PD Institute

Guarantor Loans Explained - Guarantor Loan Information
Free Guarantor Loans Information & Guide.

What are Guarantor Loans?

A guarantor loan means that someone else will be guaranteeing to the lenders that the loan will be repaid which is why it is called a guarantor loan. A guarantor loan is a type of unsecured loan that is usually repayable over a relatively short period of time. A guarantor is someone who agrees to pay the loan back, if the borrower can't. Usually a guarantor needs to be a homeowner, aged 18-70, who hasn’t had trouble paying back bills in the past and can afford to repay the loan if the borrower can’t. Most people use a friend or family member but you can use anyone from a landlord to a colleague.

Who are Guarantor Loans suitable for?

Guarantor loans are loans provided to people who might not be accepted for a loan elsewhere. Some reasons why a person might not be accepted for a loan could be someone who is self employed, works part time, on a low income or unemployed, students, those who are too young to be consider by a bank or other lenders and tenants who have no home to offer as security. A bad or poor credit history can also stop you from getting the loan you want and there are thousands of people who are turned down for loans everyday because of a credit score. However, this is where guarantor loans come in. Guarantor loans are specifically designed for people with a less than perfect credit history. Guarantor loans can be a means of enabling individuals to start rebuilding their credit histories by demonstrating that they are responsible borrowers.

Amigo Guarantor Loans

To get Amigo Guarantor Loans there are no credit checks and they can get your loan paid out as quickly as possible. You can borrow between £500 and £5000 over a one to five year period. They do not charge for late payments, phone calls or letters and there are no early settlement charges or fees. They calculate interest daily, so if you clear your loan early, you only have to pay interest for the time that you've had the loan. That way the quicker you pay them back, the cheaper your loan is. With Amigo you will have an online account where you can manage your loan. They have joined up with PayPoint so you can pay cash at over 23,000 stores and they have a 24 hour payment line so you can call them whenever you want.

Solution Guarantor Loans

Apply online and you will receive an immediate decision on your application with Solution Guarantor Loans. There are no upfront fees and you can enquire at no cost and at no risk. Even if you have been refused by other lenders Solution Guarantor Loans has helped a wide range of people to get a loan. Anyone can apply for a loan - you just need to provide a guarantor. They take loan applications from people who would be turned down by traditional lenders - e.g. self employed, people on benefits, private or council tenants, and anyone with CCJs, defaults or other credit problems. They work with a select group of lenders who are able to say "Yes" where others say "No". Solution Guarantor Loans have flexible loan periods so you simply repay as soon as you can and there are no early repayment penalties. Interest is charged on a daily basis so you only pay interest for the actual period you use the cash. Funds can be available within 1 hour of acceptance!

Guarantor Loans Online

Guarantor Loans Online offer loans from £1000 to £5000. You can rely on fixed interest rates, no upfront fees and you can get a loan whatever your credit history. Guarantor Loans Online is a specialist guarantor lender in the UK offering easy access to finance for both tenants and homeowners. Their loans are especially designed for people turned down by mainstream lenders; but anyone can apply, whether you have bad credit, good credit or even no credit history at all. Their loan process is quick and easy and allows you to get the funding you require without having to deal with unfair broker fees and extravagant interest rates.