No Guarantor Loans in the UK

Are you looking for a loan without a guarantor? Then the Cashfloat Team is your next port of call. Our payday loans are no guarantor and unsecured. We do not ask you to secure your loan against any collateral or to co-sign with another person. You can borrow up to £1500, and if approved, we provide you with the cash into your bank account on the same day. For convenience, you repay your loan in automatic instalments between 3 month and 9 months.

A no guarantor loan is when a lender allows a person to borrow money without having any collateral or person to co-sign and secure the repayment. No guarantor loans are sometimes called unsecured loans and can be either for the short term or the long term. However, they are likely to be more expensive than guarantor loans as they pose a higher risk to the lender than borrowing with guarantor. There are many advantages to a loan without a guarantor, including:

• Quick – You may not have the time to wait for a guarantor. But with us, it usually takes minutes to apply, and you do not need to wait around for additional people to co-sign the loan.
• No paperwork – Avoid the hassle! Everything is completed online. You usually do not have to provide any personal signatures as it is anunsecured loan.
• Private – No exposing your financial troubles to family and friends. A no guarantor loan is a private borrowing arrangement between you and the lender only. No third party needs to be involved.

As a responsible lender, there are a few criteria which applicants must meet before applying to borrow money online from us. The applicant must:

1. Be a minimum of 18 years old
2. Hold a UK bank account
3. Be a UK resident
4. Have a steady source of income (salary, benefits, pension, etc.)

Did you know? You can take the fear out of credit checks by simply working on improving your credit rating. Cashfloat have some great advice on how to improve your credit score today.

Once you’ve received the money into your bank, you’ll have to make the first payment in the following month. Our customers repay their loan every month for up to 9 months, depending on how much they borrowed. The loan payments are made with Continuous Payment Authority where the customer gives permission for us to deduct monthly payments as agreed in the contract. At Cashfloat, we encourage all our customers to repay their loan as early as possible and save on interest – we will never charge you a penny for this service.

There are advantages and disadvantages for both loans with a guarantor and loans without a guarantor. In this section, we highlight the different aspects of the loans so you can make a more informed decision.

• Borrow higher amounts for longer – Firstly, by choosing to use a guarantor, your guarantor agrees to repay your personal loan if you default. One advantage of getting a guarantor to co-sign your loan is that your lender will usually lend you more money for a longer period as they are more confident that someone will repay the loan – either yourself or your guarantor. Since it can be hard to find someone to agree to sign on the guarantor loan, many people will seek for loans without a guarantor. These tend to be short term loans for smaller amounts and as mentioned, faster, simpler, and obviously without the agreement of a guarantor.


• Cheaper and lower APR – It’s often cheaper when someone else accepts responsibility for the repayments as there’s less risk involved for the lender. If you have bad credit, no guarantor lenders may still accept your application but with a higher APR. If your credit is very bad, you might be better off applying for low-interest guarantor loans. At Cashfloat, we do our best to provide fast loans for bad credit and for those with a good credit score, without requiring a guarantor. If we can’t help you, cheap guarantor loans are an alternative option.


• Faster payout – Naturally, the process of getting a guarantor loan takes longer as lenders will want to look into your proposed guarantor’s credit history, etc. The best guarantor lenders will be the ones that manage to carry out the process as swiftly as possible. To find the best direct lenders, you’ll need to compare guarantor lenders online and explore the features for each loan. If you’re only after a small amount, you can avoid the hassle of finding a guarantor by taking out non guarantor loans instead. Cashfloat can offer loans today if approved.