We have an agreement with UK lenders who are willing to lend you the cash you need if you can answer yes to the questions below.
- Are you employed (full time, part time or self-employed)?
- Are you resident in the UK?
- Are you aged 18 or older?
- Do you have a guarantor (homeowner with good credit)?
- Do you need to borrow between £500- £5,000?
- We can access alternative financial solutions if you cannot get a loan!
Representative APR 49.9% variable
Representative Example: Borrowing £3000 over 36 months, repaying £146.37 per month, total repayable £5269.32. Representative 49.9% APR (variable)
What are Guarantor Loans?
Guarantor loans are quite simply loans that are decided upon based on the guarantor's details. Because of this, it does not matter how bad the applicant’s credit history is. He can still qualify for a loan, as long as he is not in an IVA or registered as bankrupt. All that is required is a suitable guarantor who will agree to co-sign the loan agreement for you, and guarantee to meet the repayments should you not do so for any reason. In order to qualify as a guarantor your candidate will need to be:-
- Aged between 23 and 70.
- A homeowner.
- Financially stable with a good credit record.
- Earning at least £800 per month (from any source) to justify the loan repayments.
- Permanently resident in the UK.
Provided you are able to come up with a guarantor and answer yes to the five questions listed above then you are almost guaranteed to get approved for a loan of up to £3,000. The loans are available for terms from 12 months to 60 months and, you are free to repay the loan at any time without penalty. Because the lenders will report any payments that you make to the major credit bureau's, taking out a loan of this kind and keeping up with the repayments can also help to improve your credit rating.
A guarantor loan is essentially an unsecured loan but with a twist i.e. the lender does not have a charge on your property. However, the lender does have the security of having a guarantor endorse the loan for you. This means that if you do not repay the loan the lender will seek repayment from your guarantor.
Loans Guaranteed By Your Guarantor
Because of the fact that the lenders have the added security of your loan being guaranteed by a suitable guarantor, the lenders have more flexibility as to who they can lend to. They are usually paid out within 5-7 days if you post all your documents to the lender. This time can be reduced by a couple of days if you can upload the documents online. So no matter what your credit history or residential status InterFinancial may well be able to help you arrange the loan that you need, without any obligation or up front fees. Click the "Apply Now" image below and submit your details using our form, you never know you could have your loan before you know it!