Looking for guaranteed loans? You can apply with Personal Loans Now for loans of up to £25,000* with and without a guarantor, even if you have bad credit. As a responsible company, we cannot offer you guaranteed approval, but we will do our utmost to ensure you have the loan you need, fast. With an instant decision and same day payout if approved, we won’t leave you waiting for your money.

Find out everything you need to know about guaranteed loans and how they work.

Guaranteed Personal Loans

Guaranteed loans, or as they are sometimes known, guaranteed personal loans, are often a great solution for funding a significant purchase. Examples of these purchases include a car or home improvements.  These loans are often unsecured loans. This means that unlike a secured loan, the creditor has no claim on your financial assets should you fail to maintain unsecured loan payments. It is partially because of this that guaranteed loans online are not necessarily the cheapest credit available for you.

Guaranteed loans - Personal loans now

In the UK, people are searching online for two different types of “Guaranteed loans”:

  1. Loans with guaranteed approval
  2. Loans with a guarantor to guarantee the loan

What do each of these mean? Watch the video below for a quick explanation.

Can I trust a lender offering guaranteed loans?

This is a very good question, and the answer is that it depends: what do they mean by guaranteed loans? As we have explained, there are two main types of guaranteed loans.

  1. Loans with a guaranteed approval. These loans are illegal in the UK. Every lender must perform adequate credit and affordability checks before issuing a loan. This is to ensure that their loan will help the customer, and not make their situation worse through unaffordable credit. If a lender promises you a loan with ‘guaranteed approval’, either they are operating illegally or making promises they can’t keep. Either way, this isn’t a lender you should trust.
  2. Loans with a guarantor. It can be easier to be approved for guarantor loans. This is because the lender has a ‘backup plan’ for getting their money back should you fail to repay. These loans are legal in the UK, but you should still make sure to choose a trustworthy lender. Look out for the FCA authorisation number on their site, and cross-check with the FCA’s own website to ensure it’s real. It’s also a good idea to Google for reviews. This will give you an idea of other people’s experiences with that lender.

Personal Loans Now work together with Quint Group Limited, an FCA-authorised broker, to match you up with the right direct lender for your needs. All the direct lenders on panel are FCA-authorised and responsible. So, you can be sure you are in safe hands.

Guaranteed loans - Personal loans now

Can I get guaranteed loans for bad credit?

Specialised guaranteed personal loans for poor credit aim to raise your credit awareness and help you maintain fiscal responsibility as you repay the unsecured loan.  These unsecured loans are essentially called “guaranteed loans no guarantor”. The lender has no rights on your assets and there is no guarantor to guarantee your loan. From a lender’s perspective, it is the riskiest form of online credit.

It is crucial for people with poor credit to understand that FCA-authorised lenders must perform a credit check. Any advertisement of no-credit-check guaranteed approval is to some extent illegal. We work hard to ensure that only trusted direct lenders will get your application. Therefore, bad credit loans guaranteed approval is not a valid option. Lenders can never guarantee approval of a loan, especially where there is a problematic credit file.

Guaranteed loans - personal loans now

Guaranteed loans UK

The other form of guaranteed loans in the UK is a guarantor loan, which is when the loan is, to some extent, guaranteed by a guarantor or against borrower assets. However, even in this case, direct lenders cannot offer guaranteed loans with no credit check. In many instances, the lender will even check the guarantor’s credit file as well as the borrower’s to increase the likelihood of receiving their money back in full, with interest.

This form of guaranteed personal loans is available for people on benefits. The combination of bad credit and being on benefits is a fairly challenging one when you’re looking for credit. Lenders would need a way to guarantee the credit they provide, so they will perform a complete affordability assessment of the guarantor and the borrower. People on benefits can get credit in the UK; they should just look for the right form of credit for their situation.

Secured guaranteed loans

Secured loans can take a wide variety of assets as collateral securing the lender’s investment, making them into guaranteed loans. In many cases, this additional level of security to the lender will grant the borrower better rates and more flexibility in the repayment terms of their personal loan.

Different Types of Guaranteed Loans

Can I get personal loans with guaranteed approval in the UK?

One meaning of the term guaranteed loans is a loan with guaranteed approval, no matter what. People often search for guaranteed approval loans online, as these are supposedly easy and quick to obtain. Or, you may see an advert for car loans with guaranteed approval, for instance. However, according to the UK law, all lenders must perform a credit check prior to approval. Guaranteed approval loans with no credit check are illegal, and we recommend that you avoid any lender claiming to offer them.

Do guaranteed loans for bad credit in the UK exist?

People with bad credit are usually more likely to be declined for a loan, and are therefore often tempted by a guaranteed approval personal loan for bad credit. However, as we have said, all lenders must perform a credit check. It is therefore impossible to receive bad credit loans with guaranteed approval online in the UK, but many direct lenders do specialise in bad credit personal loans and can guarantee a higher approval rate. At Personal Loans Now, we will do our best to ensure you find the right loan, no matter what your credit score may be.

Are guaranteed guarantor loans available in the UK?

A guarantor loan is where someone else, the ‘guarantor’, takes on the responsibility of repaying the loan should the borrower not do so. Understandably, it is often difficult to find a guarantor so many people search specifically for guaranteed loans with no guarantor. Often, it is people with bad credit who are struggling to obtain a loan, and guaranteed loans for bad credit with no guarantor are not always easy to get. At Personal Loans Now, we will never ask for a guarantor, so if you are looking for guaranteed loans with no guarantor for bad credit in the UK, we are happy to help!

Can I get a guaranteed unsecured personal loan in the UK?

A secured loan means that you sign over something (usually a car or house) for the lender to take should you not repay your loan. This usually makes loans cheaper. Despite this, many people prefer to find guaranteed unsecured personal loans, saving them the worry of losing their possessions. It can be harder to find guaranteed unsecured personal loans for bad credit. However, there are lenders who specialise in this type of loan and should be able to offer you a decent rate. Remember though that unsecured personal loans with guaranteed approval are illegal in the UK.

Here at Personal Loans Now, we can help you find guaranteed loans for bad credit no fee. Yes, we charge no fee for our service. Some of the direct lenders on our panel are specialised in guaranteed loans bad credit and guaranteed loans for people on benefits in the UK.  You can apply for a secured (with a guarantor) or unsecured (no guarantor) loan online. In both cases, a credit check is a mandatory step to get you a guaranteed instant loan today.

Guaranteed loans today

You can get a guaranteed loan today if approved. Some direct lenders are offering instant decisions. Guaranteed loans with an instant decision utilise advanced technology to make the borrower’s life a tad easier. They can provide much faster cash directly into the applicant’s bank account upon approval.

To learn more about guarantor loans today in the UK, take a look at this infographic where we’ve gathered interesting facts and statistics, based on reports by the FCA and Citizen’s Advice.

Guaranteed loans - Personal loans now

How much can I get with a guaranteed loan?

This depends on the lender, but in general, borrowing with a guarantor allows you to borrow higher sums as there is less risk involved for the lender. At Personal Loans Now, you can apply for loans starting from £500 up to £25,000* both with and without a guarantor.

How fast are guaranteed loans?

At Personal Loans Now, they’re very fast. In fact, they’re almost instant! Applying for a loan with a guarantor can often take longer, as there is usually a lot more paperwork to go through and double the amount of checks. However, at Personal Loans Now you will receive a decision within just 90 seconds, and although as a responsible lender we cannot guarantee you a loan, we do offer a high approval rate. If you are approved, the money will be sent to your bank account that same day.

That’s pretty fast!

Breaking the guaranteed loan search myth

We hope that by now you understand the different types of guaranteed loans available for you in the UK, and the relationship between unsecured loans, your credit file, direct lenders and the overall cost of your credit. To help you with your quest to find the best personal loan rates for you, we put together a list of common terms people use in Google together with a brief explanation of the correspondent credit product.

Search Terms
Explanation

loans bad credit no guarantor

Guaranteed loans - Personal loans now

Some lenders specialise in no-guarantor loans for people with bad credit. Generally speaking, a loan without a guarantee or a guarantor is regarded as an unsecured loan. The lender will instead perform a thorough affordability assessment and credit check to determine if the loan is suitable for you.

bad credit loans no guarantor

unsecured loans for poor credit online

guaranteed loans for bad credit

Guaranteed loans - Personal loans now

Unlike no guarantor loans, guaranteed approval is not a legal product in the UK. Lenders are not allowed to market guaranteed loans, especially not to people with bad credit or people on benefits who will, in many cases, be vulnerable customers. It is legal to guarantee a loan against assets or with a guarantor, but you should be very suspicious about lenders offering loans with guaranteed approval.

bad credit loans guaranteed approval

guaranteed loans no guarantor

guaranteed loans no credit check

Guaranteed loans - Personal loans now

No credit check is a no go! Guaranteed loans with no credit check contain two problems that responsible lenders should be avoiding. The first one is to promise guaranteed loans, and the second one is to offer a loan with no credit check. Be careful. Regardless of your credit file situation, these loans are not legal in the UK.

Instant decision no credit check loans

High acceptance loans with no credit check

Where can I apply for a guaranteed loan online?

Applying online for a guaranteed loan is easy, and we charge no fee. However, don’t just pick any lender! You need to ensure that the application form is secured and that the provider of the service states its contact details. These must include a real UK address and phone numbers. If the site claims to offer guaranteed loans with no credit check, you need to be careful as no credit check loans are not legal in the UK.

Guaranteed loans for people on benefits are also available in the UK. It is important to make sure that you share with the lenders all the details about your current situation. Don’t try to hide the fact that you have bad credit, historical issues on your credit file or that you are on social benefits. Lending is a business of trust. The lender can only give you a loan suitable for you if you provide the real details. Providing the correct details will make the whole process faster. So, with many lenders, you will be able to get your money on the same day.

Guaranteed Loans from Personal Loans Now

Personal Loans Now works with Quint, an FCA-authorised credit broker, to help you find the right loan for your needs. We have access to a wide range of lenders offering several types of loans, so you can apply for guarantor loans or non guarantor loans between £500 and £25,000, regardless of your credit score. It won’t take long; you will receive a loan decision within 90 seconds, and if you’re approved, the money will be sent to your bank account that day. Apply now for the ultimate personal loan experience.

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