Buddy Loans Review 2018 [Read Our Expert Opinion]

Jane Wardle

Written by Jane Wardle on February 2, 2018

Updated February 27, 2018

Overall Rated: 4 / 5


A highly regarded lender, Buddy Loans pride themselves on being the friendliest guarantor loans company. Helping customers with bad credit, offering same day payment and rebuilding credit history, Buddy Loans offer not only finance but support too.

Buddy Loans operate with two purposes; to be a ‘buddy’ to its customers and to let the ‘buddies’ of customers (guarantors) assist them in getting the financial assistance that they require. Buddy Loans offer up to £7,500 to their customers, with a loan term pay back over a period of 12 to 60 months.

Rather than basing their decision on credit scores and homeowner status, Buddy Loans follow the ‘old fashioned’ way of having someone you trust to support your application to confirm that the business can trust you to make your repayments.

The company are leading within their sector, and boast an impressive range of online reviews of real-life cases where they have helped. As a responsible lender, Buddy Loans review income and expenditure to ensure the loan they offer is appropriate for the customer’s situation. They also make sure the loan repayment schedule is affordable. The guarantor also has the same checks to make sure its accessible to both parties, should either party go through a difficult situation.


Trust & Reputation

Rated 4/5

Buddy Loans is a professional lender, regulated by the Financial Conduct Authority (FCA). Operating under a regulated government body shows they are an established company that regularly ensure their compliance and respectability with industry best practice, as well as keeping customers happy.

The lender regards itself as the ‘UK’s friendliest guarantor loans company”. The company are leading in the long-term loan industry, with competitive rates and a well-established system in place for helping customers who otherwise would not be able to get a loan.

As well as helping its customers, Buddy Loans also conduct a remarkable amount of charity work, including recently raising £2,000 running the London Marathon. Participating in events like this gives the company the opportunity to make a lasting impression on prospective customers for all the right reasons.

Expertise & knowledge

Rated 4/5

The primary service of Buddy Loans operates through trust. Offering long-term loans designed to help customers boost their credit score, all the company require is someone that trusts the customer to be their guarantor.

Their driving motto is ‘If your good buddy says you are good enough for a loan, then you are good enough for a Buddy Loan’. The lender is well established within the sector, and having guarantor loans as their leading product gives them a focus, niche and expertise. Understanding that a high number of people who require financial assistance are unable to seek help from banks, the team have developed knowledge of a variety of situations customers have faced and what type of loan can help. This range of situational expertise that the advisors can offer advice in all different cases.

As well as this range of knowledge from experience, the staff at Buddy Loans also know that every application is a unique and always ensure to follow industry best practice.

Customer Service

Rated 4/5

Based on independent review websites, it is clear that customers receive high levels of service with Buddy Loans. On Trustpilot, the company holds 85% of their 1,225 reviews as ‘excellent’ and only 1% rated as ‘bad’. Drawing from such a high level of responses provides accuracy and consistency for potential customers who are considering using the company. Customers mark Buddy Loans for their excellent service, speed and simplicity and positive attitudes on the phone.

Customers regularly mention staff names, showing the personalised service and training of customer service advisors. It is evident that Buddy Loans want to deliver an excellent customer experience and make it positively memorable. Choose Wisely also offer similar scores for Buddy Loans. They score an impressive 4.8 out of 5 stars from a total of over 1,000 reviews further confirming consistency and excellence of their operations.

The staff at Buddy Loans strive for excellence, regularly exceeding the needs of customers and further boosting their scores by ratings from the guarantors. Having reviews from both parties gives an across the board representation of how the business regularly operates fair agreements and provides excellent customer service.