Different Types of Loans

There are different types of loans available to people seeking financial assistance. The loans can be categorized based on various criteria and factors. One way of categorizing loans is based on their duration. Based on this classification criteria there are short term, medium term loans and long term loans. Short term loans have a brief maturity date usually ranging from a couple of days,...

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Guarantor Loans – What To Look Out For

Taking out a guarantor loan is becoming a popular option for those who suffer with bad credit scores. Assigning a willing friend or family member as a guarantor for a loan in your own name, assures lenders that the debt will be paid off by the guarantor in the event of a default. This allows them to offer lower interest rates in return for that security. For anyone thinking of applying for...

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Payday Loans Vs Guarantor Loans

Payday loan companies have been quick to flourish in the recent financial climate. But unfair fees and high interest rates have attracted a lot of criticism. Although payday loan companies have recently promised to be more transparent about their fees and charges, it is wise to remain wary. But what alternatives are out there out there if you need a short term loan to tide you over until...

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A Quick Guide to Loans

Taking out a loan can be a confusing business. There are a huge amount of loan products out there, so deciding on the right loan for you can take some time. When deciding on any loan, the general rule of thumb is to always look at the terms. The APR rate, repayment time, monthly payment instalments, interest rates and hidden charges all need to be taken into account. Types of Loan Personal...

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Guarantor Lending

As banks tighten up on lending, guarantor loans have evolved to fill a gap in the lending market. Especially beneficial for those with a bad credit score, guarantor lending enables those with a poor credit history to take out a short term loan. The security offered by having a third party guarantee a loan, takes the risk out of lending should the borrower default on their re-payments. This...

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Why guarantor loans are the new big thing

There are a range of perspectives as to why guarantor loans have gained in popularity. Some may say that it is down to a weakening economy, a time of recession, and the need for banks to compete for borrower confidence. The needs driving the guarantor loans trend are basically two-fold: Lenders are required to deliver responsible long and short term lending practices, including loan...

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Guarantor loans vs payday loans

There is a distinct difference between guarantor loans and payday loans, the obvious one being that guarantor loans require a credible guarantor, a person who financially vouches for whoever is taking out the loan. Payday loans, on the other hand, are secured on the borrower's next income payment. Although both are forms of short-term loans, other variations also apply. The key differences...

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Guarantor loans can help you get out of the debt trap

Individuals with poor credit histories, credit ratings and scores, may find it a challenge to borrow money from banks and credit companies. ¬ Their circumstances may mean that their credit history, score and rating is continually deteriorating. ¬ For instance, people on benefits may be unable to get a loan in order to start a work venture. ¬ In other cases, individuals may be trying to pay...

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