How a Guarantor Loans works
Traditional unsecured loans or personal loans are provided on terms that depend on the applicant's personal financial circumstances. Lenders will base their decision to lend upon the applicant's credit history and/or will use computerised credit scoring techniques to make their decision.
A Guarantor Loan Puts You In Control
A Guarantor Loan changes the rules and put you in control - we believe that even if you have had credit issues in the past that you should be able to get credit now. With an unsecured guarantor loan our lenders will very likely offer you an unsecured loan if you can provide a guarantor for the loan - that is a person who is prepared to guarantee the loan repayments should you default on those payments yourself.
No one is likely to act as a guarantor unless they believe that you will repay the loan 100%. This is why your guarantor is likely to be a parent, family member or very close personal friend - they will know you better than a computerised score ever could! Because you provide a guarantor you do not need to be credit checked and the lenders do not base their lending decison on a computerised credit score. These are no credit check loans.
Detailed questions? Please see our Guarantor Loan FAQ page or go to our Guarantor Loan Blog for more comments or to ask questions
Who can apply for a Guarantor Loan?
Anyone can apply for a guarantor loan - a very wide variety of personal situations can be helped - but you will need to provide a guarantor. We can help people who would ordinarily be turned down by standard lenders - e.g. private or council tenants, self employed, people on benefits, and anyone with CCJs, defaults or other credit history problems.
View the General Lending Criteria
What is the Guarantor Loan Application Process?
Complete the simple, secure and fast online form. You will get an immediate decision in principle. Our specialist lenders will then email and post to you (first class) the free guarantor loan information pack and offer documentation that you and your guarantor need to complete - this has been greatly simplified recently. You may receive loan offers from different lenders in which case you can compare and decide which one suits you best.
The posted documents will be with you 2-3 working days after you've enquired. The money you have requested will have be put aside for you ready to be paid out. Get your guarantor to complete the simple paperwork. As soon as lender receives your signed guarantor loan paperwork they will process it and an assigned personal caseworker will contact you. The lender aims to payout the loan within 24 hours of processing your signed paperwork.
Apply Now for a Guarantor Loan
Boost Your Credit Rating with a Guarantor Loan!
If your credit history is poor then successful repayment of your guarantor loan will mean you also improve your credit rating for the future. This could mean you get better access to funds at better rates next time.
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