Apply now
  1. Home
  2. How it works
  3. Loan guides
  4. Guarantor loans

Guarantor loans explained

If you need a loan but you have a less than perfect credit history, you may want to think about a guarantor when taking out a loan. However, if this is not something you feel comfortable with, there are some types of loans that don’t require a guarantor, which you can find in our loan guide.

What is a guarantor?

A guarantor is a person who agrees to make the required repayments towards someone else's debt should they find themselves unable to do so. Usually, a person will have to be employed to qualify as a guarantor, and often they are a close friend or family member of the borrower. Say, for example, you took out a loan for £400 and had a guarantor but then lost your job and found yourself unable to make your loan repayments. Your guarantor would then be responsible for making the payments instead of you as they would have signed an agreement to do this.

What is a no guarantor loan?

A no guarantor loan is a loan that does not require you to have a guarantor. This means that no other person is responsible for making your repayments if you find yourself in difficulty. This is useful if you do not think that any of your friends or family would fit the necessary criteria to be a guarantor, or if a guarantor is not an option you want to consider.

Pros and cons of loans with no guarantor

A loan without a guarantor means that you can get the credit you need without asking favours from other people and you can remain in control of your own finances. This type of loan often charges higher interest rates because the lender is taking more of a risk that they might not get their money back.

You don’t need a guarantor to take out a Morses Club loan, we offer cash loans between £100 and £400 to new customers, apply online and see if you’ve been initially approved in minutes.

Apply now

Existing customers can borrow up to £1500 subject to approval.

Customers love Morses Club

Morses Club
5/5 Trustpilot review 5/5 stars 5 stars definitely Yes 5 stars would recommend this company. I’ve had a few loans with this company & never A probl... 5/5 Trustpilot review 5/5 stars My agent gives first class service… My agent gives first class service she’s there for me when you need to know anything about your acc... 5/5 Trustpilot review 5/5 stars Good money easy repayments Excellent… Good money easy repayments Excellent team of staff many thanks 5/5 Trustpilot review 5/5 stars fantastic company fantastic company 5/5 Trustpilot review 5/5 stars Was hesitant about using this service… Was hesitant about using this service at first but after a consultation with a very knowledgeable... 5/5 Trustpilot review 5/5 stars Very good service and good agents Very good service and good agents 5/5 Trustpilot review 5/5 stars Loan Agent lovely and simple process no messing about 5/5 Trustpilot review 5/5 stars Letter So friendly,always listen if any concerns and work with you if in difficult in payments. Never let m... 5/5 Trustpilot review 5/5 stars I have been a customer for years and… I have been a customer for years and have always had excellent customer satisfaction with no complai... 5/5 Trustpilot review 5/5 stars Great loan company There are a great company would recommend them to anyone. 5/5 Trustpilot review 5/5 stars Excellent! Excellent! Friendly, helpful, in every way 5/5 Trustpilot review 5/5 stars nice And helpful The company is very good and easy to talk to about anything to do with loan and the customer service... 5/5 Trustpilot review 5/5 stars Very help staff Very help staff 5/5 Trustpilot review 5/5 stars Get help from them very friendly Get help from them very friendly 5/5 Trustpilot review 5/5 stars My agent is polite My agent is polite , helpful and a pleasure to know, Morses club is a great company
Rated 4.5 out of 5 based on 1930 reviews. See some of the reviews here. Powered by trustpilot