Guarantor loans are loans that are available to people who have suffered from bad credit. The purpose of a guarantor loan is to allow an individual with a less than perfect credit history to take out a loan when they would have been refused elsewhere. The beauty of a guarantor loan is that almost anyone who is known to you can be your gurantor. So even if you don’t have a relative who could help then don’t worry as you can ask a friend of a colleague, even a neighbour can assist you in taking out a guarantor loan.

It is important that whoever you nominate to be the guarantor, must always be aware of their responsibilities. If the applicant cannot repay the guarantor loan for any reason then the guarantor will be the one who has to repay the outstanding loan so it is not such a simple decision to make.

You can apply for a loan here.