Alternatives to GuarantorMyLoan

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Lender Ratings & Verdict

GuarantorMyLoan scores 4.5 out of 5 based on 230 reviews on TrustPilot. This score puts GuarantorMyLoan slightly lower down the rating spectrum than the typical guarantor loan lender.

GuarantorMyLoan vs Other Lenders

We've chosen to show the key differences against the "typical" or "average" guarantor lender:


  • The same APR% regardless of loan size and loan period which could be an advantage if you need a smaller loan for a shorter period.
  • Full online account management is available unlike some other lenders.
  • Offer a 1 month cash back if you successfully make your first 12 payments on time and in full.


  • There are 5 lenders with a lower APR% available dependent on loan value and duration.
  • The maximum loan size of £10,000 is lower than many.
  • Your guarantor must be a homeowner.
  • Average customer rating is marginally lower.

Compare GuarantorMyLoans to other Guarantor Loans

GuarantorMyLoan's representative APR is 48.9%, but we have lenders who offer guarantor loans starting at 29.9%. As a broker with access to multiple lenders we may be able to find you loans like GuarantorMyLoan's at a lower rate. This calculator uses our representative APR is 39.9% to help you estimate monthly repayments.

Estimated Repayment

Monthly Payment:
Total Repayable:
Representative APR:
39.9 %

Your actual APR will depend on: your loan amount, the lender you choose, if your guarantor owns their home, etc.

Less than perfect credit accepted

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Representative Example

Borrow £3,000 for 36 months. Representative 39.9% APR fixed. Monthly payment £144.16. Annual interest rate 34.05% fixed. Interest payable £2189.76. Total repayable £5,189.76.

About GuarantorMyLoan

GuarantorMyLoan started in 2014. They are actually a peer-to-peer lender meaning that the money they lend to you is from individuals who lend it to them. But this different funding arrangement isn't something you need to be concerned about. They are now well established and garnering reasonably good reviews from existing borrowers.

  • Loans from £1,000 to £10,000
  • Repay over 1 to 5 years
  • Representative APR 48.9% (fixed)

GuarantorMyLoans' Representative Example

Borrow £3,000 for 36 months. Representative 48.9% APR fixed. Monthly payment £145.17. Annual interest rate 40.48% fixed. Interest payable £2,226.12. Total repayable £5,226.12.


GuarantorMyLoan FAQs


Does GuarantorMyLoan need my guarantor to own their home?


Yes. So, if you think your guarantor is likely to be a non-homeowner then when you apply simply specify "non homeowner" against "probable guarantor" and we'll find those lenders who can help you. We have more information about non homeowner guarantors.


Does GuarantorMyLoan charge a variable interest rate?


No, GuarantorMyLoan's interest rate is fixed for the duration of the loan, which can be up to five years. This is good to know because it means you can budget with confidence. Even if general interest rates rise you won't suffer from any increase in you monthly repayments.


What is GuarantorMyLoan's APR%?


The APR is fixed at 48.9% regardless of the amount you borrow or the length of time you borrow it for. GuarantorMyLoan's rate is a little higher than some other lenders. We work with some lenders who vary the APR so that it is higher for smaller amounts and lower for large amount. So, it could be that for smaller loan amounts (say £1,000 or £2,000) GuarantorMyLoans is a reasonable option. Conversely on larger loans (over £7,500) we could have lenders that offer a lower APR. The lowest APR from any of our lenders in 29.9% for loans over £10,000. If this is of interest then apply here.


How do I repay GuarantorMyLoan?


Repayments are set up using a direct debit and paid on a monthly basis. As a backup a continuous payment authority (CPA) is set up that would be used if your direct debit failed. The amount you repay will be specified by GuarantorMyLoan before you sign any agreement. While you can estimate your repayments using our calculator the GuarantorMyLoan APR is 48.9% rather than our representative 39.9% so be careful when looking at affordability. If your monthly payment fails then Buddy will always get in touch to help resolve the problem.


What if I can't repay GuarantorMyLoan?


As with debt of any kind the first thing to do, if you are beginning to struggle with payments, is to contact GuarantorMyLoan. They will work with you to work out a new payment solution that is affordable. You do need to keep in mind though that you have signed an agreement with GuarantorMyLoan. There is an £11.50 fee for each missed payment. If an alternative payment solution cannot be found or if they cannot contact you then they will contact your guarantor to help settle your account.


How will being a guarantor for a GuarantorMyLoan affect me?


You will be credit checked before any documents are signed as GuarantorMyLoan need to know you are creditworthy. But once the agreement is signed and the borrower starts to make their monthly repayments you should hear nothing from them. However, if the borrower is struggling to make payments and then fails to keep in touch with GuarantorMyLoan or defaults then you will be needed to step in. If you fail to help bring the loan up to date then this will be recorded on your credit file too.


Can my GuarantorMyLoan debt be paid off early?


Yes, GuarantorMyLoan will allow you to pay off your outstanding balance without you incurring any fees. We presume that you may make overpayments on a similar basis even if this does not clear your entire balance. However, there is no explicit information about this on their website. So, if you should suddenly be able to pay off a chunk of your loan then that will save you further interest costs and reduce the overall cost of your loan. We'd always recommend doing this if you can afford it.


How fast can GuarantorMyLoan approve and payout my loan?


GuarantorMyLoan aim to payout your loan the same day your loan application is accepted. The time it takes for your loan acceptance will depend on what if any documentation is required and if your guarantor is accepted. Once your loan is approved the money is transferred to your guarantor's account who then passes it to you. Money is paid via your guarantor as part of anti-fraud processes.


What's the best way for me to apply to GuarantorMyLoan?


Well, GuarantorMyLoan are not the only lender in town. In fact there are numerous UK guarantor lenders. While they are not yet part of our panel our free enquiry service can tell which of the many lenders we work with could lend to you in principle - and many of these other lenders can offer lower APRs and larger amounts than GuarantorMyLoan. If you want to apply specifically to them please apply direct, but if you'd rather maximise your chances of a guarantor loan then use our enquiry service - no fees, and exactly the same deals as going direct!


Who can be my guarantor for a GuarantorMyLoan loan?


Typically you need to find someone who knows you well enough for them to trust you - this is form of "trust-based" lending. So with this in mind your ideal guarantor is likely to be: Parents, Brothers & Sisters - Aunts & Uncles - Sons & Daughters - Grandparents - Boyfriend or Girlfriend - Work Colleagues & Friends. Typically lenders like GuarantorMyLoan are not prepared to accept guarantors who are already financially linked to the borrower. For example if you have a spouse and own assets together (e.g. a house) or indeed have joint debts. Lenders may also reject guarantors if they have joint costs with you (e.g. you live together and share the payment of joint bills)..

How to Find GuarantorMyLoan

Office Address: 4th Floor, 25-27 Surrey Street, Norwich, NR1 3NX

Office Hours

Mon - Fri: 09.00 - 18.00

Sat: 09.00 - 13.00

Company Information

Company Registration is a trading style of Match the Cash Ltd, Acre House, 11-15 William Road, London, NW1 3ER. Company registration number 08667447.

FCA Registration

Match the Cash Ltd is authorised and regulated by the Financial Conduct Authority with firm reference number 718844.

ICO Data Protection Registration

Match the Cash is registered with Information Commissioner, registration number ZA055459.

Important Guarantor My Loan Links

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