Benefits & Help
- Beat your credit problem
- Help rebuild your credit rating
- Lower cost than alternatives
- Affordable repayments
- Loans are unsecured
Do you need finance but are struggling to get it because of a bad credit history? Guarantor loans offer an alternative to traditional unsecured lending that makes it easier for anyone with either a poor credit rating or no credit history to borrow.
Simple to apply for and flexible to use, this type of finance provides an option where there may not be any others and gives anyone looking for cash the opportunity to access it. If you’ve struggled to get accepted by high street banks and the usual lenders a guarantor loan could be what you’re looking for.
If your credit applications keep being rejected you may assume that your borrowing options are limited. There are a range of bad credit unsecured loans available but not all of them offer particularly good terms and conditions or flexibility when it comes to getting the support that you want.
A guarantor loan is often a better choice than many of the other bad credit unsecured loans available. You’re not only likely to pay less for what you borrow but you could enjoy better terms too. And this type of finance is definitely a much better alternative to loan sharks or other illegal lenders, as it is properly structured and regulated and reputable lenders are involved.
Many of the usual borrowing options require a borrower to have either good credit history or an asset that the loan can be secured against. Secured loans, for example, can be a good option if your financial history is a bit patchy. However, they require the applicant to own a property with a mortgage in order to be eligible. Logbook loans are also an option but are only available to those who own their vehicle (which excludes those whose cars, vans, etc are on certain types of finance).
Guarantor loans, on the other hand, are accessible even if you don’t have an asset such as a house or a car. Rather than requiring an asset to secure the borrowing against, the security of a third person (the guarantor) is used to convince the lender to enter into an agreement with you. All you need to have to apply for a guarantor loan is someone who will agree to back your application so that if you’re not able to cover the repayments yourself, the lender still gets their money back. That person can be anyone – preferably someone you know and trust and someone who fits the minimum criteria:
If you’re struggling to get finance now then it may be difficult to see how this situation will ever improve in the future. Guarantor loans can help here too. One of the simplest ways to improve your current credit history is to start writing a new one - to dilute away old bad news with new good news. But this can feel virtually impossible to do if you’re constantly being denied credit.
With a guarantor loan you’ll be able to start making progress on amending your credit score with finance that you can borrow and repay on time. This will not only mean that you now have the money that you need but also that your credit history shows cash has been borrowed and repaid without any issues.
Over time, as you demonstrate a more positive credit behaviour, you’ll be able to access better deals at lower interest rates etc and have many more choices when it comes to borrowing. A guarantor loan that you repay in full and on time when each payment is due can help you today to start correcting past poor performance.
When it comes to getting you your guarantor loan our online service is second to none. In fact Solution-Loans.co.uk has scored based on 198 ratings & 31 user reviews for its guarantor loans service.
Used our website? Write your review now.