- What are Guarantor Loans
- How to Avail Guarantor Loans
- Apply Today
What Are Guarantor Loans
Guarantor loans, as the name implies, are unsecured personal loans that require a guarantor to guarantee a borrower's repayments in order to get approved. Typical guarantor loans require guarantors to be homeowners or mortgage payers in the UK. Unfortunately, it's not always easy to find an eligible guarantor.
Because of that, lenders such as Gender Loans decided to bridge the gap by offering non guarantor homeowners loans. Just like traditional guarantor loans, this type of loans offer flexible loan amounts and terms. You can borrow between £50 and £5,000 at repayment periods starting from one month to 36 months. In terms of cost, the average Representative APR for guarantor loans is 50%. It can be higher or lower and it can be fixed or variable. Either way, guarantor loans are one of the less expensive unsecured personal loans in the market today for people with bad credit.
If you want to know more about guarantor loans, Independent Co UK has more useful information for you.
How To Avail Guarantor Loans
To avail of Gender Loans' non-homeowner guarantor loans, make sure you meet the basic requirements. For borrowers, you must be of legal age (18 years or older) and a resident of UK. You are also required to provide proof of income and you must have an active bank account in the UK.
For guarantors, he or she must be 21 years old or older, a resident in the UK and has good credit. The guarantor doesn't have to be a homeowner or a mortgage payer but he or she needs to provide proof of steady income to be qualified. You guarantor can be anyone from a family to a friend or even a colleague. As long as he or she is not linked to you financially, the person is welcome to guarantee your repayments.
If you're ready to avail of Gender Loans' quick cash solutions to today's most common financial emergencies, simply follow our simple application process. First, fill out our online application form which will take you seconds to complete. Submit your requirements especially your guarantor information. We will assess your financial circumstance as well as credit check your guarantor. We will confirm your eligibility and approve your loan application. Once approval is confirmed, you can expect to receive the money through your bank account within 24 hours or less.
At Gender Loans, there's no more excuse why you can't get approved for a guarantor loan. As long as you have a non-homeowner guarantor who can provide proof of steady of income, you are welcome to apply.