Buddy Loans Guarantor Loans

Buddy Loans is a trading name of Advancis Limited, a private company that was incorporated in 2012.
Compare the latest interest rates and other important information on guarantor loans from Buddy Loans in the table below.

Buddy Loans Guarantor Loans FAQ

Who is Buddy Loans?

Buddy Loans is a Cheshire-based UK direct lender offering a range of loans based on the guarantor model. This involves a family member or friend acting as a guarantor for a loan, which adds security for the lender. Buddy Loans is registered with the Financial Conduct Authority and operates online.

What kinds of loans are available through Buddy Loans?

All of Buddy Loans’ products are guarantor loans, which require a close friend or family member of the borrower to commit to repaying a debt if the borrower is unable. However, within the remit of guarantor loans, Buddy Loans offer car loans, wedding loans, debt consolidation loans, business loans and general bad credit loans. In other words, you can borrow money with a guarantor loan and spend the cash on a range of different things.

With a Buddy Loans guarantor loan, how much can I borrow and for how long?

Buddy Loans lends up to around £10,000 over a maximum period of around 60 months. However, the terms of your loan will depend on financial and affordability checks carried out on yourself and your guarantor.

How much does a Buddy Loans guarantor loan cost?

Lenders must advertise their interest rate and charges payable over a year, presented as a percentage of the amount borrowed. This is called the APR, or annual percentage rate, and is an effective way to compare loan products. However, if an APR is stated as being ‘variable’, this means that it could move up or down, while ‘representative’ means that the rate only has to have been offered to 51 per cent of applicants to apply. You could potentially find yourself paying a higher percentage rate than this.

Who can be a guarantor?

Guarantors are usually people that know you very well, as in a family member or a close friend. They must feel that they trust you to be able to pay the loan off and should also be willing and able to cover the repayments themselves if you find that you are struggling to meet the payment schedule.

What will happen to my credit score if I take out a Buddy Loans guarantor loan?

If you keep up your repayments as agreed at the outset of the loan, you could improve your credit score whilst you have a guarantor loan.

Does being a guarantor affect a person’s credit record

It can, yes. If you agree to be a guarantor and you fail to make payments on behalf of the borrower if they are struggling, you may find that your credit record is negatively impacted. This is why it is important that guarantors are sure that they can afford to cover the cost of the loan before agreeing to act as guarantor.

Services offered by this provider may change over time. Always check Ts&Cs.

Compare Buddy Loans Guarantor Loans

Buddy Guarantor Loan
Representative APR
49.9% APR

Available Amounts
£1,000 to £10,000

Min / Max Terms
1 to 5 years

Guarantor Type
Homeowner or Tenant
Guarantor Criteria

Must be aged 18-75

Must be a UK resident

Must not be on an active bankruptcy, IVA or equivalent

Guarantor does not need to own a home

Borrower Criteria

Must be aged 18-75

Must be a UK resident

Must have a good credit history
See Deal More info
Representative Example: Representative APR 49.9%. Based on a loan of £3,250 over 36 months at an interest of 41.16% p.a. (fixed). Monthly repayments of £158.57. Total amount payable £5,714.67. Maximum APR: 49.9%.

Compare similar products from other providers

Guarantor My Loan

Applicant and guarantor must both be homeowners
Representative APR
29% APR

Available Amounts
£1,000 to £10,000

Min / Max Terms
1 to 5 years

Guarantor Type
Homeowner
Guarantor Criteria

Must be aged 25-71

Must be a UK resident

Must have good credit

Must be a homeowner

Borrower Criteria

Must be aged 25-71

Must be a UK resident

Must have reasonable credit

Must be a homeowner
See Deal More info
Representative Example: Representative APR 29.0%. Based on a loan of £4,000 over 36 months at an interest of 8.74% p.a. (fixed). Monthly repayments of £160.61. Total amount payable £5,781.96. This includes £1,176.98 interest & £604.98 in fees. Maximum APR: 69%.
TrustTwo Guarantor Loan

Guarantor must be a homeowner
Representative APR
37.9% APR

Available Amounts
£1,000 to £15,000

Min / Max Terms
1 to 5 years

Guarantor Type
Homeowner
Guarantor Criteria

Homeowners only

Must be aged 25 - 74

Must have a good credit history

Spouses or partners will not be accepted

Borrower Criteria

Must be aged 21 or over

Must be employed and have a minimum income of £1,000 pcm (not furloughed)

Must not be declared bankrupt or in IVA or debt management plan
See Deal More info
Representative Example: Representative APR 37.9%. Based on a loan of £5,000 over 36 months at an interest of 32.57% p.a. (fixed). Monthly repayments of £219.36. Total amount payable £7,896.85. Maximum APR: 49.9%.
TrustTwo Guarantor Loan
Representative APR
49.74% APR

Available Amounts
£1,000 to £15,000

Min / Max Terms
1 to 5 years

Guarantor Type
Tenant or living with parent
Guarantor Criteria

Guarantor can be tenant or living with parents

Must be aged 25 - 74

Must have a good credit history

Spouses or partners will not be accepted

Borrower Criteria

Must be aged 21 or over

Must be employed and have a minimum income after tax of £1,000 pcm (not furloughed)

Must not be declared bankrupt or in IVA or debt management plan
See Deal More info
Representative Example: Representative APR 49.74%. Based on a loan of £5,000 over 36 months at an interest of 41.06% p.a. (fixed). Monthly repayments of £243.65. Total amount payable £8,771.52. Maximum APR: 49.9%.

Award-winning comparisons you can trust

It's always nice to know you're on the right track. Over the years, as we have striven to improve the services we provide to our clients and users, we have been pleased to receive recognition for our efforts from both industry and consumer bodies.

Featured brands

See all guarantor loans providers

Buddy Loans Guarantor Loans