TrustTwo is a new guarantor loan product from the team at Everyday Loans (owned by Secure Trust Bank Plc). It has replaced Duo that was packaged alongside the main product. This new brand is served on its own website at www.trusttwo.co.uk that was put together towards the end of 2014. The TrustTwo guarantor loans have 2 standout qualities that includes low pricing and the high available loan sums. They have replaced Duo in providing the cheapest sector rate at 39.9% APR. With sums, £7500 can be obtained although this is by applicants that can source a homeowner backing. Otherwise, with tenant backings you can access between £1000 and £5000.

The term range sits between 13 and 60 months, but you can settle early. The signup process is completed online and so you won’t have to send out documents to them. It is headlined that the payout should take around 3 working days. Users can take advantage of the login added at www.trusttwo.co.uk. Low cost is the key USP of this service. The minimum term is 13 months, but if you cleared after 12 on £1000 then you would pay just £195.88. Most similar firms charge around £230 to £240. Their customer support advisors are available from Monday to Friday (9am to 6pm) and on Saturdays (9am to 12pm).

Searching for a guarantor shouldn’t be difficult since they accept tenants. There is quite a high age requirement asked for though between 25 and 74 years old. It has been good to see this new company launch on its own domain. The navigation on their older site for Duo was always tricky. Other than offering the higher £7500 there has been no other major product update. You can now receive up to £12,500 at Everyday, but the process on that side still needs to be completed at a store and payout is by cheque. Fortunately, this hassle-free solution enables funding within just a few days without any such required visit.

Consollo is a direct lender within the guarantor loan space based in Sale (Cheshire). They launched at www.consollo.com back in July 2013. This brand is part of Stonemere Finance Ltd who have been operating since 2010. They started out lending through the payday firm (321Cash) and they also broker through the Cash Calf and Pay Me Early brands. The Consollo guarantor loans service has now become their central focus and this has been promoted a considerable amount over 2014. This product has been designed and marketed for consolidation, specifically for those caught up in the payday loan cycle. They head sums of £1000 to £5000 taken over between 12 and 60 months.

For a £1000 loan over a full year the charge would be set at £236.72. This is exactly the same price as in place at Amigo Loans. It is understandable that they would match what they offer, since they are the current market leader. Amigo are of course not one of the cheapest solutions around though. There is no login facility equipped to www.consollo.com although they do use SSL. The guarantor must be a homeowner aged between 21 and 75 and they must have a top credit score. Bad credit is fine so long as the applicant is in a viable position to meet the repayments.

They aim to send the payment out on the same day, but they state that it can take a few days and so it doesn’t look like they process transfers through the Faster Payments Service. There is a note that documents may be requested that could slow down the process. No contact times are listed, however the same times would likely be in place as at 321Cash. These times are set as Monday to Thursday (8am to 8pm) and Friday is (8am to 5.30pm). This service has good qualities, although there isn’t really a USP that differentiates them in what has become one of the UK’s most competitive and overcrowded sectors.

We have previously introduced CFO Lending and Payday First that are matched monthly loan products from the same owner. Today we are picking out CFO Loans that is their third offering in the guarantor sector. This product is available through www.cfoloans.co.uk that was initially registered in 2010, but an update was ran in 2014 that was when this service was unleashed. Their payment calculator and FAQ heads amounts of £1000 to £5000. There is a note that £500 is the starting sum on the homepage though and so you should be able access this smaller amount. Repayments are spread between the period of 12 and 60 months.

Early settlements can be made and should this be done then you pay interest to that point only. The cost of a £1000 loan over a full year would be priced at £236.70. Although no note surrounds the transfer, it is likely that they also impose a £15 fee as they do with their monthly brands. They offer good value, although they rank just outside the top 5 guarantor rates as seen within our comparison section. There is no login fitted to www.cfoloans.co.uk. There is no encryption used either, but I believe they have purchased this, yet they have not set it up fully.

The application must be backed by a UK homeowner with a good credit score and the age limit spans from 23 to 70. This department is listed as being open from Monday to Saturday from 8am to 7pm. At their other companies they trade from 8am/8pm (Mon/Fri) and 9am/1pm (Sat). With this in mind, you should expect them to be open for just a few hours on a Saturday. CFO Loans offer a speedy service that is completed online. Once a call has been made they will try to pay the money out on the same day. Failing this, they will do this on the next day.

Tandem Loans is Provident’s new guarantor loan project served through www.tandemloans.co.uk. This website was interestingly setup in late August 2013 and just a few days into September they followed on from this in setting up www.satsumaloans.co.uk. Satsuma is widely advertised across the web and they have received tons of attention from the media as well. Strangely, I couldn’t spot any Tandem Loans coverage/reviews, with there just being some minor references to the brand from some employees who have been working on the project. Although they have kept a low profile to date, I’m sure that this won’t be the case for too long.

This guarantor product has two features of interest here. This includes their acceptance of tenant guarantors and they also offer cash levels as high as £7000. The full range is £1000 to £7000 and the term span runs from 12 up to 60 months. To cover pricing, for a £1000 12 month loan the total charge would be £318.74. In comparison with other firms who don’t require homeowners, George Banco asks for £286.16 and UK Credit Ltd charges £317.12. So they are just slightly more expensive than UK Credit. There is a secure login feature at www.tandemloans.co.uk, but this allows you to complete your application only.

This is confirmed from spotting in their FAQ that for checking your balance or settling early you will have to phone them. The guarantor must have a good credit history and be aged between 18 and 70. If you are accepted at Tandem Loans then they will aim to get the cash to you in 24 hours. Their customer service team can be reached between Monday and Friday from 9am to 7pm and on Saturday from 9am to 1pm. It is good to see that they extend to Saturday, since many sector lenders close on this day. As well as this, that top £7000 sum helps to differentiate this service.

George Banco is the newest guarantor lender on the block, having launched a few months into the 2014 year at www.georgebanco.com. Getting straight to the product specs, between £1000 and £5000 is available between 12 and 60 months, although the maximum terms require large sums to be taken. On their loan calculator they head up a representative APR of 62%. £1000 over 12 months here would cost £286.16. This is more expensive than GuarantorUs at £216.21 and the market leader Amigo is for instance also cheaper at £236.72. They haven’t pitched a leading rate as they allow tenants to back the applications that adds risk.

This tenant must be aged at 25 or above and they must of course have a good credit score behind them. Just to add that if the person standing in for the application is a homeowner then no price reduction will be made. The George Banco guarantor loans can be managed through the equipped logins at www.georgebanco.com. This lender is open between Monday and Friday from 9am until 5.30pm. As I’m aware, they have spent a considerable amount of money on the technology side and in the process can provide fast decisions. They state that after approval the funds could be received within 48 hours.

It has been interesting to see the guarantor sector grow as it has done. In the previous post we made an introduction for LendFair who are yet another recent entry within this niche. There is now so much choice available across the market and yet the demand is still relatively small. The main feature of these George Banco loans is of course that homeowners are not required and they are more cheaper than UK Credit who also don’t need them. This lender has took on a membership with the CCTA and they have already started advertising considerably online and so they have started out well in this increasingly competitive sector.

LendFair is a direct guarantor lender based in Harlow that launched at www.lendfair.co.uk in late 2013. They offer between £500 and £5000 and have a wide range of repayment terms in place. This starts from just 6 months and it heads as far as 60 months. If you were to take out a £1000 loan over the complete year then the charge would be set at £228.68 with their APR being fixed at 48%. Based on this example, they are a few pence more expensive than UK Credit (£228.44), but they are a little cheaper than Amigo Loans who would ask for £236.72.

The guarantor must be a UK homeowner and they must be aged between the range of 18 and 75 to qualify. The LendFair guarantor loans can’t currently be managed online through www.lendfair.co.uk. They do secure all applications though and they also offer interest rebates for early settlements. The process can be delayed since documents may be required that can take a few days, although they state that in most cases you can obtain the funds within the period of 48 hours. Their office hours are from Monday to Friday from 9am to 6pm and so this is when all such applications will be processed.

It is interesting to see this company offer terms from just 6 months, since most of their rivals require a minimum yearly term. The introduction of this brand adds a further competitive edge to the guarantor loans sector. The demand from the public for this type of loan is relatively small and yet more lenders are springing up on a frequent basis. More recently in 2014 we saw the launch of George Banco who offer a product that accepts tenant backings. It has been no surprise to see so many new entries pop up since the sector default rates are low that creates minimum risk to those that lend.

1Plus1 Loans is another new entry in the popular guarantor loan space. This lender launched in 2013 at www.1plus1loans.co.uk. This is a creation of Secret Eye Ltd who also run the broker service by the name of The Finance Facility. Getting to the product info, £500 to £3000 is open to new applicants and £5000 is available when you return to them. The repayment range is spread from 12 to 60 months. Within this sector, we always calculate the £1000 charge over a 12 month period. When this has been done, they present a cost of £353 and they display variable APR at 49.9%.

This is the same rate as listed by the Amigo Loans Lender, but they would charge £236.72 and so 1Plus1 will have to chop down their pricing to compete with the best of them. It is stated that customers can receive their money on the same day as they apply and so it appears that no complicated forms have to be sent their way. The 1Plus1 Loans website at www.1plus1loans.co.uk is fully secured and you can even control your loan through the login provided. Although there is this management facility, it does state that you must phone them if you are looking to clear the balance.

The opening times from Monday to Friday are 9am to 6pm and you can also receive funding on a Saturday between 10am and 4pm. This is still a new company, but from research conducted they have already managed to receive plenty of positive feedback at the Review Centre. I did notice from their Facebook page that they sponsor Hale Football Club. Granted, this is only an U15’s team, but this does at least show their intent to generate some brand awareness. The guarantor requirement is not referenced clearly, but other than having a good credit score, the person backing must be no older than 70 years of age.

There has been some major recent changes with this lender. They previously traded through three separate brands, but they have closed the other two down to focus on this single identity at www.ukcredit.co.uk. They have taken down Guarantor Loans Online that was their initial product back in 2010. The other is Loans4Tenants that they unleashed in October 2013. Whilst GLO was a matched service, Loans4Tenants had a higher cost since a tenant could back the application. What they have now done with the UK Credit loans is to offer both a homeowner and a non-homeowner option. This lender has been the main contender to Amigo Loans over the years.

This sparked when they became the first company to offer a cheaper guarantor loan than Amigo. The cost of a £1000 12 month loan would now be £228.44 (if you are a tenant you would be offered £317.12). Although interest is headed as being fixed you will pay more if a broker sends you to them. This service offers £1000 to £7500 with a term range of 12 to 60 months. The www.ukcredit.co.uk website was originally registered in late 2004 and there was an update in 2013 that was when the revamp occurred. They do make a reference to 2010 that was when GLO was set on the market.

There is an “Existing Customers” section on the discussed site, but this allows you to complete unfinished applications only. They are open from Monday to Thursday (8am to 8pm), Friday is (8am to 6pm) and they now open on a Saturday (9am to 12pm). UK Credit recently took the top ranking on Trustpilot (of every lender covered), however they have recently been took over by their major rival Amigo. The sector competition has picked up in recent years and we have seen many new companies emerge. The public demand is clearly growing and the providers are making big improvements such as through same day payments on the day of application that you can receive here.

Buddy Loans was created by Advancis Ltd with this service being served from www.buddyloans.com. This is an aged domain, but the launch looks to have taken place in the first month of 2014. These Buddy guarantor loans range from £500 up to £7500 and the term span is 12 to 60 months. You can quickly identity the charges from their loan calculator that heads an APR rate of 54.4%. For £1000 over a year the charge would be £318.50. This isn’t priced as competitively as the majors, but it is good to see that they rise to £7500, since their rivals usually stop at £5000.

The web design of www.buddyloans.com has been crafted to a high standard. Other than looking the part, they do include secure account servicing that not many of their competitors offer. The loan process here is headed as typically taking 48 hours and so it does appear that no forms have to sent. This is assumed from seeing that they head same day cash as being possible if they can reach both parties quickly by phone. This would be during their operational hours only. This is a flexible product that grants early settlements and so you should be able to do this once you are logged in.

Qualification requires the backing of someone aged between 23 and 75, with a good credit score and they must be a homeowner. There is conflicting info provided surrounding their opening hours. At the bottom of the page Monday to Thursday is listed as 9am to 8pm, whilst on the contact page the closing time is shown as 5.30pm throughout these days. Friday is listed in both sections as 9am to 4.30pm. Buddy Loans is an approachable lender that is expected to have a busy year ahead of them. The product is more expensive than others in this sector, but it doesn’t appear that brokers fees are charged here.

TFS Loans is a guarantor brand from The Finance Store Ltd that you can find at www.tfsloans.co.uk. This website was created back in 2010, but this company has been active since 2003. It is unknown when they started offering guarantor loans, but FLM was likely to be the first company to offer this type of service back in 2005 (they brainstormed the idea in 2004). The TFS guarantor loan product in focus grants funds between £2000 and £10,000. This high sum is interesting to see since non of their competitors stretch as high as this. Their full repayment range sits from 2 to 5 years.

It would be ideal to see them begin from 12 months, but they do allow customers to repay early for a rebate. When we last analysed this firm they started from £1000, but the minimum loan is £2000 for 24 months. This would cost £878.80 that would calculate as £219.70 per £1000 per year. This is our best estimated guess and so you may pay more. Their headed APR is 44.9% and so they have lowered this recently. This company has always had an introducer program running and so broker fees would apply when referred. There are no logins at www.tfsloans.co.uk, but they do encrypt.

The design of the TFS Loans website was updated recently and their product information is now more clearly presented. To qualify, a homeowner with a good credit score is required and they must be aged between 18 and 80. Poor credit (including CCJs) is welcomed so long as a suitable backing can be sourced. Paperwork did have to be sent through the post, but they now just note that a payout is possible in 24 hours. Their times of operation from Monday to Thursday is 9am to 7pm and Friday is 9am to 5pm. Other than their valued experience, that possible £10,000 sum helps The Finance Store to stand out in this crowded market.