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What is a guarantor loan?

Find out more about guarantor loans and see how much you could borrow today.

A suitable guarantor includes someone who regularly pays their bills on time, has a regular income and can afford to make the loan repayments if the borrower cannot.

This could be your partner, spouse, family member, friend or colleague. Remember, if you don't pay an instalment your guarantor will have to. So it's a serious matter for them.

Guarantor Criteria

Aged between 21 & 72 at the start of the loan

Partner / spouse / friend / family member / someone you work with

UK resident (excludes Isle of Man and Channel Islands)

UK bank account

Valid UK debit card (Visa Debit / Visa Electron / Debit MasterCard)

Either a tenant or homeowner

Able to afford the monthly repayments

Not currently a customer or guarantor with Bamboo

Why choose a guarantor loan?

Guarantor loans can be ideal if you haven’t yet built up a credit history or you don’t have a great credit score. Perhaps you’ve already applied for a credit card or approached your bank about borrowing money but they weren’t able to help. Bamboo can also offer guarantor loans to people who have had a CCJ in the past. Once you have your guarantor loan and you’re making your repayments, this can help you build up a credit history or start to repair your credit score.

How much could I borrow?

You could borrow from £1,000 to £8,000, and with our guarantor loans the money could be in your bank account today, if we get you approved before 3pm.

Who can be my guarantor?

You can ask anyone who is 21 or over and has a regular income to guarantee your loan. For example, partner, spouse, family member, friend or colleague. A suitable guarantor is someone who regularly pays their bills on time, has a regular income and can afford to make the loan repayments if the borrower cannot.

How does a guarantor loan work?

Once you have chosen a suitable guarantor you can use our email template or speak to them to ask for their help. We will also be available on 0330 045 0491 if they have any queries. As soon as they have submitted their details we can make progress your application.

Been asked to be a guarantor?

If you’ve been asked to act as a guarantor, it can be a positive way to help a friend or relative borrow money, e.g. for a car, wedding or home improvements. Find out more about being a guarantor here.

How much would you like to borrow?

For how many months?

The rate you are offered will depend on your personal circumstances. A guarantor may be required.

Representative Example
On an assumed loan amount of £2,600.00 over 36 months. Rate of interest 41% per annum (fixed). Representative 49.7% APR. Total amount payable £4,557.89. 35 monthly repayments of £126.61 and a final payment of £126.54

Rates from 26.9% APR to a maximum of 69.9% APR. Loan terms from 12 to 60 months.