How Guarantor Loans have changed and why you could consider one

You ve probably heard lots about Guarantor Loans in the last few years, particularly since Amigo Loans started advertising on TV and radio in 2012. Their popularity stems from the fact that even if you have some sort of historical credit problem you will be considered for an unsecured loan. High street banks and building societies have become notorious for rejecting all but the most prime of prime borrowers. On the other hand a guarantor loan, where you provide someone to guarantee your borrowing and repayments, can give you access to the unsecured credit you need. In the early days there were just a couple of lenders who would only lend up to £3000 and only if the guarantor was a homeowner. This made the product very niche. It was only after the 2008 banking crisis that interest really began to grow both from potential borrowers and lenders. We witnessed the growth in the number of lenders and this triggered proper competition. Maximum loan values started to grow and the the criteri


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