Sentences with phrase «guarantor loans»
Guarantor loans are loans where another person, known as the guarantor, promises to repay the loan if the borrower cannot. It provides extra security for the lender, making it easier for people with bad credit history or no credit to get approved for a loan. Full definition
Good APRs for guarantor loans tend to hover around the 49.5 % APR rate.
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Some companies offer special deals for those with poor credit history such as guarantor loans so don't worry as there are still options available to you.
Lending can start from a few hundred pounds up to # 25,000, but most guarantor loans tend to be worth a few thousand pounds.
Complete the Oink Money application form and let Monevo find the best guarantor loans available to you.
Some lenders specialise exclusively in guarantor loans so it's worth shopping around for the best loan deal.
No - Guarantor loans often involve a lot of paperwork and possible face - to - face meetings, which isn't ideal if you need cash fast.
In the case of guarantor loans, you must find a suitable guarantor who will vouch for your ability to keep up repayments.
Your chances of being approved may be higher with guarantor loans, but no guarantor borrowings are simpler.
If this is a concern, a low - interest guarantor loan could be a better option.
Guarantor loan lenders will often agree to lend you more money for more time as they know they will definitely get the assets back either way.
Author Bio: Hugh Tyzack is the founder and Managing Director of no fee Guarantor Loans specialists GBP Loans.
People who applied for guarantor loans may even have been unable to build up a credit rating with the help of mortgages and credit cards, especially if they were young and yet to get a foot on the economic ladder.
As guarantor loans are often the only loan option for people with bad credit, you need to make sure that you aren't asking someone to take on too much risk for you.
Guarantor loans often have lower interest rates than payday loans so they can help you save more money in the long run (as long as you make your repayments).
Someone told me that we could use an officer of the company to guarantor a loan for the LLC, and not use my bosses name or info.
You can apply for a guarantor loan right here at Oink Money.
Guarantor loans are also popular amongst young professionals who are early on in their careers, as they haven't had time to build up a personal credit history.
Guarantor loans are great for people with a bad credit history, or no credit history to date, and they have become increasingly popular over the last few years.
The online application process consists of three simple steps, designed to save you time searching the internet for the best deal on popular types of loan including Short Term, Personal and Guarantor Loans.
If you manage your repayments well, you may even be able to use your guarantor loan to build up a good personal credit score — meaning you could eventually get a mainstream loan.
Use Oink Money and Monevo to apply for a guarantor loan today.
However, it is now possible for these (and others) to get a guarantor loan which is a loan that another person guarantees will get paid.
Other types of loan include secured loans (secured against an asset such as a house or car), guarantor loans (where a third party will «guarantee» to pay back the interest on your loan should you fail to repay) and personal loans (offered by banks and ranging from # 5000 to # 25,000).
But no guarantor loans tend to be shorter term and for smaller amounts.
Consequently, a no guarantor loan is one which does not require such a back - up.
No guarantor loans mean you don't have to rely on somebody else to prove you are a worthy investment, so can be quicker and safer to obtain.
The best no guarantor loans will have low APR and interest, as well as allowing you to pay back the money sooner if you can.
It is often more expensive to obtain a no guarantor loan that a guarantor loan as there is a higher risk for the lender.
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When you apply for a guarantor loan on behalf of someone else you're agreeing to make any payments towards that debt should the person fall behind or be unable to pay.
If you do have a poor credit rating, consider a credit building card, or even a guarantor loan.
guarantor loans