Guarantor Loans is where you can get a personal loan between £1,000 to £10,000, and pay it back over a time period you can afford. You can pay your loan back in 12 months or up to 60 months! It's lending the old fashioned way of trust and knowing someone can and will repay a loan, not based on your credit history or if you own property.
QUICK APPROVAL and the money in your bank account fast. Sometimes within 24 hours.
A guarantor is someone who trusts you and provides the assurance to us that you will pay your loan back as agreed. This typically could be a family member, a work colleague, or a good friend but who understands your circumstances and wants to help you out.
We always advise that its best to discuss your application with your proposed guarantor to ensure that they understand the loan you are applying for and that they are comfortable supporting your application. That doesn't mean you have to discuss your personal circumstances in intricate detail but we've found that where a proposed guarantor understands the circumstances they are better placed to help you.
Your guarantor must also understand that should you fail to make your payment for any reason, then they may become liable to ensure it is made on your behalf. We will of course talk to them first about any missed payment but in the event we cannot make a reasonable arrangement with you to bring your account up to date then they may be expected to on your behalf. As part of your application, your guarantor will go through the same sorts of checks that we do with you to ensure that the loan is affordable on both of your parts and that we are lending to either of you which puts you in a difficult situation.
Once you have completed your loan application, one of our team will give you and your guarantor a call to talk you through your income and expenditure to ensure that your loan is appropriate and affordable. Don't worry we don't do this with both of you at the same time and we'll do it at a time convenient to you.
After we've ticked all our boxes and done all our checks your loan will be approved and we'll get it paid out; we'll either pay off any creditors you may have if that's the reason for your loan otherwise the funds will be sent over to your Guarantor the same day to pass on to you.
You can select your regular monthly repayment date for the term of the loan which you can also change at any point in the loan to ensure its convenient to you; we'll collect these payments each month via direct debit from your bank account.
Simple as that!
Minimum period for repayment: 12 months | Maximum period for repayment: 60 months | Minimum APR 49.8% | Maximum APR 49.9%
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