back the loan over your credit rating. Such loans are commonly referred to as bad credit loans.

These types of loans generally come with the downsides of smaller loan amounts with higher interest rates.

Are Loans Without Guarantor More Expensive Than a Guaranteed Loan?

The cost of any loan is determined by your creditworthiness. Therefore the answer to this question is inconclusive. However, guaranteed loans are mostly given to those who cannot be approved on their own without a guarantor. It is possible that they will be given a higher interest rate than someone with a no guarantor loan.

If you have a low credit score, the cost of your loan expense is going to be higher regardless of whether you have a guarantor or not.

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What Amount Can I Apply for Without a Guarantor?

The amount you can apply for varies greatly based on your creditworthiness and your ability to pay back a loan. There are several lenders out there, and because of this, there is a wide range of terms that you may be able to get approved for.

If you have no guarantor and your credit isn’t great, the maximum you’ll be able to be approved for is around £5000, with a decent income. With a higher score, there are some lenders that may approve you on up to £10,000.

What Happens If You Can't Repay a No Guarantor Loan?

The outcome of defaulting on a no guarantor loan versus a guaranteed loan is where the liability lies. When you fail to make the payments and default on a guaranteed loan, the lender will turn to your guarantor to pay back the debt on your behalf.

If you default on a no guarantor loan, the liability still lies entirely on you. And it can be sent to collections, or the lender can sue you to try and get their money back. Either way, defaulting on your loans can lead to your credit rating decreasing dramatically.

What Happens If I'm a Guarantor?

The process is similar to applying for a loan for yourself. You’ll have to fill out a guarantor application form with the lender. As well as having your credit checked and other financial factors looked at.

If approved, you will be liable to make the payments on the loan if the original borrower defaults or is unable to make payments. This can be a risky move and should only be considered if you can afford to take over their debt as if it were your own.

Can I Get a Loan If I'm a Guarantor?

Being the guarantor on someone else's loan does not disqualify you from getting other loans yourself. Keep in mind that you may need to pay back the loan that you are a guarantor for.

You should weigh the risk of paying back their loan if it defaults and your ability to pay for your own loan as well.

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How Do I Withdraw From Being a Guarantor?

When you take on a loan as a guarantor, you should think of it as your own debt. You cannot withdraw from a loan without paying off the loan or declaring bankruptcy as the primary borrower, and it is the same for the guarantor.

There are certain circumstances where you can be removed as a guarantor. When the guaranteed loan is a mortgage or auto loan, the primary borrower may refinance under just their name. Usually when they have enough equity or better income. This will remove you as a guarantor for the original loan.

Final Thoughts...

No guarantor loans are good for people of all credit backgrounds. However, the terms and APR vary dramatically depending on your creditworthiness. Because of the number of lenders today, people with bad credit can find options to get approved for a no guarantor loan, sometimes without a credit check.

Keep in mind that bad credit loans can be expensive, with high APR and fees. If you aren’t able to get approved for the loan you need with no guarantor, consider looking into guaranteed loans, where a qualified guarantor can help.


Looking for loans without a guarantor?

We can connect you to a lender in minutes, even if you have bad credit.

Apply Now