The time when you face a money crisis can be predictable or unpredictable. In both situations, you need to know how to manage the condition by arranging sufficient funds. As the first and usual solution, you look for available funds in your savings. But sometimes, even that is not sufficient.
You can apply for a loan, but in case of a financial weakness like poor credit or lower income, you need additional support. If you are a homeowner, you may use it as collateral. But if you are not, then guarantor loans for non-homeowners come as a realistic and rational solution.
These are the instant approval decision loans that include a guarantor. You can fulfil short-term and long-term financial requirements. With the presence of a third party, you can avail of a larger amount at a lower rate of interest.
At 24loanswales, we provide non-homeowner guarantor loans through personalised deals. With the joint repayment capacity of you and the guarantor, you get an affordable deal. Besides, you can borrow for any purpose as the funds provided are for your personal use. Apply now
The non-homeowner guarantor loans are personal loans available to fund seekers who do not own a house. They can bring a guarantor, who also can be a non-homeowner. Both the primary borrower and the guarantor join their credit purchase power.
The borrower can borrow an amount as per the joint repayment capacity. Besides, as the role of guarantor denotes, in case of default from your side, the guarantor is liable for repayments. These are also known as tenant guarantor loans, which means your guarantor, too, can be a non-homeowner.
Therefore, the loans that let you borrow money without any obligation of homeownership but with a guarantor are guarantor non-homeowner loans.
Loan with a guarantor non-homeowner provides you a minimum and maximum limit of £1000 to £10,000. You can obtain any amount, but that depends on your credit purchase power.
Several factors combine to decide how much you can borrow. These are
Apart from these, the interest rates have a direct influence on the loan amount. A higher interest rate means bigger loan instalments, which means qualifying for a bigger amount can be a challenge. On the other hand, a lower rate of interest means you can borrow a larger amount.
We ensure you get the maximum amount through the customisation of loan offers. Call us now and let us know how much amount you can borrow.
Non-homeowner guarantor loans on same-day payout are popular due to their several benefits. Let’s see how they can give you an advantage if you choose to borrow with a guarantor.
You follow a simple procedure to apply for guarantor loans without a homeowner. It is a 100% online procedure that takes a short time to process funds. Let’s see how the application process works.
Documents required applying for loan
BORROWER - Recent 6-month bank statement, income proof of same duration, verified address, consent to lender for credit check.
GUARANTOR -Income proof, verified bank statement of recent months, home address, consent for credit check.
NOTE - The guarantor fills a different form online that identifies the role of a guarantor
Finally you can use the loan funds for your purpose. There is no limitation on the use of money for any specific reason.
Yes, if you prove financial stability to repay borrowed money, you can get homeowners loans for bad credit. Already in these loans, the guarantor is part of the loan process. With two persons combining their financial capacity to repay funds, it is certainly possible to borrow with bad credit.
In fact, you can borrow a large amount at a lower rate. You and your guarantor are liable equally. Therefore, the lender has no insecurity of pending payments or default. Neither the borrower nor the guarantor wants to experience a low credit score.
With the advent of new-aged online lending, credit score is no longer a decisive factor. If you can show a stable income and capacity to repay funds, you can get a loan despite bad credit. As a reliable private lender, we follow a liberal approach that creates a borrower-friendly approach.
You can provide us with the responsibility of serving your financial purposes if you are looking for non-homeowner guarantor loans from direct lenders. You can depend on us for future financial requirements and many other reasons.
You need money for multiple requirements. As a result, the first response is to depend on your personal savings. But it may not be wise to empty your savings for recurring, predictable, or unpredictable needs. Instead, apply for our loans and keep your savings intact.
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
The entire procedure of a non-homeowner guaranteed loan is done online. You have to fill out an application form online in which all the financial details of you and the guarantor are mentioned. On submitting this online form, you get an instant approval decision. You get approval on a specific loan amount according to your borrowing capacity. Along with this, you receive a loan agreement. As soon as you people give your consent to the agreement, the funds are deposited in your account.
For the smooth approval of non-homeowner guarantor loans, you need to fulfil several attainable conditions.
You can get a loan with bad credit, but not without a credit check. For any loan process, a credit check is a vital process. You cannot skip it. The reason is, credit check lets the lenders know about your financial history. Therefore, no credit check is not possible at all. You need to go through the proper process.
You can borrow between £1000 to £10,000. It all depends on your payback capacity. The higher your financial ability, the bigger the amount you can borrow. However, in non-homeowner guarantor loans, you have a guarantor too to qualify for a big amount.