GET YOUR LOAN NOW

We counsel our clients on their key strategic issues

Check your eligibility now

The Easy and Fastest Way to Apply for
Loans and Mortgages

About Guarantor Loans

To be successfully given a loan can be a nightmare if you have a bad credit history. Well, if you fall into that category, there is a better option for you, which is a guarantor loan.

Guarantor loans involve getting someone who is ready to pay your debts back in case you are not able to pay back. This in a way assures your lender, because it provides security to the lender who is taking the risk. A guarantor loan is more flexible and easy to get

Frequently Asked Question


Who qualifies as a guarantor?
Your guarantor is a person that knows about you at least for 2 years, the guarantor can be a close relative or a friend. The guarantor should be able to confirm your identity.

Can you remove your guarantor from your loan?
Yes you can, but it all turns down to your loan value ratio(LVR), this will be the major concern of the bank, LVR is the percentage of the your remaining loan amount against the value of your property.

Does your guarantor need to be working?
No, but must be between the ages of 18-75, a UK resident and their records must be clear of bills payment, their affordability of the loan should also be declared if you do not make the repayment.

Is it a good idea to get a guarantor loan?
A guarantor loan is a perfectly legitimate way to help someone with a poor credit rating get the finance they need. There is a financial risk involved, especially if you are a guarantor. However, the level of risk is no higher than it would be from a regular bank loan.

Yes, it helps someone with a bad credit score, but the guarantor might be at risk, but not so high risk compared to a regular bank loan.


Personal Information

Home Details

Monthly Expenditure

Employment Status

By ticking this box and submitting your application you confirm that you:
Have read and agree with our Terms & Conditions and Privacy Policy
Agree that we can contact you to progress your application and provide product and services updates.

Steps To Take

Before opting for a guarantor loan, a guarantor should be the first thing to look for. The guarantor can either be a family member or a friend who trust you and who s ready to make your repayments in case you are unable to meet your repayment. Your guarantor must not be financially connected to you. Since its an unsecured loan involving a guarantor, your bad credit history won be considered.

Criteria For Gurantor

  • Be over 21-75 years
  • A home owner (sometimes might be part of the requirement)
  • Enough equity in your property
  • Family/friend
  • Credit history
  • Employments records
  • Bank statement
  • Be financially independent of the borrower

About Guarantors Obligation

  • Co-signing the loan agreement with the borrower
  • Receive the fund and pass it onto the borrower
  • when repayment are not duly paid on time by the borrower, the lender works with them to get the borrower back on track, if they still are not able to meet up, the guarantor makes the repayment

Benefits

  • A guarantor loan can help build a bad credit history, once the repayment is made on time every month, a good rating will be given to you. This makes you have greater advantage of getting standard unsecured loans, credit card, and mortgage without having to use a guarantor
  • The interest for a guarantor loan is high but very cheap compared to pay day loan and other bank credit loan
  • More money can be borrowed for longer period between £1000-£7500 for the period of 1-5 years

 

TAKE A LOOK

OUR BLOG

What does Lorem Ipsum mean?

Lorem ipsum, in graphical and textual context, refers to filler text that is placed in a document or visual presentation.

What does Lorem Ipsum mean?

Lorem ipsum, in graphical and textual context, refers to filler text that is placed in a document or visual presentation.

What does Lorem Ipsum mean?

Lorem ipsum, in graphical and textual context, refers to filler text that is placed in a document or visual presentation.

Your financial wellness is our concern. Get in touch with us Today