What is a non-guarantor loan?

A non-guarantor loan is a loan that doesn’t require another person with a better credit rating, perhaps a family member or friend, to co-sign or guarantee the repayment of the loan.

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repayable over
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Representative APR 49.9%

Representative example: Amount of credit: for months. Interest rate: 41.2% pa (fixed). scheduled monthly payments of . Total amount payable: . Representative 49.9% APR.
Representative example: Amount of credit: for months. Interest rate: 41.2% pa (fixed). scheduled monthly payments of . Total amount payable: . Representative 49.9% APR.


If you don’t want to take out a guarantor loan, you could still get accepted for a loan without a guarantor with 118 118 Money, even if your credit rating is less than perfect.

To guarantor or not to guarantor?

That is the question! Whether to take out a guarantor loan or a no guarantor loan is ultimately dependent on your individual circumstances. If you have poor credit and have been rejected for credit by your bank, then looking into guarantor or non-guarantor loans could be an option for you.

If you’re happy to ask a family member or friend to be a guarantor for you, then a guarantor loan might be the right choice - if the guarantor has a better credit rating than yourself, you might be able to get a better interest rate and terms as you’re effectively at a lower risk of not paying the loan back each month.

However, if you feel uncomfortable asking somebody close to you to co-sign your loan agreement, you could still apply and get accepted for a loan without a guarantor at 118 118 Money.

We understand that it can be difficult to get a loan from your bank which is why we look beyond your credit score if it’s less than perfect, and pride ourselves on trying to help out those that struggle to get credit.

Should I apply for a loan without a guarantor?

Before applying for any form of loan or credit, it’s important to do your research beforehand. Whether you need the money for an urgent car repair, to consolidate debt, a vet/medical bill or a planned expense such as a family holiday or home renovation, you should take the time to fully understand your financial situation and ask yourself:

  • Do I really need a loan?
  • How much do I need to borrow?
  • How much can I afford to repay each month?
  • What are the terms of the loan?

If you need a hand in answering these questions, try out our loan calculator and budget planner to help give you a better idea of your financial circumstances and affordability.

Our friendly team are on hand 24/7 to answer any of your questions about our loans.

It should be remembered that repaying borrowing over a longer term may increase overall interest charges, so if you are consolidating and extending the term of your borrowing, consider this.

Applying for a no guarantor loan

Before applying for a loan with 118 118 Money, try our Quick Check. Our Quick Check will give you an indication of how likely you are to receive a loan from us without affecting your credit score. Once you find out your eligibility, simply decide to apply to receive an instant decision on your application.

If you can fully demonstrate that you can commit to paying the monthly repayments and feel comfortable with our APR and terms, then you can apply for a no guarantor loan today. You can rest assured that there are no hidden fees or upfront costs with our no guarantor loans, unlike some other lenders.

You’ll need to be between 18 and 70 years old, have a net income of at least £700 per month and hold a current UK bank account.

If accepted, when will I receive the funds?

We aim to accept applications as soon as possible and deposit the funds into your bank account in under 24 hours. Providing your application goes as smoothly as possible, you could receive your no guarantor loan within this time frame.

How much can I borrow?

At 118 118 Money, we offer no guarantor loans from £1,000 to £5,000 to be repaid over 12, 18, 24, 30 or 36 months. The loan amount and how long you’ll repay will depend on your application and financial situation.

Representative 49.9% APR.