Guarantor Loans Online (GLO) has been providing their loan service through www.guarantorloansonline.com since 2010. The brand owner is UK Credit Ltd who are based in Norwich. Amigo Loans have had several competitors and many new ones have launched recently, but GLO has really been the biggest threat to their market share. They have managed to stand out from the crowd through their competitive interest rate offering. To highlight this, a £1000 sum over 12 months would be priced at £228.44 and this comes at the rate of 47.9% APR. In comparison, the rate at Amigo is 49.9% and their cost would be £236.72.

This shows that they are cheaper although there isn’t a significant difference. There would be a broker fee here if you were referred by a partner and so you should head directly to them to avoid this. When making an application you could choose between the amounts of £1000 to £5000, but they have now increased the maximum sum to £7500 that is a good move on their part. The term range of 12 to 60 months has remained the same. If you take out a loan with Guarantor Loans Online then you would have to do this without a login at www.guarantorloansonline.com. They do use SSL though and they have recently revamped the design.

Their opening times are 8am/8pm (Monday/Thursday) Friday (8am/6pm) and Saturday (9am/12pm). So long as the application is given the green light, cash can be received on the same day. The guarantor must be a UK homeowner with a good history in repaying their debts and they must be aged from 25 to 72. They have interestingly recently launched another brand called Loans4Tenants. The costs are more expensive there, but the person backing the loan is not required to be a homeowner and so more risk naturally is going to be attached, hence the price bump. GLO have also now took on FLA membership. Just to add that the product in question today is now also available through UK Credit.