Guarantor loans are an unsecured loan where you will need a guarantor to cosign the agreement. When applying for a Guarantor Loan online, You will need to demonstrate that you are able to afford the loan repayments. The APR will reconfirmed by the lender before payment is made.
You must nominate a Guarantor for your loan when you apply online who will be required to make monthly repayments, if you fail to do so. For the reason the guarantor will also be required to prove the loan repayments are affordable.
Guarantors are generally friends, parents and / or family members. As long as the guarantor trusts you and isn't financially responsible or financially dependent on you. The guarantor needs to qualify as follows:
If you have any queries about who can act as a guarantor for your guarantor loan, the lender will be able to assist you with any information you need once the initial application has been made.
Our secure online application takes only a few minutes to complete. We do not charge 'Fees' on completed loans.
If you are thinking of consolidating existing borrowing into a guarantor loan you should be aware, even a low APR guarantor loan may not be the correct solution for you. By extending the term of the debt and increasing the total amount payable you maybe increasing your monthly repayments.
Missed loan repayments may make obtaining credit more difficult in the future. Experian may offer more advice explaining what lenders can see on your credit report.
If you would like expert debt management advise contact StepChange Debt charity.
48 Monthly Repayments, borrowing £2000
Total Amount Payable: £4067,04
48.9% APR Representative
Rate of Interest 25.84% Fixed Flat Rate
Monthly Repayment: £84.73