When a money crisis creates chaos in your life, it is vital to have sufficient funds. A medical emergency, car repair, home repair, unexpected expenses, or any situation can take shape. 100% guaranteed loans may become your support during tough financial times.
These loans offer guaranteed approval on any loan amount you can afford to repay. The more you can prove your credit purchase power, the bigger the loan amount. All work is done in the capacity of either a guarantor or your personal credit purchase power.
At 24loanswales, we provide the affordable loans with guaranteed approval. Whatever your credit score status, as long as you have a regular income, we can approve your application. Apply now and get funds for all requirements without any mention of purpose…
A guaranteed loan is a loan type in the category that belongs to both long-term and short-term funding. When you borrow funds from a guarantor, these loans let you provide a bigger loan amount.
When you borrow funds showing a solid repayment capacity, it becomes a short-term loan. In the latter case, your repayment capacity guarantees timely instalment payments.
With a maximum borrowing limit of £10,000, you can borrow the amount that you can pay off. Guaranteed loans have no collateral obligation. The loans are accessible to all borrowers irrespective of credit rating. Lower interest is assured through individualised deals. Due to rational eligibility conditions, you get precisely the amount you can pay back.
The loans have no prepayment penalty. However, different lenders have different conditions on this aspect. There is a speedy online process, and fund deposit happens through online transactions. The repayments are taken through auto debit.
Approval comes instant but only after detailed verification of the borrower’s finances. As there is no constraint of purpose, you can also call these loans guaranteed personal loans. All across the UK, these loans prove supportive in the ups and downs of your financial life.
Key features of guaranteed loans
No, the loans on guaranteed approval do not demand collateral. The loan product does not include any obligation. Approval decision is entirely based on the financial ability of the borrower. Besides, not every borrower can afford to pledge assets. However, we offer a choice to borrowers with weaker repayment capacity or need of a bigger loan amount. If they want, they can provide collateral to get a considerable loan amount or borrow at a lower rate of interest.
Borrowers get the choice to provide collateral in the following conditions -
Guaranteed loans are comparatively cheaper than unsecured loans. Whether it is interest rate, annual percentage rate or monthly instalment, guaranteed loans prove less costly than their unsecured counterpart. Comparison below will help understand better.
| Guaranteed loans | Unsecured loans |
|---|---|
| Come with a lower interest rate due to customised deals. Also, you can add guarantor or collateral on choice that ensures affordable deal. | These come with a higher interest rate. There is nothing to compensate the risk such as collateral. However, personalised deals help make the deal affordable. |
| Soft or no credit check is available. Hence, borrowers applying for a smaller amount can get funds at a lower rate of interest. Having a strong repayment capacity with regular income is sufficient to borrow money. | It includes a complete credit check, which reveals everything in the past of the applicant. This may cause a higher interest rate, especially for borrowers with poor credit history. |
| The APR ranges from 6% to 36%, as per the credit profile of the borrower. | APR is 29% to 39%, as per the credit score and financial capacity of the applicant. |
Guaranteed loans, also known as guaranteed acceptance loans, offer many benefits. The loans support you during the ups and downs of your finances. This gives you mental peace. Let us know the pros of these loans for the borrowers.
TIPS TO GET FASTER APPROVAL ON GUARANTEED LOANS
The application process for guaranteed loans from a direct lender differs depending on the type of guarantee you provide during the loan process. Applying with a guarantor includes different circumstances. On the other hand, applying on your repayment capacity has different circumstances.
Application process with a guarantor
Application process with a strong repayment capacity
Yes, it is quite easy to get these loans in bad credit situations. You either provide a guarantor or have a very strong repayment capacity. In both situations, the lender commits timely repayments. Due to this, the bad credit situation is not a decisive factor.
However, by submitting some financial details, you have to prove that you have maintained your financial stability. For example, your bank statement for the past 6 months is an important document. This bank statement should prove that you are paying other debts and obligations.
Apart from this, it is also necessary to have proof of regular income. With the combination of all these factors, getting guaranteed loans for bad credit from a direct lender is possible. You can borrow the desired amount. However, you may get the loan at a slightly higher interest rate. Due to this, your monthly instalments may be a little bigger. However, due to personalised deals, repayment is always affordable.
Can a guarantor improve my chances of loan approval in the UK?
Applying with a guarantor improves not only your approval chances but brings several benefits, too. Also, you need to know about some facts.
No, it is not possible to get guaranteed loans with no credit check. Even if you provide a guarantor or you have strong financial stability, a credit check is necessary. Without this, no lender will give you a loan.
Through a credit check, we get to know your credit purchasing power. Based on that, we can know how successfully you are managing your finances in totality. If you want a credit check, it is possible only if you need a loan quote.
When you only want to know the approximate cost of a loan through a quote, no credit check is needed. But if you want to obtain funds, you have to give consent for a proper credit check. After a credit check, it becomes easy to study your finances in detail. Due to this, you get a better loan deal.
Therefore, if you read about the guaranteed loan approval with no credit check from a direct lender, understand the actual meaning. It only allows you to get a loan quote without credit check. But for actually borrowing funds, a detailed scrutiny of your finances is a must.
For many reasons, you can choose us if you are looking for guaranteed approval loans from a direct lender. We are known for our borrower-friendly loan offers. Therefore, you, too, can trust us for a hassle-free borrowing experience.
A guaranteed loan is a promising option because of its flexibility. From getting instant funds to getting loans for bad credit situations, you get funds when you actually need them. You can borrow a greater amount at a lower rate through a guarantor. Otherwise, you can also raise funds by using a solid capacity to afford a loan. It is a win-win situation for a borrower. Therefore, if you are looking forward to borrowing funds for any long-term or short-term financial requirement, apply here.
Representative Example
Loan of £4,000 repayable over 12 months at an interest rate of 45.3% pa (fixed). Monthly repayment of £420.66. Total amount payable £5,047.96
Warning: Late payment can cause you serious money problems. For help, go to: moneyadviceservice.org.uk
It takes a maximum of 24 hours to get a guaranteed loan. However, for that, you need to provide all details accurately. Instant approval decisions and speedy fund deposits help us send you money on time. The complete loan process is digitised, which takes only a few minutes. In case you add a guarantor, we do online verification of both the applicant and the guarantor. But the overall process is speedy due to digitisation.
Yes, irrespective of your employment status, getting a guaranteed loan in the UK is possible. You need to submit the provable earning proof of the last six months. Along with that, your bank statement too is essential. Providing the basic financial details and having a repayment capacity are sufficient to borrow money. Self-employed, employed, freelancer, part-time worker, anyone can apply.
Guarantor loans are different from guaranteed loans. The guarantor loans are those that make it vital for you to provide a guarantor. On the other hand, guaranteed loans are those that give a guarantee of approval on strong repayment capacity. Guaranteed payday loans do not need a guarantor.
You can borrow a maximum of Pound 10,000 depending on your credit purchase power. These loans have affordable instalments, but you need to have a strong repayment capacity. Only then the approval is guaranteed. If you want approval, you need to show that you are financially stable to handle the debt.
The usual repayment term is 6 months to 7 years. However, this may differ as per the lender's policies. Also, the borrower qualifies for a specific tenure as per the repayment capacity. Hence, if you are applying for these loans and want to get a desirable loan tenure, make sure you have a strong repayment capacity.
Yes, we do take applications with previous rejection history. However, it is essential to know several factors in such cases. Rejection should not be recent. Also, you should have worked on the reason for rejection. For example, if bad credit was the reason, pay bills on time and apply again. That way, you can even get guaranteed payday loans for bad credit people.
Yes, you can. The loans have no constraint on the purpose of funds you borrow. It only commits guaranteed approval on loan. It is totally your choice whether you want to use the money for personal or business purposes. This is why these loans are quite popular among borrowers with different financial requirements.
You need guaranteed payday loans for multiple reasons. You can apply for funds in a bad credit situation when no mainstream lender approves your funds. Besides, if you need funds urgently, you need to have dependable sources of funds.