I don’t have a guarantor – can I get a loan?
Guarantors are a person, usually a family member or close friend, who serves as security against your loan. This means that if you are unable to make a repayment on your loan, this person is legally-bound to take over the payments for you. Therefore, guarantor loans should only be considered if you know someone who will do this for you. Furthermore, because this person is also responsible for your loan, they too must be subject to a credit check and prove to be able to take over the repayments should not be able to.
However, if you are not looking for loans with a guarantor, we can still help you. This is because many direct lenders now offer loans that do not require you to have a guarantor. Whilst there may be some restrictions regarding meeting other set criteria, you will not be required to have a guarantor. Because we feature so many different lenders, each offering a wide selection of short-term loan, we are very confident that we can help you find the right loan for you, even if you do not want to have to involve a guarantor.
Why Choose Xav Loans?
Adaptable loans from friendly people
Can I get a guarantor loan online?
There is now a huge selection of guarantor loans available online. These loans are incredibly easy to apply for and are available on your computer, mobile phone and any other mobile device. You can therefore now apply for a loan from anywhere and at any time.
Wanting to make the entire application process as user-friendly as possible, most direct lenders have created processes that can be quickly completed. What’s more, because everything is done online, you no longer have to make time-consuming visits to a branch or even have an interview. This means that lenders are now able to process your application much more quickly – with many offering you an instant decision once you have completed the process.
Wanting to give you the money as quickly as possible, many lenders strive to get your loan into your account in just 10-minutes from the moment you have been approved. All of this combined means you can now get a loan quicker than ever before.
Can I get a guarantor loan with a bad credit history?
There are now a variety of direct lenders offering guarantor loans for people with bad credit. This is because lenders have now realised that credit scores, and the ability to have a guarantor, should give you access to fair and competitive loans when you need them.
Whilst not all lenders offer guarantor loans for people with bad credit, because we have such a large and diverse panel of lenders for you to choose from, we are confident that we can help you find the perfect one for you. Furthermore, because these loans are offered by lenders fully authorised and regulated by The Financial Conduct Authority, you can be assured that you will be getting a short-term loan that is constantly monitored for fairness and competitiveness. You are therefore much more likely to get a guarantor loan through us if you suffer from a bad credit history.
What’s more, your loan will be completely transparent in every aspect; allowing you to always know exactly what you are repaying, when and for how long. If you ever have questions regarding your loan at any point of your loan, your lender will be on hand to answer any questions you may have.
Who is the best lender for guarantor loans?
Whether you are looking for loans with a guarantor or without, the best lender for you depends on a variety of factors. Therefore, when searching for the best lender, it is important to know a few things beforehand. First, is how much you want to borrow and how long you need to repay it back. This is important as it ensures that you can afford your repayments and therefore avoid any financial difficulties in the future.
Furthermore, by repaying your loan back when agreed, you will improve your credit score; making it easier to be approved for a loan in the future. There is no one size fits all with loans, what is good for you may not be good for the next person, and vice versa. We treat all of our customers as individuals and will work to find the best short term loan for each individual customer.
Who is the best person to choose for a guarantor?
When deciding who to ask to be a guarantor for your loan, there are certain requirements that you must take into account before making your decision. These requirements may change slightly, but in general, will be the same for most direct lenders. Firstly, your guarantor must be aged between 18 -75. Next, your guarantor must be financially able to make your loan repayments should you not be able to. Therefore, your guarantor will be subject to a credit check like you. This means that your guarantor needs to have a fairly good credit history in order to be considered.
Next, some lenders will insist that your guarantor is in either part-time or full-time employment, whilst other lenders may require them to be a homeowner. Because of all these factors, it is important that you trust your guarantor and that they trust you. Therefore, most guarantors are usually a family member or close friend. You are advised to make sure that both of you are fully aware of the terms of the loan and was is required before you apply.