We are an Introducer Appointed Representative of Quint Group Limited, who are a credit broker, not a lender. OinkMoney.com Introduces customers to Monevo Ltd who are an Appointed Representative of Quint Group Ltd for the purposes of obtaining a loan. Oink Money does not provide any loan or consumer credit products directly.

Personal Loans with No Guarantor

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What is a 'no guarantor loan'?

A guarantor is somebody named alongside an individual who takes out a personal loan and is responsible for paying back the money if the borrower is unable to. They work by essentially promising a lender that they will get the full amount back even if the borrower cannot afford to repay it.

Consequently, a no guarantor loan is one which does not require such a back-up. Most current short-term loans do not need somebody to guarantee the agreement, as lenders know it creates a lot of extra hassle and longer wait times.

Guarantor loan lenders will often agree to lend you more money for more time as they know they will definitely get the assets back either way. But no guarantor loans tend to be shorter term and for smaller amounts.

Loans which required a guarantor were once seen as one of the few options for people who had bad credit ratings and had been refused by mainstream, traditional lenders, or for those on benefits.

People who applied for guarantor loans may even have been unable to build up a credit rating with the help of mortgages and credit cards, especially if they were young and yet to get a foot on the economic ladder.

What are the benefits of personal loans with no guarantor?

People who guarantee loans often have to be homeowners, have a good clean credit score and generally in work.

It can come with high risks; if the guarantor is unable to pay the loan back too, they may be taken to court or have capital seized.

Lenders now understand that few people may be willing to take such a risk on somebody else’s behalf, and also know that not every borrower knows somebody in such a position to qualify for the role of guarantor.

No guarantor loans mean you don’t have to rely on somebody else to prove you are a worthy investment, so can be quicker and safer to obtain.

They can be simple to obtain with a bad credit score, as many modern-day lenders will now consider your employment status and previous borrowing record rather than credit ratings. Your chances of being approved may be higher with guarantor loans, but no guarantor borrowings are simpler.

What can I use a non-guarantor loan for?

Pretty much anything! You may want to borrow money to pay for repairs on a household appliance or car, or you may want that extra bit of cash to put down a deposit for your first flat.

It is recommended that you don’t take out loans for unnecessary expenditure or to ‘treat yourself’, as there are risks involved if you find yourself unable to pay back the money. However, most general loan lenders will not ask what it is you are spending the money on.

How much can I borrow?

Every lender offers different amounts of money, and this may also depend on your particular circumstances and financial situation. However, it is common to be able to apply for amounts between £100 and £3000.

Always remember that you must pay back the full amount plus any interest in the time limit specified, so the amount you pay back will probably be more than you borrowed.

It is often more expensive to obtain a no guarantor loan that a guarantor loan as there is a higher risk for the lender. There may be higher APR, meaning you pay back more. If this is a concern, a low-interest guarantor loan could be a better option.

How long you have to pay back the money will be dependent on your deal and circumstances, but generally will be between a few months and two years.

How can I apply for a no guarantor loan?

You can apply through Oink Money and Monevo's service right now. The most appropriate panel of lenders will appear which suit your circumstances. Subject to the individual company’s criteria, it is highly possible you will be able to apply for the one you find most suitable.

Many non-traditional loans (such as ones not through banks) are now applied for online, which makes the process fast, straightforward and short, and the money is easy to obtain.

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Due to the nature of these loans, the money may be in your account within a few hours of your application being approved. Lenders don’t have to check a guarantor’s credit history, so it’s less hassle, and some may offer instant decisions.

No-Guarantor loans often involve a lot of paperwork and possible face-to-face meetings, which isn’t ideal if you need cash fast. The money may also be passed to them first as a security measure, which further delays the process.

The best no guarantor loans will have low APR and interest, as well as allowing you to pay back the money sooner if you can.


We are an Introducer Appointed Representative of Quint Group Limited, who are a credit broker, not a lender.

OinkMoney.com Introduces customers to Monevo Ltd who are an Appointed Representative of Quint Group Ltd for the purposes of obtaining a loan. Oink Money does not provide any loan or consumer credit products directly. We do not make short term loan or credit decisions.

We do not charge any fees. If you are contacted by anyone saying they are calling from Oink Money requesting you make them a payment, you should report this to www.actionfraud.police.uk immediately. We will never contact you asking for a payment.

*The loan amount and interest rate you are offered are subject to lenders requirements and approval. If accepted by a lender, a full credit check will be carried out. If Monevo are unable to find you a loan, they may offer you an alternative product. The time it takes for the funds to appear in your account may take longer, and will depend on your bank and the lender's own policies and procedures.