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Expertly compared by David Allan

Products Updated May 16, 2019

Guarantor Loans For Non Homeowners

If you’re looking for a guarantor loan and your chosen guarantor isn’t a homeowner then you’ll need to apply with a lender who accepts tenants as guarantors. This isn’t a problem, simply view our tenant guarantor lenders below and click through to their website to apply for your loan direct.

3 providers expertly compared:

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All credit types
Rated 5.0/ 5

Trust Two Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£500 - £10,000

Representative APR
43.8%%

Loan Term
1 - 5 years

Loan Type
Guarantor Loan

Status
Homeowners & Tenants

With Trust Two you could borrow up to £10,000, in your own name, by asking a relative or friend to guarantee that you'll repay it. Apply online and, once you and your Guarantor are approved, on average you'll have the money within 3 days.

Representative Example

3 providers expertly compared:

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Poor Credit
Rated 5/ 5

Uk Credit Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£1,000 - £10,000

Representative APR
39.9%

Loan Term
1 - 5 years

Loan Type
Guarantor Loan

Status
Homeowners & Tenants

Trusted, simple guarantor loans from £1,000 to £10,000. With the help of a friend or relative to guarantee your loan UK Credit could get you the cash you need.

Representative Example

3 providers expertly compared:

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Poor Credit
Rated 5.0/ 5

Amigo Loans

Loan Amount
£5,000 - £10,000

Representative APR
39.9%

Loan Term
2 - 5 years

Loan Type
Guarantor Loan

Status
Homeowners & Tenants

Amigo guarantor loans are around a 30th of the APR of a payday loan and are regularly as one of the cheapest options for anyone borrowing £500-£10,000 with a low credit score, even if you are not a homeowner.

Representative Example

Before you apply for a loan with one of the lenders above ensure that you have a suitable guarantor in place who has agreed to act as the guarantor and understands the responsibilities. This will help speed up your application process and make the process easier when you come to apply.

A guide to non homeowner and tenant guarantor loans

Making an application for a non homeowner guarantor loan

We are often sent questions about what being a non homeowner and what it means when applying for a guarantor loan. So to help answer some of your questions we have created this small guide and Q&A to help.

What is the different between a homeowner guarantor and non homeowners like tenants?

When guarantor loans first started to become popular a few years back most lenders required that your chosen guarantor also owned their own home. The reasoning behind this was so that the lender had security and was deemed to be less risky. Nowadays however as the market has grown and developed many lenders will now accept tenants as guarantors. It is important to note that non homeowner loans are generally a bit more expensive and come with slightly higher rates of interest.

My guarantor is living with parents is this still acceptable?

If you chosen guarantor has a clean credit rating and meets all the other lenders criteria then the fact your guarantor lives at home with parents should not effect the lenders decision to accept your loan application. If you are in any doubt then we would suggest you discuss this with the lender before making a full application.

 

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