TFS Loans

Top deals

Top rate

AA

5.3%
£7,500 - £15k
1-7 years

Check eligibility Representative Example: The representative APR is 5.3% so if you borrow £10,000 over 5 years at a rate of 5.3% (fixed) you will repay £189.52 per month & total amount payable £11,371.03.

Post Office

5.9%
£7,500 - £15k
1-7 years

Check eligibility Representative Example: The representative APR is 5.9% so if you borrow £10,000 over 5 years at a rate of 5.9% (fixed) you will repay £192.15 per month & total amount payable £11,529.01.

Santander

6.3%
£7,500 - £15k
1-5 years

Check eligibility Representative Example: The representative APR is 6.3% so if you borrow £10,000 over 5 years at a rate of 6.3% (fixed) you will repay £193.91 per month & total amount payable £11,634.61.

Shawbrook

6.6%
£10k - £500k
3-25 years

Check eligibility Representative Example: The representative APR is 6.6% so if you borrow £10,000 over 5 years at a rate of 6.6% (fixed) you will repay £195.23 per month & total amount payable £11,713.96.

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TFS Loans Review

If you want a loan but have a bad credit score, history of CCJ’s, defaults or missed payments, then you may have been wondering if TFS loans is the right option for you.

TFS loans are a provider of what is known as Guarantor Loans, this means that instead of the lender consulting your credit history to decide if they will offer you a loan or not you can have a friend or family member agree to be your ‘guarantor’. The loan will instead rely on their credit history. The sum will initially be paid to the guarantor who needs to pass it on to the agreed borrower.

TFS Loan information

Borrow from £1,000 to £12,000
Repayment periods from 24 to 84 months
You can use the money for any legal purpose
No set-up fees on loans

Understanding a guarantor loan

What you need to understand about a guarantor loan is that the guarantor also accepts responsibility for it. If the borrower misses a repayment date it becomes the guarantor’s responsibility to pay it. Failing to do so can have serious complications for both parties.

TFS Loans Guarantor requirements

Must be a UK Homeowner
Aged from 18 – 78 (By the end of the repayment term)
Have a regular income

Before you take out a loan

It is important before you take out a loan that you have made sure it’s the right option for you. Consider alternatives before you apply, for example if you have any savings it might be beneficial to use these instead; as it may be that the interest you pay on a loan will be higher than any interest you earn in your savings.

There are other types of borrowing than personal and homeowner loans such as authorised overdrafts and credit cards you might wish to consider.

Also if you are thinking of taking out a loan to consolidate debt understand that spreading your payments over a longer term could mean you ultimately pay more overall than you would with your existing arrangements, even if the interest rate on the new loan is less than the rates you have at the moment.

How much do you wish to borrow?