What is a guarantor Loan?
A simple solution to loan problems, with that all important personal touch.
These days, many ordinary people find it difficult to obtain a loan for the things they need in life – those unexpected costs that hit all of us from time to time. Many are turned away by banks and other traditional lenders because their credit record is blemished, or non-existent. The alternatives – payday loans and the like – come with high interest rates and charges. Happily, there is a simple solution.
A Guarantor Loan is a loan where you are someone who trusts you, normally a friend or family member, to act as a Guarantor for your Loan.
These loans have become more popular and more mainstream over the past years as more people have moved away from expensive short term loans. The loans rely on a guarantor who normally has a good income and sometimes owns a property to support the loan application