Those making an application for guarantor loans do so in the knowledge that they can have access to an easy source of money generally within three days of filling in the application form. You can repay the loan back early if you want to without any redemption penalties..
With guarantor loans you may borrow money easily no matter what your credit history or if you have no credit history at all. If someone consents to be your guarantor, someone like a parent, relation or close friend who knows you well, you will not be credit scored, therefore your own credit history will not matter.
Many people may say the main advantage of guarantor loans is that the borrower's former credit history is rendered irrelevant. All prior arrears, defaults and missed payments are no longer relevant at all. As long as a guarantor with an average credit record can be nominated then you can obtain credit again, despite all the things that had gone on in the past.