Representative Example: You borrow £[loanAmount]
Monthly payment: £[monthlyPayment]
Interest and fees: £[intFee] Total to repay: £[totalPayment] 47.8% APR (fixed)*
We are “1 Plus 1 Loans” and we provide guarantor loans for people just like you.
We set up our business in 2013, when we saw that borrowing money at an affordable rate was becoming a seriously difficult job for those with bad credit ratings and those who needed it most.
That didn’t seem fair to us, so decided it was time that someone offered a loan that didn't rely purely on credit scores – just on whether customers could afford the repayments without any hardship or problems for the duration of the loan. That’s how 1 Plus 1 Loans was born and that's why we're a better kind of guarantor loan.
"The last thing we want is a customer with a loan who simply cannot afford the repayments"
Direct lender, not a broker
All applicants considered
We offer guarantor loans, at affordable rates for people like you.
To make absolutely sure that you can afford the repayments without a struggle, we follow a simple process before we grant any loan.
First of all, we’ll talk. We go through a verbal confirmation with all of our customers and guarantors to make sure that they understand their obligations during the life of the loan.
As a lender, we have links with banks and other financial institutions who can verify our customers income and expenditure for us. We mainly do this by using Open Banking. This can tell us if a loan repayment is affordable over the lifetime of the loan, just by checking your bank statements and without a bad credit score affecting our judgement.
We confirm that all essential bills are covered, and that there is enough surplus income left over to make the monthly repayments for the loan. We also like to make sure you’ll still be able to pay for any of those unexpected emergencies that can crop up in day to day life. Our team also use ONS (Office of National Statistics) data to make sure that everyone involved can meet the future expenditure set by current levels of inflation.
Most importantly, our team of experts work hard to make sure everything works for you, so we can pass your loan details to our pay out team. Most of our customers have the money in their account the same day they apply!
Guarantor loans that fit you.
We go through our checks because it’s hugely important to us to be responsible lenders and to be absolutely sure that all of our customers can afford to meet their repayments without any problems. It’s an approach that’s put us right at the forefront of providing great guarantor loans that work for the customer, the guarantor, and us your lender.
That’s why we always go the extra mile to ensure that our customers get the loan that’s exactly right for them. In fact, we go way beyond the requirements of our industry’s regulators to make sure that everyone is treated equally and fairly whether they have bad credit history or a good one.
More information about us
What does being a guarantor mean?
A guarantor is someone who will make payments on a loan if the borrower fails to pay.
If the borrower has not had credit before, they will have no credit history. This means that credit reference agencies will give them a low score, as they have no way of knowing if they will repay the loan or not. If people have failed to repay loans in the past, then credit reference agencies will naturally give them a very low score, with the resulting bad credit rating making it near impossible for them to get a loan.
This is where the guarantor comes in. The guarantor will know the borrower and know if they are likely to make the loan payments or not. No one is going to be a guarantor if they think the borrower is not going to make payments, which is why most of our borrowers’ guarantors are close family and friends.
Can I be a guarantor?
To meet our guarantor criteria, you need to...
If you do not feel completely sure that the borrower is going to make repayments, or you don't know the borrower well enough, DO NOT be a guarantor on their loan. Check out our handy decision tree tree to help you decide if being a guarantor is right for you.
Why should I be a guarantor?
There are many reasons why you might choose be a guarantor, here are some of them:-More guarantor information
Quick and thorough. Very helpful with clear explanations throughout, Hayley was lovely to deal with, knowledge and friendly.
The service was very and fast. The executive was very polite and helpful throughout the application process. This was my 2nd time with 1Plus1 Loans and had the same smooth experience as I had for the 1st time.
The young lady I spoke to Hayley was just nice and polite. She was very helpful and professional
Service good well explained on how it works girls that phoned me back were excellent Happy days
Service was very good . Clear instructions given and very helpful in getting across all relevant information .