First Choice Finance

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Company Information

First Choice Finance (Firstchoicefinance.co.uk) is a UK loan company that offers a range of loans, mortgages and other financial products. First Choice has a loan to suit every borrower, from those needing a small amount to cover a purchase to larger loans for homeowners or tenants. First Choice also has loans on offer for customers with a poor credit record or history, no credit history and even those who have faced mortgage arrears and County Court Judgements.

The guarantor loans from First Choice Finance are designed to help those with poor credit by allowing a family member or friend to support their loan application. The guarantor loan is unsecured and can be used to cover anything, from a car purchase to debt consolidation, or even a holiday. First Choice Finance offers its customers expert financial advice at every stage, and aims to help borrowers build up a stronger credit rating and get their finances under control.

The guarantor loan from First Choice Finance can be anywhere from £500 up to £10,000, and the payments can be spread up to six years. The loan does come with arrangement fees, but these can be added to the cost of the loan, allowing you to pay it back over time rather than spending extra cash upfront. The interest rate varies depending on your circumstances and the amount being borrowed, but the rates will be far lower than bad credit loans from payday lenders.

To qualify for a First Choice guarantor loan, you must be a UK resident aged 18 or over, have a UK bank account and be employed, self-employed or receiving a pension. You will also need to meet an affordability assessment conducted by the lender to ensure that you’ll be financially able to meet the payments without placing the responsibility on your guarantor.

To qualify to be a guarantor, you need to be 21 or over, have a good credit record and be a UK homeowner. You also must be willing to take over the loan should the borrower be unable to make repayments.

41 Reviews of First Choice Finance have been submitted - read the latest 3 below

Mum and dad have been brilliant and helped me get this loan from First Choice Finance. They've forgiven me for being a nightmare and getting myself into a lot of financial trouble when I was younger and now they just want to help me get my own place and to do that I needed to get an affordable loan but it had to be a guarantor loan because of my credit history. Lucky for me I have a well paid job now so the repayments on this loan aren't going to be a problem for me but I am very aware of the fact that if mum and dad hadn't helped me get this loan I would have had to take out a bad credit loan which might not have been quite so affordable. I am really grateful to them and to First Choice Finance.

Review posted by Lily Dewhurst, Bexleyheath

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I was 100% sure I could afford the loan I got from First Choice finance and I just hope my guarantor feels the same amount of certainty because I really don't want them to have any concerns on that score. My difficulty in getting a regular loan has nothing to do with me not being able to afford it. It's more about my past credit history which I am working very hard to improve on. I think First Choice Finance are able to see this which is probably why I was able to get such a good rate for this guarantor loan. It's a 1 year loan so I hope my guarantor can relax now and just let me get on with the job of making the repayments on time.

Review posted by Warren Clarkson, Southend-on-Sea

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I am very pleased with the loan First Choice Finance have given me. I think my guarantor is also happy with this loan because if they do have to step in and make the repayments, which is highly unlikely, at least they know what they are taking on is affordable. With any guarantor loan there is always the risk your guarantor may have to take over the repayments so I do think it is only fair that you let them have some say in which lender you go with and my guarantor was more than happy with my final choice. We'd done plenty of research first and both of us agreed First Choice Finance were offering me the best loan.

Review posted by Martin Lewis, Poole, Dorset

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