Will lend between: £500 - £10,000
Over: 12 - 60 Months
TrustTwo customer reviews.
3.0 out of 5 stars
Our review of TrustTwo
TrustTwo offer guarantor loans between £500 and £10,000 to people who struggle to get credit, as long as they have a friend or family member who can support their application. TrustTwo allows tenants, homeowners and those living with parents to act as a guarantor. It's worth noting that a guarantor who is a homeowner will however, have a greater likelihood of acceptance.
TrustTwo have plenty of highly praised reviews on Feefo (a 99% overall satisfaction score). Their positive reviews include praise from consumers regarding the guidance and support provided gby TrustTwo’s customer serce svitaff throughout the process. What does let them down is their seemingly long-winded application process, with some reviews commenting on the lengthy time from application to payout.
As with any guarantor product the usual guarantor loan health warning applies; they can be a suitable option for those looking to rebuild their credit histories but if you’re in any doubt about being able to make your repayments, I wouldn’t advise applying as your guarantor will have to pick up the pieces. If you're considering becoming a guarantor for a TrustTwo 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.
Overall verdict: As guarantor products go, TrustTwo is a worthy contender. They’re slightly cheaper than others on the market and although their process can be long-winded, they do support and communicate with you throughout the process and the loan term. Just make sure you and your guarantor know exactly what you’re getting into before you sign anything.
- You don’t need to have good credit history
- Your guarantor can be a tenant or homeowner
- You can choose weekly or monthly repayments
- They don’t charge any upfront fees
- You guarantor can be living with their parents
- You will need to be aged over 18 years
- You must be a UK resident
- No bankruptcy, IVAs or debt management plans
- Your guarantor must be aged between 25 and 74
- Your guarantor can be someone close to you but not a spouse
- Maximum APR 49.74%
- Arrangement fee: £0
- Early repayment fee: £0
- Late payment fee: £0
TrustTwo offers guarantor loans from £500 to £10,000 over a period of one and a half to five years. Their representative APR is 49.5% if your guarantor is a homeowner, 49.9% if your guarantor is a tenant or living with their parents, and these scores depend on your personal circumstances, how much you’re looking to borrow and the loan term.
Their loans are targeted towards people that have been turned down elsewhere for credit, however they will not accept customers who have been declared bankrupt, are in an IVA or are under a debt management plan.
In order to apply, customers will need a guarantor and will accept family members, friends or work colleagues between 25 and 74 years of age. TrustTwo accept both tenants and homeowners as guarantors, however, if they're a homeowner it will improve their likelihood of being accepted. Your guarantor must also have a good credit history and be able to cover repayments if you're unable to.
TrustTwo offer a range of payment options such as weekly or monthly and customers are able to settle their loan early at any time.
Registration number: 05850869
Secure Trust House, Boston Drive, Bourne End, Buckinghamshire SL8 5YS
Reference No: 724445
Trading names: Everyday Loans
Place of business: Secure Trust House, Boston Drive, Bourne End, Buckinghamshire SL8 5YS
Data protection registration
Registration No: Z9591892
Data controller: Everyday Loans Limited
Address: Secure Trust House, Boston Drive, Bourne End, Buckinghamshire SL8 5YSApply Now