Trust Two Guarantor Loans

TrustTwo is a direct lender specialising in guarantor loans, aimed at people with poor credit histories who have trouble finding loans elsewhere. The brand TrustTwo is a trading name of Everyday Lending Limited, which is registered with the Financial Conduct Authority and based in Buckinghamshire.

Guarantor loans, such as those offered by TrustTwo, involve a borrower seeking the help of a trusted friend or family member who agrees to repay any outstanding loan if the borrower is unable to. This allows people with poorer credit to obtain a loan, with the guarantor acting as a security for the lender. As a result, using a guarantor can help people find larger loans over longer terms.

However, personal loans and secured loans, for example, may carry far lower interest rates than guarantor loans, so it makes sense to do some research before starting any application processes.

You apply online along with your guarantor. The lender will usually need to check some details and documents, to make sure you live in the UK and are over 18, for example. You will also need to provide evidence of how you can afford to repay the loan. You guarantor will also have to provide financial details and will have their credit record checked to assure the lender that they are able to meet any repayments that you miss.

Yes, although this might not mean that you pay less overall. However, debt consolidation is a popular reason for taking out guarantor loans, alongside covering the cost of large purchases like house renovations or even just helping out with the cost of day-to-day life. It’s vital to consider whether you can cover the cost of the loan over its entire term as borrowing can lead to further credit problems and debt in the long-run.

The maximum offered by TrustTwo loans is £10,000 over the course of 12-60 months. However, the actual amount you are offered will be linked to your individual financial situation as well as that of your guarantor. You will both be assessed with regards to whether you can afford the repayments and your guarantor may need to be credit checked to make sure they have not had problems making repayments in the past.

No. TrustTwo, along with most other guarantor loan providers, will consider applications from people with poor credit records, as guarantors provide some security against default for the lender. If you fail to make a repayment, your guarantor will stand in and make the payment on your behalf. As a result, your guarantor may be required to pass a credit check, although this isn’t always the case.