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Guarantor Loans For The Self-Employed

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The trend for being self-employed in the United Kingdom is on the up and it is easy to see why. Many people only make a big decision when they feel pressurised into doing so or when they have no other option. When you face a big financial decision, some people will see a crisis whereas other people will see an opportunity and this is definitely something that leads to more and more people deciding that being self-employed is the right option for them.

This is why you should think about your own life and your own career. If you aren’t happy or you aren’t finding something that is right for you, are you in a position where you can take control of your life by stepping out by yourself? If you can, you should at least weigh up your options but you shouldn’t be fooled into thinking that things are going to be simple. Self-employed people can find it tough for many reasons.

guarantor loans for the self-employed

There is a lot of pressure involved with being self-employed and a lot of people are unable to take that sort of commitment or responsibility. Some people can and some people cannot and if you are the sort of person that cannot take the responsibility, don’t worry about it, it is something that a lot of people struggle with. However, you should at least be aware of the difficulties that you face and weigh up whether you should press on with your plans.

Many people also find it difficult to obtain funding and this is another thing that you need to think about.

Finding funding while being self-employed can be tough

When it comes to finding guarantor loans for the self-employed, you will find that there are a number of options. This is because the most important issue for most guarantor loan companies is that you have a regular monthly income, not where the money comes from. When you call on companies like SUCO Loans, you will find that they take the time to check that you have a regular income and that you can make payments on a regular basis.

If you can, you are well on your way to being accepted for a guarantor loan. This isn’t the only criteria you need to pass so you shouldn’t think that merely being self-employed is your path to obtaining a loan but it shouldn’t be seen as a barrier, which is definitely good news for a lot of people.

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Guarantor Loans

A Representative Example

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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