39.9% Representative
Will lend between: £1,000 - £5,000
Over: 12 - 60 Months
Check your eligibility and compare UK direct lenders that have accepted your application.
Based in Blackburn, Rate Drop (previously 1plus1) have been active since Feb 2013.They pride themselves on service, reliability and speedy payout times. If you don't know what a guarantor loan is, have a read of our guide all about guarantor loans.
In regards to price, Rate Drop are competitive with other guarantor lenders in the market. Reviews from both consumers and the press are almost all positive – at the time of writing TrustPilot scored them 8.3 out of 10.
Guarantor loans can be a cost-effective option for those who have had poor credit in the past, but are now on a firmer financial footing. However, make sure you're 100% certain you can meet the repayments before making a commitment. If you're in any doubt at all, don't put the responsibility on to the shoulders of friends or family.
If you're considering becoming a guarantor for a Rate Drop loan, it pays to think carefully. If you do decide that you want to help someone out, there may be cheaper ways to do it including lending the money to them yourself or taking out a loan in joint names.
Our verdict: Rate Drop are consumer focused and have a competitive price point. If you're looking for a guarantor loan Rate Drop are an attractive offering. But beware, guarantor loans are a product with a caution sticker.
Rate Drop are a guarantor lender that offers loans between £1000 and £5,000 with repayment periods of one and five years. They base eligibility on creditworthiness, affordability and friends and family rather than credit ratings.
They aim to make the application process as pain-free as possible and have efficient payout times, with most customers having the money appear in their account the same day they apply.
They’re also easy to reach if you need to get in touch and have an online team available 24 hours a day, 7 days a week and a phone team available from 9am to 6pm, Monday to Friday for those of you who prefer speaking to someone directly.
Registration number: 8387053
1st Floor Yorkshire House, 18 Chapel Street, Liverpool, L3 9AG
Reference No: 717767
Trading names: Rate Drop
Place of business:1st Floor Yorkshire House, 18 Chapel Street, Liverpool, L3 9AG
Registration No: Z3574423
Data controller: Credit Labs Limited
Address: 1st Floor Yorkshire House, 18 Chapel Street, Liverpool, L3 9AG
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