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BORROW WITHOUT A GUARANTOR
See which loans you’re eligible for
MoneySuperMarket is a credit broker not a lender. You must be 18 or over and a UK resident.
Representative 29.9% APR
We do the heavy lifting, so you don't have to. We work with a wide range of leading providers to help you borrow what you need.
It’s easy to compare loans with MoneySuperMarket and you’ll know your chance of being approved when you apply.
We’ll show you all the key information upfront so you can choose the best deal for you.
We only show deals you’re likely to be accepted for so you’re less likely to be rejected.
Once you’ve decided, you can click through to the loan provider and apply in minutes
What is a no-guarantor loan?
A no-guarantor loan in the UK is a personal loan that doesn’t require a friend or family member with a better credit rating to act as a guarantor. This is where someone agrees to take on the debt in the event you can’t pay.
Typically, you’ll need a good credit rating – or a significant asset, such as your home or car to put up as security – to be accepted for these types of loans on standard terms and interest rates.
If you have a low credit score it can be difficult to get a loan without a guarantor. This is because lenders will see you as more risky and more likely to default on your debt. But there could be options available. For example:
Loans for bad credit can be an option for those who have struggled with debt in the past and have a low credit rating. Your choice is likely to be limited as there are fewer providers and the interest rates will be high.
Secured loans require you to put up a valuable asset – usually your home or car – as security to get the loan. Interest rates could be lower, but if you fail to make the repayments the lender could seize your asset.
Getting a loan without a guarantor can be a good way to pay for an emergency purchase or consolidate more expensive credit card debts. But there are pros and cons, so think carefully before you apply. These include:
Don't have to involve another person in the loan and risk them having to pay your debt
A wider choice of loan products
More competitive interest rates (APR)
Without a guarantor you could lower your chance of acceptance for a loan
You’ll be liable for the debt if you can’t repay. If you have a secured loan this could mean your home or car could be repossessed
Interest rates are likely to be higher with less choice of loans if you have poor credit
There are a number of things you can do to boost your chance of being approved for a loan without a guarantor:
Get hold of your credit file and score. Our free credit monitor service gives you both – plus hints and valuable tips on what you’re doing well and how to improve your credit rating.
Check for any mistakes on your credit file – errors can impact your ability to get a loan. If something is incorrect on your credit report contact the credit provider or credit reference agency.
If you’ve got a low credit score there are lots of things you can do – some of them quick and simple – to boost your rating. Our helpful guide can tell you more about improving your score.
"Not needing a guarantor to take out a loan is often a good sign for a few reasons. It means you are seen as financially competent enough by loan providers not to need a fallback option, and it also means you don’t need to get a family member or close friend involved in the borrowing process.
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We’re here to help you find the right no guarantor loan for your needs, so we’ll tell you which deals you’re most likely to get.
Tell us a little about yourself, your finances and the loan you want.
We’ll search through loans from a wide range of lenders on the market.
You’ll be able to sort loans by the overall cost and the likelihood you’ll be accepted.
If you’re taking out a loan without a guarantor there will be the option to have an unsecured or secured loan. Unsecured loans, often referred to as personal loans, do not require you to put an asset up as security. Generally, this means you’ll need a fair to excellent credit score to be accepted for a loan.
With a secured loan you’ll have to put down a valuable asset you own – usually your home – as security. This is why secured loans are sometimes referred to as homeowner loans. It can mean you can get a loan with a less than perfect credit history and score. But it means if you fall into arrears on the loan the lender could seize your asset, so your home is at risk.
Most loans will allow you to repay early – but often there will be early repayment charges and these can be high. If you think you may be able to clear the debt before the end of the loan term, check the terms and conditions at the outset to avoid any nasty surprises later.
No, a payday loan is just a type of short-term loan. Payday loans are usually unsecured and typically for a small value – such as £50 or £100, and usually taken out for around 30 days. They are often accessible for people with a poor credit rating – but the interest rates can be extremely high.
If you have bad credit and a low credit score, the interest rates you’re likely to be offered will typically be higher on a loan without a guarantor, compared to a guarantor loan. That’s why if you’re struggling to find a loan, taking a guarantor loan can make it more accessible and affordable.
It is likely to be difficult to get a personal loan with a competitive interest rate if you’ve got bad credit. Specialist lenders are available offering loans to those with a less than perfect credit history and a low rating. The interest rates will be much higher than those on standard loans and the loan amounts are likely to be lower.
If you apply for your loan online the process can be very quick. In some cases the lender may want to do some extra checks on you before agreeing to the loan. But once you’ve been accepted the funds should be in your account within days. In some cases the money could arrive the next day.
It’s unlikely that you’ll be able to get a personal loan without a credit check. All regulated lenders will want to have the confidence you can repay the loan before approving any application, and a credit check is a key part of this.
How much you’ll be able to borrow without a guarantor will depend on your personal financial situation, including how much you earn, your outgoings, your credit score and the lender’s own criteria. The better your credit rating and the higher your affordability, the more likely you are to get a loan.
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