Apply Now

Increasing Your Chances Of Finding A Guarantor

This article is intended to explore a few ways in which a UK individual can increase their chances of finding a guarantor for a loan.

1/ You need to be in good standing with this person, so choose people who know you well & have only had good experiences with you & know you to be a trustworthy individual, trust is essential so don’t waste your time asking people who either don’t know you or don’t trust you.

2/ Provide visibility over your current financial situation, this can help you in a big way, because if people have an understanding over your situation, & it makes sense to them that they can trust in you & that the repayments can be made by yourself alone, then this will likely make people much more likely to trust you due to the fact that you have the means to honour the deal, and also for the fact that you have provided them with visibility over you financial situation.

3/ If it is someone you live with that you are asking to stand guarantor, show them that you can be responsible for your own finances by smart budgeting, let that individual see that you can manage money, this will increase their confidence in you, & that they can safely guarantee your loan and you will keep your end of the bargain by making the repayments each month.

4/ Have a good income. Might sound strange to some people, but fundamentally, if you have a good income, of course it makes you a much more viable borrower for all parties concerned, make your employment as solid as possible.

5/ Approach the question of “Will you stand guarantor on a loan for me?” with care, understand what it is that you are asking the person to do for you, give them time to think about it, for some people it’s not necessarily a quick decision, it can take some thinking about because it is not an agreement they can easily walk away from if something were to go unplanned

All in all, the best people to ask in general are family members, because these individuals are most likely to know you better than anyone from outside your family, however, there have been known to be much more unconventional people that have stood as a guarantor, with people’s bosses, boyfriends, girlfriends etc also having been available to undertake this responsibility, you might just be surprised where the help can come from.

Also, be polite! If you are in a particularly stressful situation, remember to keep your moods in check, however a small thing this sounds like, the way you come across to people can have a bearing on whether or not they wish to agree to a proposal you make for them, it is never a good thing to sound desperate, as this can be mis-read as “lack of responsibility”, overall what these people want to see is a calm, mature individual with a good nature who they can trust not to let them down & to uphold their end of the bargain.

Article Source: http://easyguarantorloans247.co.uk

A Boom in Guarantor Loan Applications In Jan & Feb 2014

There has been a marked increase in the number of guarantor loans applications in the first 2 months of the year, statistics have revealed.

There has been an 68% increase in the amount of applications submitted & a great deal more loans provided as a result of this influx of fresh applications submitted by the public, this website also has received a marked increase in enquirers since the turn of the year to 2014

More and more people are turning to guarantor loans as a financial solution in the event that they cannot procure credit through other means other than with a guarantor to “guarantee” the repayments for them so that they can move forward & get the cash that they need.

It is thought that the reason there have been so many more applications is mainly due to the Christmas period being one of the more expensive times of the financial year, due to the fact that many households have a tendency to over-commit themselves to the financial obligations of Christmas & some of the celebrations surrounding that time of year.

People are advised however, to consider the implications of taking out a loan to cover such costs, because one of the most cited issues by consumers in regards to not being able to make the repayments on small personal loans is the fact that people have miss-managed their finances from the very beginning & getting a loan does not necessarily mean that they will become sensible as a result of getting a loan.

This recent boom in applications means that more and more people in the United Kingdom will be receiving cash through guarantor finance arrangements, & this means there will be more & more people will be standing as a guarantor for financial arrangements, be it for their children, cousins, nephews, wives, or brothers or sisters.

Anyone being asked to stand as a guarantor for someones’ loan is advised to think things through properly before agreeing to such a responsibility, as if the person who is being given the loan, defaults on the repayments it can mean that the guarantor is subsequently chased up for the repayment balance.

Article Source: http://easyguarantorloans247.co.uk

 

Welcome To Guarantor Loans Access

This is Your One-stop Shop for Guarantor loans online, need a loan up to £10,000?

Simply Fill In Our Online Application Form (Above) & You Will Receive A Quick Decision.

What is a guarantor loan?

A Guarantor loan is an unsecured personal finance agreement that requires no credit checks, or wage slips or bank statements, all you must simply have is someone who trusts you enough to stand guarantor to your loan agreement, and this is sufficient to qualify.

Advantages:

  • Quick and easy means to procure credit
  • Ignores credit rating of the borrower (no credit checks)
  • Typically larger lending capacity as opposed to a payday loan
  • One of the only ways for many people with bad credit to gain finance
  • Helps to rebuild credit rating
  • Paid into your bank account within 48 hours of the loan being agreed

Disadvantages

  • Requires an individual to stand as guarantor

What is a guarantor?

The Guarantor is someone who, in the event that you cannot make the repayments on your loan agreement, will guarantee the balance by paying it on your behalf if you default on your monthly repayments.

It is a position of some responsibility and it is advised that all parties are made aware of what this means before submitting an application.

Who Can Stand as a guarantor for me?

There are no hard and fast rules about who can be a guarantor, however there are a few general guidelines, the person standing guarantor must be someone who has a monthly income, a decent credit history, and the means to pay repayments in the event the borrower cannot.

It is not 100% necessary but it helps if the guarantor is a homeowner, this is because it offers further security to the agreement because of the equity in the property.

How difficult is it to get this kind of loan?

Quite straightforward and simple, you may need to provide proof of income, also the person acting as guarantor will need to do this also.

There is no meeting or interview and in most cases no telephone contact, it is our initiative to make the process as quick and painless as possible for any applicants.

Once agreed the cash will be paid into your account within 48 hours.

Loans agreements like this are becoming more and more necessary in the light of the fact that there are so many people in the UK with a poor credit rating and that are unable to procure finance by more conventional means because their credit file reflects on them poorly for one reason or another.

It is advisable to exercise caution when entering into any loan agreement, as a default on the loan can cause the guarantor to be debited the cash in the event of any difficulty, clear communication is necessary between the lender and the borrow if the repayments cannot be met at any stage of the loan term.

It is easier to successfully apply to be a guarantor in the event that the person who will guarantee the loan, has a good credit rating and a regular source of income, this is because it is seen as a less of a risk to the lenders to borrow the money to the individual  because they have the means and the inclination to pay back the loan in the event that the borrower cannot make the repayments.

Guaranteed financial arrangements like this are becoming more commonplace due to the fact that many uk applicants do not qualify for more normal unsecured finance, many peoples’ credit ratings have fallen fowl of the recession and panic borrowing.

Panic borrowing can mean even things like getting a payday loan, these loan agreements have a notoriously high interest rate and can lead to financial problems in the event that the borrower can’t make a payment, and because the interest rate is so high, this has a snowball effect, meaning that the situation can often get worse and worse.

Having the loan guaranteed helps keep the interest rate down because of the lowered financial risk to the lender and this saving is passed on to the customer, so you can rest easy knowing that with a guarantor agreement you are getting an interest rate that reflects the risk of the finance being borrowed to you.

 

Is It Easy To Find A Guarantor?

Getting a guarantor depends on a number of different factors:

1/ Firstly do you know someone with a good credit rating?

It is essential that the person guaranteeing your loan has a good credit rating, this is because even though your credit file is not taken into account when applying for a guarantor loan, the credit rating of the person who is taking the liability is important  because this is used to assess the risk of allowing you the credit.

2/ Does the person with a good credit rating trust you to cover the repayments?

If not then this can be a problem because of the fact that if you do not make the repayments then the person who is guaranteeing the finance will have to make the repayments if you cannot. Trust is an important factor in this because if the guarantor does not trust you, they are unlikely to help you in getting this type of loan agreement.

3/ Do you have someone in mind who will help?

This can sometimes be difficult if you are in a situation where there are not many people that are suitable to help.There are a number of options around this in many cases, it can be your manager, your uncle, your auntie, grandparents, other relatives, spouse, brother, sister, literally everyone and anyone who has a good rating for credit and is prepared to help you procure the finance you need.

4/ Will the person in question guarantee the amount of finance that you need?

Some people will be more than willing to stand guarantor to a £1000 loan, however in the event that this is not enough and you need more, then you might have to convince them that it is absolutely necessary for you to procure the amount of credit that you have specified, and you might also have to convince them that you have the means and the opportunity to pay the repayments.

Guarantor loans the good option for people with bad credit

Guarantor loans is increasingly becoming a great option for people who have bad credit and cannot gain finance through the more conventional channels.

This kind of financial arrangement does not require a credit check like other means of procuring credit such as:

  • Conventional unsecured loans
  • Secured loans
  • Payday loans
  • Remortgages
  • and mortgages

This is because there is someone on hand to “guarantee” the agreement so that in the event of a default on the loan itself then the loan will be payed by the guarantor and thus the burden of risk is shared between the two parties as opposed to a conventional finance agreement.

People with bad credit very often have limited options when it comes to the the subject of getting a loan, so they are forced to seek out other methods of financing and an agreement with someone to guarantee the loan can be deemed as ideal for them, provided they have someone to guarantee the repayments.

Your credit file will not be taken into account in some form of vetting procedure as normal and making the repayments on time will actually be reported to the credit agencies and will be reflected well on your credit file, so it can be seen as a means to actually improve your credit rating for any future borrowing.

There are very few disadvantages to getting this particular financial product.

It has also been proven that in guarantor agreements that there has been a marked increase in the financial maturity of the clients, it helps educate the client in responsible money management and thus helps them get into a good mindset for managing money and preserving their wealth by taking care of their debts and resetting their perception of the value of money.

More information on this is available at this homepage of the website http://easyguarantorloans247.co.uk visit this page for more information

 

 

Guarantor Loans, “Becoming More Popular” In UK

According to certain sources in the financial sector, the number of applicants for loans with a guarantor are on the increase by 18% in the past 6 months.

It is widely thought that the reason for this is because of people’s credit ratings being the primary obstacle to acquiring finance.

In contrast to the popular payday loans, guarantor finance agreements do not actually take into account credit ratings of the applicant, so for people with bad credit, these types of loans can be ideal, and in fact the only means of gaining finance.

With the current financial climate being what it is, the increase in the number of applications for guarantor loans comes as no surprise to some people, as around 40% of all payday applications being upheld, this is a sure sign that there are a lot of people in the public domain with applications declined, mainly this will be due to the applicants’ credit file.

The market for guarantor finance is expected to grow even further in the coming 12 months as it appears to be an emerging market within the loans sector, gaining popularity as the ideal alternative for people that need to procure finance but cannot do so through regular means.

With the amount of guarantor financiers and guaranteed loans lenders on the increase year on year, it is very clear that there are more and more businesses that want to get into the market to serve the British public.

Usually it is possible to borrow up to £5000 which is perceived as another attractive factor by the general public as payday agreements usually only loan up to £1000 making it possible that the applicant needs more money than is available to borrow, causing them to seek other means of finance as opposed to the more conventional cash advance agreement.

For more information here is the homepage http://easyguarantorloans247.co.uk for further reading.