Buddy Loans are a guarantor loan lender aimed at people with no credit history or a poor credit history. The ability to pay back to the loan is the main criteria that Buddy Loans look for not what has happened in your past. This is why a guarantor (Buddy) can help you get the money that you require.
They have a 4.5/5 rating on Trust Pilot from over 3,000 reviews you can be confident pursuing your loan application with Buddy Loans.
Buddy Loans offer guarantor loans of £1,000 - £10,000 depending on your circumstances and that of your guarantor (Buddy). The repayment period is 1 – 5 years. Choosing Buddy loans can offer you better interest rates than a payday loan or a bad credit loan because you have a guarantor to help out if you can’t pay.
You will not be penalised if you want to repay all or part of the loan early so you can make extra payments whenever you want to reduce the overall loan amount without being charged a fee
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
If you want a loan between £1,000 and £10,000 then Buddy Loans can help, the application can take up to 24 hours with the different paperwork for the applicant and the guarantor but once approved, the money can be in the account of the guarantor within hours.
The guarantor can be anyone that you trust and that trusts you. They need to trust you to repay the loan and you need to trust them as the loan is deposited into their account. Typical guarantors are family members, close friends or work colleagues. It is not essential for the guarantor to be a homeowner, but for some loan values it will be.
Minimum period for repayment: 12 months | Maximum period for repayment: 60 months | Minimum APR 49.8% | Maximum APR 49.9%
Representative example: Amount of credit £3,250 for 36 months. Interest (fixed at 41.16%): £2,464.57. Total amount payable of £5,714.67. Representative 49.9% APR (Variable). 36 repayments of: £158.57.
There are no set up or administrative fees added to the loan as long as repayments are made, if you ever feel as if you are going to miss a payment get in touch with Buddy Loans as soon as possible to talk through your situation and see what they can do to help
Buddy Loans like to think of themselves as the UK’s friendliest guarantor loan provider so speak to them at ease about your needs and they will find a solution.
Buddy Loans are Authorised and regulated by the Financial Conduct Authority: FRN 718849. If you currently have a loan with them and need to contact them you can do so through;
Alexandra Court, Carrs Road, Cheadle, Cheshire, SK8 2JY