Welcome to VeryMerryLoans.com, we can help you borrow £100 - £2,000 from 3 - 12 months.

Loans for 3 - 12 months.

Short, simple and fast application process.

Decisions in minutes.

How much you need today?

When can you repay this loan?

1 Months

Borrowing: £1000

Representative APR: 1192%

Repayment By: 5.1.2016

Interest: £58.68

Total Repayment: £1058.68

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Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 12 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable). We are a free licensed credit broker, not a lender.

Guarantor Loans

Guarantor lenders make it easy for people all over the UK to access short-term borrowing, even if you don’t have a perfect credit score. Borrowing guarantor payday loans is easy to do as long as you’re at least 18 years old and a UK citizen or legal resident with a UK bank account. You will also need to have income and, of course, you will need someone who is willing to be your guarantor.

What are guarantor lenders?

In many ways, guarantor lending is the oldest type of lending. It works on the principle that, even if you don’t have the financial muscle to convince a lender right now, you might have a trusted friend or family member who does and who is willing to stand as your guarantor. Guarantor loans are used for all sorts of reasons, as there are so many people in the UK – and beyond – who need a little support when it comes to finances. The advantage of guarantor lenders is that you can borrow the cash that you need no matter what your situation, whether you have issues with your credit score, you’re on benefits or you have a chequered credit history.

Who can be a guarantor?

A guarantor is normally a friend or family member who knows you well and believes that you will be able to repay what you borrow. Guarantors are usually homeowners and must be over 18. Essentially, the guarantor is the lender’s insurance policy – if, for any reason, you are not able to repay what you borrow the guarantor will step in and cover the payments for you.

What does a guarantor need to do?

Hopefully nothing. Your guarantor needs to understand that they will be responsible for repaying the lender if you are unable to, and they will be asked to sign a separate guarantor agreement. However, as long as you make the repayments on your loan then there is nothing for the guarantor to do. The idea behind guarantor loans is to reduce the lender’s risk so that they are happy to let you borrow, rather than to find someone to pay your loan back for you.

Are guarantor lenders different to payday lenders?

Mostly, no. You can find guarantor lenders via your own research or you can use a broker to help you do it. Applying for guarantor loans is very similar to any other type of loan and your guarantor won’t need to sign any of your documents. They won’t be involved in deciding how much you borrow or when you will repay – these are all your decisions. The only involvement the guarantor has in your application is agreeing to be the back up plan for the lender if you can’t make repayments. The biggest difference with guarantor lenders is that they may be willing to lend to someone that another lender may not – because they are backed by a guarantor. So, if you’ve struggled to access borrowing on your own, guarantor lenders might be a good option.

Very Merry Example

Loan Amount: £300
Loan Term: 3 months
Interest: £193.96
Total Repayable: £493.96 Apply

Representative APR: 1192%. (variable)
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.