No Guarantor Loans

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We work with trusted brokers to give you access to a panel of leading lenders well placed to meet your needs.

With a no guarantor loan, you could borrow between £500 and £5,000 over a 24 – 60 month period. As the name suggests, no guarantor loans do not require a guarantor to secure the loan.

Simply click the “apply now” button below to fill in our online application. This application only takes a few minutes to complete. You will receive an instant decision and a loan offer where you can proceed. If successful, you can typically receive funds to your bank account within 24 hours or less.

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How Do No Guarantor Loans Work?

Unlike guarantor loans, with a no guarantor loan the borrower will be entirely financially responsible for the repayments. Therefore, if the borrower defaults on a no guarantor loan, responsibility of the repayments will not be passed to anyone else.

It’s vital that the borrower informs the lender when they are struggling to keep up with repayments, as the lender may then help to organise an alternative repayment plan.

Since the borrower is entirely responsible for the repayments on a no guarantor loan, the lender will often need security that the loan will be paid back. Borrowers can provide this security by having the following:

  • A good credit score
  • Owning a property 
  • A stable job with regular income
  • No history of CCJs IVAs or bankruptcy 
  • A good history with past borrowing

You can apply for a no guarantor loan by filling in our online application. Proper Finance will then compare from our list of leading lenders to find the best no guarantor loan option for you.


What Is the Eligibility Criteria for No Guarantor Loans?

The eligibility criteria for a no guarantor loan will vary between lenders. However, some of the main factors that many of our providers will require include the following:

  • Must be a UK Resident;
  • Must be over 18 years of age;
  • Must have a working debit account, email address & phone number;
  • Must be employed, earning at least £500 per month and able to afford monthly repayments;
  • Must have no history of bankruptcy, CCJs or IVAs.

To increase your chances of getting a no guarantor loan, you will need to have a good credit score. A no guarantor loan is a kind of unsecured loan, which means that the lender can rely on your creditworthiness without needing something to secure your loan against, like a home, a car, or a guarantor.

Your credit score does not have to be perfect in order to get a no guarantor loan from Proper Finance, however, as with most unsecured loans the better your credit score, the easier it will be to get your loan, guarantor-free.

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Can No Guarantor Loans Improve My Credit Score?

Yes, as will most means of borrowing, a no guarantor loan can help to improve your credit score. However, this is only the case if you keep up with all repayments until the loan is paid off. A loan can help to boost your credit score as it builds up a good borrowing history, and is evidence that you can manage and maintain monthly repayments.

Essentially, it makes you more trustworthy to both lenders and the Credit Referencing Agencies that calculate your credit score.

Whilst taking out a loan can help to improve your credit score, it’s also worth noting that applying for too many loans at a time can send the wrong message to potential lenders – suggesting that you may be too reliant on credit, and therefore a risk to lend to.


Why Apply for No Guarantor Loans With Proper Finance?

Proper Finance works with some of the top lenders in the country, all of which are in-keeping with FCA rules and regulations. Therefore, any loan you take out through Proper Finance will be safe, secure, and follow the rules set out by the relevant regulatory bodies.

There are no upfront fees with Proper Finance, our online application is free to complete and can be finished in a matter of minutes. The details you provide us with will also never be passed on to any third parties without your permission. If successful, you could also receive funding within 24 hours of completing the application.

We are dedicated to finding the best financial product to suit our borrowers needs. Through our comparison site, you can choose from over 50 different loan products, and compare rates from several competitive lenders.


How to Apply for No Guarantor Loans

Applying for a loan with Proper Finance is easy. Simply click the “apply now” button below and fill in your details. You will need the following information to hand when filling in our online application form:

  • Your name
  • Your date of birth
  • Your current address 
  • Contact details
  • How long you want the loan period to be
  • The amount you wish to apply for 

Our application is quick and simple, only taking a few minutes to complete. There are no upfront fees for making an application on our site.

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