When You Should and Should Not Use Guarantor Loans
Guarantor loans are supposed to be used for emergency purposes and not for frivolous spending or material gain. The idea is that by applying online through one of our featured lenders, you can get the funds you need to pay for your emergency in one lump sum and then you can repay your loan over equal monthly instalments, finding yourself in a better financial position. The lenders we feature on
Read MoreHow to set up your own loans company
To speak to a Consultant about starting a loan company, email: daniel@tudorlodgeconsultants.com The loans industry in the UK has grown significantly over the last decade. A combination of UK banks having a stricter lending policy and the evolution of the Internet has seen the payday loans industry, guarantor loan and peer-to-peer lending industry soar to a value worth over a combined £4 billion. (Source: BBC, This is Money, The Independent) with
Read MoreWhat is APR and Why is it used for Guarantor Loans?
APR stands for Annual Percentage Rate and is the standard measure of financial products all over the world. By all types of loans, mortgages and interests using APR, the idea is that it is easy to make comparisons between products and companies. As the 'Annual' percentage rate, it refers to what the loan would cost if you took it out for an entire year. Since guarantor loans may only last a few
Read MoreGLC is working with Guarantor My Loan
Guarantor Loan Comparison is thrilled to announce that we are now working with Guarantor My Loan. The Norwich-based lender offers guarantor loans from £1,000 to £5,000 which are repaid in monthly instalments over 5 years. What is special about Guarantor My Loan is that they offer cashback for the last month of your loan if you repay on time. This means that your final monthly repayment can be completely refunded,
Read MoreHow guarantor loans can improve your credit score
By repaying a guarantor loan on time, you are able to improve your credit score. By demonstrating that you are able to pay a loan off whether its a guarantor, logbook or payday, it is showing your creditworthiness. So whenever you repay a loan, the information is reported by the lender to a credit reference agency such as Equifax, Experian or CallCredit and this will update your credit score accordingly. The
Read More