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No guarantor loans

Compare loans that don’t ask for a guarantor 

  • See which loans you're eligible for
  • Searching won't harm your credit score
  • Compare leading loan providers

 

Representative 32.3% APR

Compare loans from over 40 lenders, right across the market

We do the heavy lifting, so you don't have to. We work with a wide range of leading providers to help you borrow the money you need.

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What is a no-guarantor loan?

If you’ve had debt problems in the past and you’ve got a bad credit score sometimes it can be difficult to get a loan unless you have a guarantor. With a guarantor loan, the guarantor - usually a friend or family member with a better credit rating than you - agrees to be responsible for the debt in the event you can’t pay. 

In contrast, mainstream unsecured or personal loans and secured loans don’t require a guarantor – so effectively these would all be classed as non-guarantor loans. But 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 rates. 

MoneySuperMarket is a credit broker – this means we’ll show you products offered by lenders. You must be 18 or over and a UK resident.

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Can I get a non-guarantor loan with bad credit?

If you have a low credit score it can be difficult to get a loan without a guarantor. But there could be suitable options available.

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Loans for bad credit

There are loans for bad credit, for those who have struggled with debt in the past and have a low credit rating. But they don’t require you to have a guarantor. Your choice is likely to be limited as there are fewer providers in this market, and the interest rates will be high.

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Secured loans

With a secured loan you’ll need to put up a valuable asset – usually your home or car – as security to get the loan. This can make a loan more affordable as the interest rates will typically be lower. But this is more risky. If you fail to make the repayments the lender could seize your asset. 

What are the pros and cons of a loan without a guarantor?

Getting a loan without a guarantor – either secured or unsecured – can be a good way to ease some financial pressure, perhaps to pay for an emergency purchase or to consolidate more expensive credit card debts. But there are pros and cons - and if you have bad credit it may be better to have a guarantor on your loan - so think carefully before you apply. The pros and cons of a non-guarantor loan include:

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    Advantages:

    • Don't have to involve another person - usually a family member – in the loan and risk them having to pay your debt and damaging their credit rating
    • Guarantor loan could damage family relationships if it goes wrong
    • More choice of loan products
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    Disadvantages:

    • Lower chance of acceptance 
    • 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  
    • Less choice of loans if you have poor credit

How can I improve my chances of being approved for a no-guarantor loan?

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Get your credit file

The first step to boosting your chances of being accepted for a loan is to get hold of your credit file and score. Our free credit monitor service gives you both – plus hints and tips on what you’re doing well and how to grow your score.

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Check for errors

Check your credit file to make sure everything is correct. Sometimes errors can appear on a file – which could impact your ability to get a loan. If something is amiss contact the credit provider or credit reference agency.

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Work on your score

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. Find out more about improving your score and increase your chances of getting a loan.

Is a loan without a guarantor right for me?

Whether or not a non-guarantor loan is right for you will depend on your financial circumstances. Taking on new debt is a big commitment and if you’ve had payment problems in the past it’s important to tread carefully.

Be confident you can afford the loan to avoid making your situation worse and further harming your credit score:

  • Think about what you need the loan for. If it is essential make sure you can afford the monthly repayments. Our loan calculator can show you how much you’d pay for your loan at different interest rates and terms. How you structure your loan could make it more affordable

  • Look at the rules attached to the loan, such as any extra fees and charges. Many loans apply charges if you want to repay the loan early

  • Comparing loans with us won’t harm your credit score. You can see what deals and rates you might be eligible for and make an informed choice

 

 

 

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We’re here to help find the right loan for you, so we’ll tell you which rates you could get.

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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 good credit score to be accepted for a loan. 

With a secured loan you’ll have to put up a valuable asset you own – usually your home or car – as security. But often you can get a secured 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.

 

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. 

 

The interest rates you’re offered are generally likely to be higher on a loan without a guarantor, compared to a guarantor loan, if you’ve got bad credit. 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 of 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 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.

MoneySuperMarket gives you lots of clever ways to save a lot, by doing very little.

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But you might have other questions. Do we provide access to all the companies operating in a given market? Do we have commercial relationships or ownership ties that might make us feature one company above another?

We commit to providing you with clear and informative answers on all points such as this, so we have gathered the relevant information on this page.