Loans In Guernsey - New

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  • Applicants must be over 18 years old
  • Earn a minimum of £10,000 per year
  • Lenders can't accept applicants who are furloughed or on sick leave.
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Find out What you Borrow - Compare Loans in Just a Few Seconds

  • It just takes a few seconds to find out which loans you’re likely to get
  • Compare loans from 20+ lenders and choose the best for your needs
  • Our soft search won’t impact your credit score
  • Get the information you need to make the best choice
  • Rest easy that you got the best rates and terms

When you need money, loans can save the day. A well-timed loan can help you complete renovations, consolidate your debt load, or buy a car. But when you take out a loan, you need to ensure that you can afford your repayments and handle the financial burden of the loan. It’s incredibly important to make sure you choose the right loan for your needs.

Are you looking for a loan in Guernsey? Start by choosing how much money you want to borrow and how long you want the repayment period to be. With that information, we can help you choose the right loan.

Comparing Loans

It’s always smart to compare rates, terms, and fees before you settle on a specific loan from a lender. But with tens of thousands of combinations out there, it can be an overwhelming process, and it’s easy to get sucked in by ‘too good to be true’ APRs. Instead of trying to do this on your own, let our experts help you compare loans. We’ll make sure you get the best loan for your needs.

We just need a few pieces of info from you. Then it just takes us a matter of seconds to show you which lenders are likely to offer you a loan. We’ll provide you with the APR, terms, and probability that they’ll offer you the money. Then all you need to do is decide which one you want to apply for and when.

What happens if you go ahead and apply for random loans without this information? You’re far more likely to be denied, which will damage your credit score. Even worse, you could get approved for an unfavourable loan and end up paying back way more than you need to. Don’t risk it!

Comparing loans in Guernsey

What do you want from your loan?

  • How much money are you hoping to borrow?
  • How long do you want the repayment period to be?
  • How much can you afford for monthly repayments?
  • What are you using the money for? Do you want to pay back debt, do some home renovations, or buy a car? Your lender will want to know.

We also need to know some basic information about you, including your name, employer, address, birthdate, and how much money you make. With this information, we can have a look at your credit file and determine which loans you’re likely to qualify for.

Different types of loans

Don’t make the common mistake of applying for the first loan that seems to meet your needs. You could regret this! Instead, check out which loans are out there and get familiar with their terms and conditions. It’s always smart to do your homework – don’t get caught out with an unfavourable loan.

Here are some of the most common loans you’ll find offered in Guernsey.

Secured loans

If you want to borrow a large sum of money at a low rate, you should look at a secured loan. This allows you to borrow a set amount that is secured against your assets, like your car or property.

Sounds great, right? Just remember that the level of risk is high with a secured loan. If you can’t meet your repayment requirements, the lender could take your car or house.

Guarantor Loans

People with bad credit often need to find a guarantor. Guarantor loans are unsecured loans where someone else signs on your behalf.

They’ll be responsible for the payments if you can’t make them or if you default.

Personal Loans

Personal loans are a common type of loan that usually allow you to borrow up to £25,000. These loans aren’t secured against anything you own. Instead, the terms of the loan are based on your credit history and rating.

Bad credit loans

Trying to get a loan with bad credit can be difficult. Most lenders do not want to risk lending to someone with a poor track record. But some will!

However, you will likely need to pay higher interest rates, and most lenders will require a guarantor to sign on your behalf. They’ll be on the hook if you default on your payments.

Debt Consolidation Loans

Maybe you have a lot of small loans? If so, you might want a consolidation loan. It will combine all of your debts into one payment, so you can reduce the interest and amount you pay in the long run.

Car loans

Do you want to buy a car? In most cases, you’re better off with a car finance loan from a dealership or private lender. However, you might be able to get a personal loan that works better for your needs.

Loans in Guernsey

Getting accepted for a loan

One of the most common questions we get is, “will I get accepted for a loan?” Did you know that most people think they have a lower credit rating than they actually do? We can do a soft search to find out which loans you qualify for and compare the best options for your needs.

Remember – whether you get accepted usually depends on your credit history and score. After all, lenders are hesitant to lend money to someone who has demonstrated they can’t make regular repayments.

It’s always smart to compare loans in advance. All you need to do is answer a few simple questions about your circumstances, and you can find out which loans you’re likely to qualify for before you formally apply - and risk your credit score.

Does comparing loans damage your credit score?

Don’t worry – comparing loans with a soft search won’t impact your credit rating at all. No lenders can see these searches, so there is no impact on your score as a result. It’s that easy!

So, when does applying for a loan impact your credit history? This occurs when you actually make a formal application and get rejected. That’s why we caution against applying for too many loans or applying when you’re not sure about the outcome. Even if you do get accepted, lenders can see how often you applied from other companies, and it makes them hesitate.

Only apply for loans when you’re reasonably sure you’ll be accepted and only when you plan to accept.

Credit score Guernsey

Getting the best rate on a loan

Everyone wants the best rate possible for their loan. If you want to get the best rate possible, improve your credit score! The best time to start is now.

You can start by always making your payments on time and using less of your available credit. Don’t apply for loans or credit in the meantime – only do soft searches. Struggling to make payments? Get in touch with your lender to negotiate a payment plan.

Here are some simple ways to get a good rate on your next loan.

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Frequently Asked Questions

Check out some of the most common questions we get about loans. Have a different question? Get in touch, and we’ll do our best to answer.

  • How much will my loan cost me?

    If you want to determine your loan's cost, start by looking at the APR. Next, check out the total amount you’ll pay back and calculate the fees, charges, and monthly payments. Can you afford these amounts? Don’t accept a loan if you think you’ll struggle!

  • Should I get a loan from my bank?

    A lot of people turn to their bank when they need a loan, but this isn’t always the best option. Sure, your bank will lend you the money if your credit rating is high, but it might not be the best option. You should shop around and always compare interest rates, terms, and APR.

  • Can you pay your loan back early?

    Most loans do allow you to pay your loan back early, but some lenders charge extra fees or penalties if you overpay. Check the fine print before you start making extra payments, so you don’t accidentally cost yourself extra money and stress.

  • Cashback mortgages

    A cash back mortgage gives you a lump sum of cash upon completion. You can use this money to pay for fees, moving costs, and home essentials. 


    Keep in mind that cashback mortgages don’t usually have great rates, so be sure to compare costs. 

  • What if my partner has a low credit rating?

    Many couples have unequal credit ratings. That is, one partner has a good score while the other has a poor rating, which will definitely affect your terms and interest rate if you apply for a joint loan. But did you know that your partner’s poor credit score can negatively impact your loan even if you apply on your own? Lenders can see that you’re connected. Both partners should work on their credit ratings before either one applies for a loan. 

  • Can self-employed people get a loan?

    Self-employed people face some extra hurdles when they apply for any kind of loan. Lenders can be unsure about their income and often want extra assurance about their ability to make payments. That said, as long as you have two years’ worth of accounts completed by an accountant, most lenders will extend you an offer.

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