Loans with no guarantor

September 24, 2012 Solution Loans One comment

So you’ve searched for a loan where no guarantor is needed. Such loans are certainly available but the banks are extremely particular about who they will lend to – given the economic climate they just don’t want to take risks. They would rather hoard their cash then lend it out if there is any risk. If you are a non homeowner, or if you simply have a credit history with some weaknesses in it then you may struggle to find loans with no guarantor required.

Loans with no guarantor? Go for a guarantor loan

Go for a guarantor loan – it may be a better option than loans with no guarantor.

We know you may not want a guarantor loan, but it is an option you might want to consider. If you’re simply fearful that getting a guarantor loan is too much hassle then may be we can convince you that it’s not as tricky as you think. And loans with no guarantor may not be your best option.

Loans with no Guarantor

There are several options to get loans with no guarantor even if you have credit issues – even with these, though, you will have to compromise:

1) Homeowner Loans – sizeable loans where you offer your home as security for the loan. The loan will typically be for £10k to £100k and would be repaid over an extended time. Obviously you need to be a homeowner.

2) Logbook Loans – you use your car (assuming you are the owner and there is no outstanding finance on it) as the security and borrow against it. You’ll only be able to borrow a proportion of the value of the car. You are able to continue driving the car while you repay the loan.

3) Pawn Brokers – you offer anything that you own as security for a cash loan. The lender will only offer you a portion of the asset value as a loan in case the asset changes value while the loan is outstanding. Examples of assets offered as security include cars, jewellery, art, antiques, etc.

With all types of secured loans your asset is ultimately at risk. If you cannot repay the loan then the lender could sell the asset to recover the outstanding amount.

Question: Do you really want to put your assets at risk? May be you want to consider a guarantor loan rather loans with no guarantor.

How to Get a Guarantor Loan

Two things may change your opinion of guarantor loans:

1) You’ll be surprised about how helpful your family, relations and friends will be if you ask them to be your guarantor – if a potential guarantor asks you questions then give them this link.

2) Use our FREE enquiry service and in 60 seconds you’ll have an instant decision from our pool of lenders. You’ll know how many lenders will make you an offer in principle. It’s also possible for both you and your chosen guarantor to provide online all the information required. The process is so slick now that you could have up to £7500 within 24 hours.

There is a lot of information throughout this blog and the main website – just choose the links in the menu most relevant to your situation.

 

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Guarantor payday loans – what are they?

September 21, 2012 Solution Loans No comments

Payday loans are now a mainstream lending service – millions of UK people have used a payday loan at least once. Payday lenders operate online and more and more frequently in the high street too. But as you may be aware payday loans are under scrutiny from various organisations. There have been claims made about the high APRs of payday loans and their lack of flexibility. Others have claimed that lenders have been targeting people who will struggle to repay the loan and will have to roll it over so incurring extra costs. Whether these arguments have any merit is not clear yet. Guarantor payday loans aim to help people avoid standard payday loans.

Guarantor Payday Loans

Guarantor payday loans save you cash compared to a standard payday loan

Guarantor Payday Loans

Guarantor loan lenders have been looking at ways to offer cash loans at a lower cost and on more flexible terms than “old fashioned” payday loans. And we think they’ve come up trumps. In fact the options that now exist cannot be called payday loans because repayments are flexible – they can be repaid whenever you like. You might think this flexibility might come at a price but in fact the APRs are lower than on payday loans!

To get these flexibility and cost benefits you do need to provide a guarantor – but they don’t need to be a homeowner. While you might think is a pain to sort out perhaps we should examine why it’s worth your while to find one.

Guarantor Payday Loans vs Standard Payday Loans

Imagine that you need to borrow £500 for 31 days – what would it cost you? Looking at typical lenders of each type:

1) Standard Payday Loans

You would repay £29.95 in interest for each £100 you borrow. Therefore you would have to repay a total of £649.95 on your next payday. This is an APR of 1909% (an annual interest rate of 359.4% fixed).

2) Guarantor Payday Loans

You would repay a total of £581.78 on your next payday. This is an APR of 530%   (an annual interest rate of 199% fixed).

Conclusions:

a) In this example you would save £68.17 or 45% of the interest cost! A considerable saving.

b) Whereas you have to repay the standard payday loan on your next payday, or incur extra interest and charges, you can elect to repay the guarantor payday loan whenever you wish without penalty. Guarantor payday loans lenders charge on a daily basis rather than fixed periods.

So, get yourself a guarantor and save yourself a packet!

Where can you get Guarantor Payday Loans?

We work with all the most reputable guarantor payday loans lenders – the simplest and most effective way of getting your loan is to use our FREE application service. We’ll tell you which lenders think they can help you. You can then immediately proceed to get your loan with the lender.

 

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Guarantor loan lenders deliver great online service

September 18, 2012 Solution Loans No comments

You have to admire how in the last decade internet technology has transformed the way we get stuff done. To some extent personal finance has been slower than many other business sectors to embrace it. But it’s now catching up fast. Guarantor loan lenders are at the forefront of creating the smoothest customer experience online- from making an application, to providing an instant decision right through to signing agreements digitally and getting the cash to you. All this is now possible. Such is the reliability of systems that you can get a large guarantor loan organised and paid out in just 24 hours!

Guarantor loan lenders provide smooth online services

Guarantor loan lenders now provide smooth seamless online experiences

It hasn’t happened overnight by any means. Lenders have been experimenting for many years. We work with all the most respected lenders and there is now a large pool of them who are able to take enquiries electronically and give us instant decisions.

Our Online Service

We have built our enquiry system to enable you to apply to multiple guarantor loan lenders simultaneously and then get instant in principle lending decisions. We want to do the hard work for you – so we teamed up with our approved partners, and integrated our systems. You apply just once and yet get (hopefully) multiple loan offers that you can compare and contrast. Once you’ve chosen your preferred option from all the guarantor loan lenders you can automatically complete the application process online and digitally sign the documents. The loan is then paid out electronically. All very swift and secure.

Guarantor Loan Lenders & Digital Signatures

For some reason the idea of “digitally signing” a document worries some people, or they can’t quite comprehend it. It doesn’t mean somehow writing your physical signature and uploading it to a computer. It does mean expressing your agreement online by confirming acceptance of terms & conditions using, for instance, the click of a button or similar. So, for example every time you buy something from Amazon and confirm the order you have digitally signed Amazon’s agreement. It is the same when you take out a loan from guarantor loan lenders who offer this service. Digital signatures are now part of everyday life and fully secure.

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Loans with Guarantor Non Homeowner – We can explain

September 17, 2012 Solution Loans No comments

There is a rapidly growing demand for loans with guarantor non homeowner – in other words unsecured loans with a guarantor where the guarantor does not have to be a homeowner. We’re seeing a gradual increase in the number of such loans available. Lenders are realising that there is a pent up demand and they are developing products to accommodate this need. Guarantor loans were developed to give people with bad credit another route to unsecured credit. Initially all guarantor loans required the guarantor to be a homeowner. To be honest this was simply for the lender’s peace of mind. And that seems reasonable. They specified homeowners because they typically stay put – they don’t tend move frequently. Now lenders are finding other ways to get that peace of mind – guarantors don’t always have to be homeowners.

loans with guarantor non homeowner

Spot the phrase “Loans with guarantor non homeowner”.

Loans with Guarantor Non Homeowner – what’s available?

Within a few months we are expecting to see a strong competitive move in this sector. We’ll keep you up to date via our website when we know more. In the meantime there are 2 basic guarantor loan types where the guarantor does not have to be a homeowner:

  1. Small cash loans of £50 to £500 where you can get the cash within 1 hour of applying online – view more information.
  2. Fixed value £1000 loans where you can choose between borrowing periods of 12, 18 or 24 months. Get more information here.

We know that these loan values may not be quite as high as you would like. However, we know that the top values of such loans are due to rise and the lenders who “work it out” most quickly will be the ones who win. There is no doubt that making guarantors only homeowners limits the size of the population that can be helped but that should all change soon.

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Guaranteed Loans – do such things exist?

September 14, 2012 Solution Loans No comments

Times are hard and the banks aren’t playing ball. If they sniff any risk they run a mile. They’d rather hoard their cash than risk helping to kick start the economy. If you’ve been turned down time and again for a simple unsecured loan you might start to wonder if there are guaranteed loans of any type. Plenty of people search for guaranteed loans but do they exist?

Can anyone really offer guaranteed loans?

Is it possible to offer guaranteed loans?

The Nearest Thing to Guaranteed Loans

Every lender has to abide by laws relating to responsible lending. So in that sense it is impossible for anyone to say they can offer guaranteed loans. It’s all about the affordability test – do you have enough income (employment, benefits, pension, investment income) to be able to repay the monthly instalments required by the lender? If the lender judges that you haven’t then the only guarantee is that they won’t be able to offer you a loan.

But there might be loan options that offer a reasonable chance of success:

  • where you offer up an asset as security for the loan
  • where you offer up a guarantor for the loan

1. Assets as Security

One way of getting “guaranteed loans” is to give the lender a valuable asset that would compensate them is you were to fail to repay the loan. There are a number of these so-called secured loans:

  • Homeowner secured loans – where you provide your house as security (but you must be the homeowner, obviously)
  • Logbook Loans – where your car is the valuable asset. You still get to drive the car during the loan period
  • Pawnbroker Loans – any asset can be offered to the lender (e.g. jewellery, art, antiques, cars, etc).

In all these cases you won’t be able to get a loan to the value of the asset – the lender will only lend you a % of the value of the asset, in case they have over valued the asset or there is a risk the asset value could diminish over the period of the loan.

2. Guarantor as Security

Guarantor loans are relatively new and they are classified as an unsecured loan – i.e. you don’t have to provide any assets as security. And in any case you might not have a car, jewellery or valuables of other kinds to offer as security. However, you may have great friends and relations – people who know you really well and so trust you. If you can find someone who’ll back your application and act as your guarantor then you stand a good chance of getting a loan – subject, of course, to the affordability check we mentioned earlier. And the lenders will not credit score you.

Our Guarantor Loans Service

So while there are no such things as guaranteed loans there is at least a way of getting unsecured loans of £50 to £7500 relatively quickly and with relatively little hassle. Our enquiry service will match you to possible lenders – you complete our short enquiry form and then within 30 seconds we’ll tell you which of our panel of lenders says they can help you in principle. Depending on the lender you may even be able to continue with your full application online. It is possible to get up to £500 in 1 hour, and up to £7500 within 24 hours.

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Amigo Loans so superior to FLM Loans

September 11, 2012 Solution Loans No comments

We’ve noticed that a considerable number of people are still searching the web for “FLM Loans” even though FLM Loans was killed off in March 2012. It was replaced by the new improved and much more customer-orientated “Amigo Loans” who you have probably seen advertising on TV and the web. FLM Loans originated in 2004 based on the simple idea of replacing lending decisions based on credit scores with lending decisions based on friendship & trust – and so was born the “guarantor loan”.

FLM Loans has been replaced by the superior Amigo Loans

FLM Loans has been replaced by the superior Amigo Loans

FLM Loans & Guarantor Loans

In the 8 years that FLM Loans existed it issued more than 60,000 unsecured loans to people who would have been rejected by high street lenders on the basis of their credit history. Our website explains these guarantor loans in more detail. As with any product or service that is genuinely revolutionary FLM Loans came up against a lot of challenges and it would probably be the first to admit that it didn’t always handle things as efficiently and effectively as everyone would have liked. But it did learn the lessons and in 2012 it wrapped all these lessons together to develop and launch Amigo Loans.

Who are Amigo Loans?

We believe Amigo Loans are a genuinely customer-orientated customer-focused business. Amigo is run by a young team of dynamic people. They have a strong belief that they are providing a game-changing lending service. They want to stir up the market and provide affordable credit to people who would otherwise be locked out of the credit market. But we should also emphasise that they take their lending responsibilities very seriously and they do work to strict affordability rules – so don’t take offence if they feel they can’t lend to you. It’s simply because they don’t want to see you with debt you can’t afford to repay. And finally they have a sense of humour – if you haven’t seen one of their TV adverts then take a look at this:

Good Ideas Spark Competition!

Part of the reason that FLM Loans realised they needed to re-invent themselves was because other companies were beginning to offer guarantor loans too. FLM Loans had had the market pretty much to themselves for years. But competition makes you pull your socks up and get a grip on what really needs to be done. In the past 12 months there have been a number of new lenders enter the guarantor loans market. And others are on their way. This is where our enquiry service can help – simply complete our short enquiry form and we’ll tell you in 30 seconds which lenders are willing to lend to you in principle. We only work with reputable lenders (of which Amigo Loans is one). More often than not when people apply through us we’re able to identify multiple loan offers – so you have a choice of lenders to play with.

So, it’s “good bye” to FLM Loans and “hello” to a choice of good quality guarantor loan lenders – remember to use our service to find what you need.

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Loans with guarantors rewrite rules

September 4, 2012 Solution Loans No comments

Loans with guarantors are a form of unsecured loan that may suit people who have a bad credit history. Why, you might say? It’s all about separating the usual link between a person’s credit history and their credit future! There are a growing number of lenders who are looking at lending in a different way. They want to find a way of making unsecured loans available to people who mainstream lenders refuse to help.

Loans with guarantors - helping hands

Loans with guarantors – the helping hands of your family and friends

Loans with Guarantors

To make a poor credit history irrelevant to future lending decisions lenders have devised a method that gives them the trust without requiring you to be credit scored. This is done in a very simple way – you provide the lender with the details of someone who trusts you enough to back you. This is your so-called guarantor. You know lots of people in your life – your family, close friends, work colleagues, etc. There’s almost certainly someone who trusts you – in fact there are probably many! And while your credit history may not be perfect your guarantor will see the bigger picture. Hence we call these unsecured loans with guarantors.

Who can act as your guarantor?

The criteria as to who is an acceptable guarantor are constantly changing. In fact the criteria are getting less and less stringent as time goes on. The general criteria are currently like this:

  • Are a UK homeowner (but see later!)
  • Are aged between 23 and 75
  • Have an income (pension, employment income, benefits) of £400 per month
  • Have a UK bank account with debit/credit card
  • Have a reasonably good credit history themselves

But what is happening is that lenders are looking at relaxing these criteria wherever possible. It’s the result of competition. For instance you can now get up to £1000 where your guarantor is a non homeowner. And we believe that this sum will increase as new lenders enter the market. So watch this space.

As you can see loans with guarantors are changing the face of unsecured lending and giving more borrowing options to those who have previously struggled to find credit.

 

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Same Day Guarantor Loans

August 2, 2012 Solution Loans No comments

Rapid changes of technology mean that it is now possible to get same day guarantor loans. So, within 24 hours of making your online application you could have up to £7500. Better still if you need no more than £500 then you can get the cash you need in only 1 hour!

Guarantor Loans in 1 to 24 Hours

Get your unsecured loan or cash in only 24 hours – truly “same day guarantor loans”!

Up to £500 in 1 Hour

These are just about the fastest cash loans around. And consider these facts:

  1. the cost of these cash loans is up to 60% less than a payday loan
  2. repayment terms are flexible – you don’t have to repay them on your next payday

These small cash loans need you to provide a guarantor but unlike their “big brother” loans below your guarantor can be a non-homeowner. So, you’re likely to have a wider variety of options open to you. Your non homeowner guarantor could live with their parents, rent their own property, live with another friend who is a homeowner, etc. And it is certainly not a problem if your guarantor is a homeowner.

Get up to £7500 within 24 Hours

For loans over £500 (all the way up to £7500) the application process takes slightly longer, and your guarantor must be a homeowner. But even in this instance you can get your unsecured loan within 24 hours. It will help significantly if you can line up your guarantor beforehand but if you can’t then don’t worry. You can come back to your application and complete it at a later date – the cash you need will have been kept aside for you.

Same Day Guarantor Loans

So, as you can see there are 2 main same day guarantor loans options:

  • smaller cash loans of up to £500 which you can get in up to 1 hour where the guarantor can be a non-homeowner or a homeowner
  • larger loans of up to £7500 which are available within 24 hours of your online application and where the guarantor must be a homeowner.
Full details of both these same day guarantor loans are available elsewhere on this website – see the links in the menu at the top of this page.
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Guarantor loans non homeowner – we can explain

July 30, 2012 Solution Loans No comments

Guarantor Loans Non Homeowner – Let’s Clarify Your Needs

If you searched the web for “guarantor loans non homeowner” then you are wanting one of two things:

  • You are a non homeowner who wants a guarantor loan, or…
  • You want a guarantor loan and want one where the guarantor does not have to be a homeowner.

We cover each of these situations below – simply scroll down to the one that applies to you and we can explain what’s on offer in each case.

Non homeowner guarantor loans

Are you a non homeowner wanting a guarantor loan? Do you want a loan where your guarantor is a non homeowner? Read on…

Non Homeowner who wants a Guarantor Loan

If you don’t own the property you live in (perhaps you live with your parents or friends, or rent your own place) then getting an unsecured loan could be a problem in the current economic climate. And it’s a particular problem if you have a credit problem, and this could be as simple as not yet having a credit history.

One of the major options open to you is guarantor loans non homeowner. Your guarantor could be a parent, friend or work colleague – someone who knows you well enough and feels that they can trust you to repay the loan.

We’ve plenty of information about these unsecured loans – you can borrow from £50 to £7500 and get the funds you need within 24 hours. For the larger loans you’ll need a guarantor who is a homeowner.

A Loan where the Guarantor is a Non Homeowner

If what you meant by “guarantor loans non homeowner” is getting an unsecured loan where your guarantor is a non homeowner then we can help. In this case you can get up to £500 and get it in as short a time as 1 hour. The entire application process can be done online, and it can be extremely fast if you have your guarantor lined up already.

We’d recommend that you get your guarantor organised as they’ll have to provide some information online. Not only is the process very fast but you’ll be getting cash at a much lower cost and on much more flexible terms that with a payday loan. Find out more here, but rest assured that this type of loan is rapidly growing in popularity.

So, hopefully we’ve clarified what you meant when you searched “guarantor loans non homeowner” – we’re sure that there’s a way we can help you.

 

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Guarantor Loans Direct Lenders

July 24, 2012 Solution Loans No comments

While other forms of lending are restricted or contracting it’s exciting to note that the number of guarantor loans direct lenders are increasing, and increasing at a fast rate. Such is the desire to find ways of removing the borrowing limits imposed by traditional high street banks that new lenders are stepping in to take their place.

Get straight to guarantor loan lenders direct

Our FREE online service means you get straight to guarantor loans direct lenders

Guarantor Loans Direct Lenders

If you want to get an unsecured loan and a guarantor loan looks like a route that could help you then how do you find the best guarantor loans direct lenders? The best way is to use a service like ours – our FREE enquiry service means that you complete just one online form AND then get instant answers from those lenders who feel that they will be able to lend to you. Simple!

Our online service works like this:

  • Spend 60 seconds completing the form
  • Hit the submit button and wait no more than 60 seconds – we’re contacting all the best guarantor loans direct lenders
  • Receive a summary of the lenders who say they can lend to you in principle
  • You can then choose to:
    • immediately continue with your application via your chosen lender, or
    • take time to review all the options available to you, and then return to your chosen lender to complete your application.

There’s certainly no obligation to follow through with any loan offer made to you. They are simply options you can consider.

Solution Loans – Financial Help at Hand

We specialise in finding credit for people who have credit problems of one form or another. Guarantor loans are one of these products. We’ve been working in the guarantor loans market since 2005 so you can rest assured that we know it inside out! If you need an unsecured loan and have been continually told “no” then you need to use our enquiry service to help you get what you need.

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