Most loan providers use one of two credit reference agencies, either Experian or Equifax.

We use Experian for all of our guarantor loan applications although we do have a facility with Equifax as well, however we like the credit score and credit search information provided by Experian because we feel it gives a fair reflection of an applicant and guarantor’s ability to repay the loan. It is worth pointing out that when we do a credit score on an individual, we only use this as a guide on which to base our lending decision. There are so many other factors involved with granting a loan such as the applicants disposable income, state of their existing credit (do they have too much credit already?) to name just a few.

If you apply for a loan with us and you want details of the information we hold on you, feel free to call us on 0151 343 3791 and we would be delighted to help.

The simple and straightforward answer to this is yes, you can use a guarantor loan to pay your upfront rental deposit and if you wish, the first months rent payment.

The reason this is such a commonly asked question is because there are associated costs with renting a property and whilst they are not as onerous as the costs you would incur with a mortgage, they can still be pretty expensive to fund if you are young and just starting out on the property ladder, be that rented or mortgaged.

To give you an idea, according to this article on average rent costs in the Guardian, the average house rent now stands at £713 a month. So if we take that figure of £713 as the figure that a person will have to pay upfront to rent their home (you always pay your first months rent upfront) and you add on the security deposit of 1 and a half months rent (which is £1069) that gives you a total figure to pay upfront of £1782 which is a not inconsiderable amount of money.

That is why a guarantor loan can be a useful and necessary tool for an individual to pay their upfront rental costs and of course, any other associated costs with moving into a new home. A guarantor loan won’t suit everyone but they are a fantastic way to get a loan if you have a poor credit history or maybe haven’t been in work for very long.

To find out more, just apply online or call us on 0151 343 3791.

Today the OFT sounded a further warning about loan companies charging upfront loan fees when they have absolutely no intention of finding the customer a loan.

Apparently, complaints to OFT-managed advice service Consumer Direct increased from 2,059 between 1 July 2009 and 30 June 2010 to 3,167 during the same period in 2010-11. This marked increase is a result of the increasing desperation that a borrower feels when searching for a loan and often they will resort to desperate measures to try and do anything to secure their finance. We have also seen a number of enquiries to our website where potential borrowers have been told that we have accepted them for a guarantor loan and when we speak to them, we find that they have been charged an upfront fee and been told that we have accepted and approved them!

Quite often, the individual will not be able to get back in touch with the company who charged them and if they do, then the loan company makes it very, very difficult for the individual to get their money back as they stall them with requests for ID, requests in writing, etc. It’s not a new tactic but as the OFT says, it’s happening more and more and unfortunately guarantor loan lenders and brokers are being tarred with the same brush.

Full OFT report and article here

The world of finance is in a funny old place right now and for the personal loan sector in particular, the market is probably encountering the most difficult time since lending began and personal loans as we previously knew them are dead.

Lenders don’t or can’t lend. Borrowers who would have been accepted for a loan just a few years ago are now being declined. People who think they have a great credit history are now finding that because the banks have changed their lending criteria, their credit history is not all that great anymore. House prices are stagnating or in some cases, still falling, meaning that people have less equity in their property which in turn means that they will not be able to re-mortgage or arrange a secured loan against their home. Credit card providers are withdrawing credit at the drop of a hat meaning that those people who were using their card to buy the basics such as food, petrol and in some cases, pay the rent or mortgage, are also in a fix.

In a nutshell, trying to obtain credit or finance in the UK in 2011 is becoming almost impossible and frankly, the financial services sector is in a mess.

To try and make sense of it all, we asked Ian Ferguson of Money Search UK to give us his view of the market and to also explain the various loan products available out there today.

Unsecured loans V Secured loans

It’s probably best that I start out with a few simple explanations of what the various loan products out there actually do. How do they work? Who are they suitable for?

An unsecured loan is a loan that is given to an individual who has nothing to offer in return apart from a ‘promise’ that they will pay the loan back to the lender. This means there is no asset involved…No car or house to offer to the lender meaning that if the borrower doesn’t pay the loan for any reason then the lender has no option but to beg you to pay the money back and if that fails (and it usually does) then the lender will have to resort to threatening (but legal) letters to scare you into repaying the loan. If this scary tactic doesn’t work then the lender will have to resort to their final gambit; smack you up with a default and if that doesn’t work, a County Court Judgment (CCJ). A CCJ still doesn’t ensure the borrower repays the loan because a lot of applicants won’t care if this gives them a bad credit profile because frankly, most borrowers who get to this stage will have a history of unpaid credit (no matter how small) and one more CCJ isn’t going to make them rush to pay their debts.

Of course I am being slightly unfair to those individuals who cannot repay their loan for whatever reason and it’s worth me mentioning the differences between non payers.

Cannot repay their loan

These are the unfortunate souls who have taken out credit or finance and really want to make their contractual monthly payment but they cannot for some reason. It may be that they have lost their job, had their hours reduced in work, divorced or separated from their partner, etc. These people are genuinely in need of our sympathy because they really do want to pay their way but circumstances have got the better of them and they find themselves in the terrible position of not being able to keep up with their repayments. It is situations like these where lenders absolutely will be more sympathetic and they will often try and come up with a repayment plan that suits the borrower and their new financial state of affairs. Now on to the other scenario…

Will not repay their loan

These are the people that we shouldn’t feel pity for because they make life (and obtaining credit) much more difficult for everyone else. They will often take out a loan and no sooner has the money hit their account than they decide they are not going to pay it back. Of course, the chances of someone doing this in 2011 are extremely remote because of the way lenders across the UK have tightened their criteria and thus made it almost impossible for anyone with a bad credit history to obtain a loan. However, it still happens and someone could take out a guarantor loan and do exactly this. (more on guarantor loans later)

As stated earlier, their credit history may be so poor that one more default or CCJ will make no difference to them repaying the loan. Let’s face it, if you have a couple of CCJs already then one more isn’t going to make any difference.

Now the reason I have mentioned the differences between non payers in this section where we are discussing unsecured loans is because these scenarios tend to happen more when no asset is involved. In other words, if the borrower doesn’t repay the loan, then the lender cannot take something off the borrower in lieu of payment such as a house or car, hence the reason these loans are known as unsecured loans because there is no asset secured against the borrowing. If this was a secured loan, then the lender would look to repossess the house, sell it and use the proceeds of the sale to have their loan repaid; you can’t do that with an unsecured personal loan.

Types of unsecured loans

Now this is where it gets to be a little bit of a minefield because in reality, the only type of unsecured loan you can get is a loan that is…unsecured! However, just like any other business sector, marketers have come up with new and novel ways to describe various loan products such as:

• Bad credit loans
• Poor credit loans
• No credit check loans
• Tenant loans
• Car loans
• Debt consolidation loans

Yet regardless of how different they all appear to be, they are all relatively the same and just to confuse you even more, all of the above (except tenant loans)can also be obtained by way of a secured loan (or second charge). However for the purposes of this article, we are going to focus this aspect on unsecured loans only.  The reason that companies do this is to ‘sex up’ the products because let’s face it, there is nothing remotely exciting, interesting or novel about any loan or finance product so marketers have to try and make each product sound vibrant and exciting. The other thing that you have probably noticed about these types of loans is that they all seem to major on the fact that people have bad credit, unmanageable debts or believe they will be turned down for credit if they approached one of the high street banks and there is a good reason for this.

If an individual had a good credit history then they would just approach their local building society or bank to obtain a loan. The bank pays the money out and everyone goes home happy. Now if an individual is declined by the same bank or building society because of previous or historic credit issues then the potential borrower will have to look elsewhere for a loan because these types of lending institutions do not cater for people with a less than brilliant credit history. So…The borrower goes home, jumps on the internet and voila! There is a whole array of people and companies on the internet offering loans even if YOU HAVE BAD CREDIT! Brilliant.

Although it really isn’t so brilliant after all because there are literally thousands of companies all offering loans…tenant loans, guarantor loans, secured loans, etc and you have no way of knowing of who is good, bad or indifferent and we really haven’t got the time to discuss this in much detail because it really is a subject that needs a whole website dedicating to it. However, if you follow a couple of golden rules you should be ok and they are:

1. Don’t deal with any website that doesn’t give you their full address and landline telephone number.
2. Don’t deal with any broker that asks you for your bank details BEFORE you receive an official offer from a lender.
3. Don’t deal with any broker that asks you to pay a ‘small upfront fee for arranging your loan’, which of course is now guaranteed…!

As long as you follow those rules then you should be ok and remember, there are lots of scam brokers out there but there are also some excellent brokers who will find the right loan deal for you based on your particular circumstances.

Guarantor loans

These loans are still ‘unsecured’ but they come with an added level of security for the lender. They work like this; a borrower applies for a loan with someone else as backup (the guarantor). The borrower does not get credit scored, only the guarantor, so it doesn’t really matter what the borrower’s credit history is like because the lending is assessed against the guarantor, not the borrower. The borrower will receive the loan and make all of the monthly repayments on the loan and the only time that the guarantor is called into action is if the borrower doesn’t repay the loan for some reason. In effect, the guarantor is ‘guaranteeing’ that the loan will be repaid in any eventuality.

Now the beauty of this type of loan is that the lender is effectively lending to someone with a great credit history (the guarantor) whilst the borrower is getting a loan that they normally would not have a chance of ever getting accepted for so for the lender and the borrower, it really is a win-win scenario. The meltdown in the financial markets has meant that whilst most loan products have been removed or their lending criteria tightened so that it is much harder to get accepted for a loan, guarantor loans have grown in popularity simply because they are flexible, easy to obtain and fairly quick to process (unlike a secured loan)

Now whilst I could go on and on about the merits of a guarantor loan, I also feel that we should take a look at the much maligned secured loan or second charge as it is sometimes known. Again, because of the complexity of this type of lending, we may discuss this in greater detail on another occasion but in a nutshell:

Secured loans are available (usually) from 10k to 100k with most lenders capping their loans at 75k. The loan is secured (remember the difference between secured and unsecured?) against the property that the homeowner owns or has a mortgage on. Now if the mortgage is far less than the property is worth then you are in business. As an example, the house is worth 200k but the mortgage is only for 100k meaning that the homeowners have 100k in equity in their property and/or a 50% loan to the value of the property. This means that most second charge lenders will take a look at this deal because they can usually provide a loan of up to 80% of the property value. So, you take away the existing mortgage loan to value percentage of 50% leaving 30% of the property’s value as a potential second charge loan. 30% of the property value equates to a loan of 60k and means that the total loans to the value of the property now total 80% (50% + 30% = 80%). Phew! I hope you are still with me.

We will go into more detail next time but suffice to say that that second charge lending can be a great way to raise more than the usual 5k loan that you are capped at with an unsecured loan and even better, the repayments on a second charge can be spread over the term of a mortgage which can be as much as 25 years meaning that the loan is also affordable and within reach.

Next time I will discuss secured loans in much more depth.

Exciting news at the UK’s favourite guarantor loan provider.

We are due to unveil a brand new lender meaning that we will have so many more options to offer our clients. This new lender is just going through testing with ourselves but we should be ready to roll by the 1st August 2011 and it means that we really will have an option to suite every type of borrower, from those with a guarantor to those without, from £100 to £5,000 and for people with a poor credit history to those with a really poor credit history.

As always, as soon as we launch on the 1st August we will provide full details here.

We are aware that not everyone is comfortable calling our ‘guarantor loan line‘ on 0845 123 1285. So for those who would prefer to call one of our loan processors on a local number, you can now contact an underwriter directly by calling 0151 343 3791.

Please have your unique reference to hand when calling and please tell the loan adviser what type of loan you are applying for such as unsecured loan, guarantor loan, etc and how much you are looking to borrow.

Quick note to wish a warm welcome to Natasha and Chris, two new additions to the UK’s guarantor loan specialist.

Both Natasha and Chris will be responsible for the operational side of the business and will process both consumer and introducer applications and will allow us to develop other loan sectors such as secured loans, payday loans and asset based loans. Our focus will still remain on guarantor loans because that is what we know best but these staff additions will allow us to expand at a much quicker rate and develop an equally strong proposition in other loan areas.

We are still looking for more staff,both on the sales and operations side so if you are interested in applying for a loan position, please send us an email (with Vacancy in the subject line) and brief overview of your career to date and we will get back to you in due course. Please apply at enquiry [ AT] anytypeofloan.co.uk.

Loan repayments

Here you will find details of typical loan repayments for a guarantor loan. We have published the most popular loan amounts that we receive applications for.

These figures are indicative and do not constitute an offer of a loan or finance. For full details and our terms and conditions, we will need to produce for you a Consumer Credit Act compliant quotation. Full details are available on request.

You should always make sure that you can afford the repayments before applying for any loan, regardless of whether you have a guarantor supporting or endorsing your application. If you or your guarantor have a question or need clarification of a guarantor loan related issue, please get in touch with us today. Full details are on our contact page.

And here is the legal bit – all loans are subject to status, full terms and conditions apply.

We had yet another person apply for a guarantor loan with us today that has been scammed out of their hard earned cash, not once but twice by the same company.

This company are very well known, are based south of Birmingham and do huge amounts of loan business (mostly secured loans but they do a small amount of unsecured loans) but this is a bit naughty. Now let us state here and now that we have no issues with any broker or lender that charges a fee, that is up to them and it can be argued that a fair amount of work goes into a loan application regardless of whether the loan actually completes or not so a fee for the time, effort, telephone calls, postage and credit searches is not unreasonable.

It just so happens that here at anytypeofloan.co.uk, we do not charge our clients any fees at all for placing their guarantor loans.

Anyway, back to the story. This lady spoke to the loan company who informed that she had indeed been passed for a loan and that she was guaranteed to get her loan so all she had to do was pay this company a fee because they had done their job and ‘found’ her a loan. The lady was naturally delighted and called us to inform us that she has been told that she has been ‘passed’ for a loan with ourselves. When we expressed the fact that we had no knowledge of what she was talking about, the penny started to drop slowly. She checked her bank account and found that her account had been debited to the tune of £109. Not only that but this amount had been taken twice!

Now if all that isn’t bad enough, this lady told us that she doesn’t work and hasn’t done for over 3 years. The only money she receives is from the state and this money in her bank was from hers and her mother’s wedding rings which she pawned 2 days earlier.

This lady is in a mess, not only financially but also emotionally and the worse thing about all of this is that we cannot doa thing to help her because to qualify for a guarantor loan you must be working.

A salutory tale indeed…

Ok so we have already looked at unsecured loans and now it is time to look in a little more detail at secured loans.

Secured loans have had a pretty bad press in recent times and yet they can be a fantastic and cost efficient (yes, I did say cost efficient) way of borrowing money, no matter what a few online forums may tell you and I will explain why they can be good value a bit later on.

A secured loan is a loan that is secured against an asset such as a house or a car and if you remember from our first article, this is the exact opposite of an unsecured loan which is not secured against any asset whatsoever. This is why a secured loan is usually only available to a homeowner (obviously if you own a car outright but live in rented accomodation then technically speaking you can get a loan secured against your car)

For the purposes of this article, we are only looking at traditional secured loans that are secured against property. Most lenders only allow borrowers to borrow up to 75% of their property value so as an example, if your home is worth £100,000 then you could in theory borrow £75,000 of your property value in a secured loan. However, you then need to take off what you owe your mortgage lender, bank or building society. So if you had a mortgage of £60,000 you could borrow £15,000 on a secured loan based on the example above; £75,000 (that’s the 75% max that the secured loan company will allow you to borrow) less £60,000 (your mortgage) will leave you with a loan of £15,000.

Obviously, borrowing money via a secured loan (sometimes known as a “second charge” because the mortgage is the “first charge”) is dependent on a number of factors and they are:

• How much is your property worth?
• What is your mortgage balance?
• Your credit history
• Your income and expenditure

Now that may seem like a lot but when you consider that you can borrow up to £75,000 with a secured loan then you can see why there are a few more checks that need to be made. Next time we will look at the mechanics of this type of loan and exactly how they work in principle.

Here at the guarantor loans specialist, anytypeofloan.co.uk, we get asked lots of questions everyday and we find that the same questions come up time and again so we thought we would produce a list of the most commonly asked questions.

So here it is, your free cut out and keep guide to applying for a loan with a guarantor.

Q: Will my Guarantor have to give their bank details?
A: Yes they will. Simply because if the person applying for the loan fails to keep up the monthly repayments, then (after a couple of attempts at trying to get the applicant to pay) we will go to the Guarantor to ask them to pay. Of course, the following month we will again firstly ask for the repayment from the applicant, not the guarantor.

Q: Does the Guarantor have to be a homeowner?
Yes they do. They must also live in a property that they own so someone with a lot of investment properties that lives in rented accomodation would not be suitable.

Q: I’m in a debt management plan – will that stop me getting a loan?
No, we can still offer you a loan but it will be what is known as a joint guarantor loan. The loan works in pretty much the same way as a normal guarantor loan but it means that both the applicant and the guarantor become joint borrowers and both will find their names (and responsibilities to the loan) on the loan agreement.

Q: Can my partner be my guarantor?
Yes they can but the loan will be restricted to £3,500 instead of the usual £5,000

Q: Can I borrow more than £5,000?
Yes, you can borrow up to £7,500 with our guarantor loans.

Q: Do you charge fees?
No, No and No. Make sure you avoid any company who charges upfront fees.

Q: My parents are retired, will that stop them qualifying as a guarantor?
No, as long as they own their property and can prove they have an income each month (not just state pension but also a private pension) then they can still apply to be your guarantor.

Q: Can I get a loan if I am unemployed or on benefits?
Unfortunately not. If you are receiving Working Family Tax credits IN ADDITION to a monthly salary then we can absolutely consider you for a loan.

Click here for a full and comprehensive list of Guarantor Loan frequently asked questions

To apply for a guarantor loan from anytypeofloan.co.uk is really easy and completely hassle free.

All you have to do is complete the online form here. Once you have completed and submitted it, we will email and post you our application form. In addition, we will also call you immediately (if that is what you have indicated on the enquiry form). We will then take a few more details about you and your guarantor and we will take it from there!

You can borrow up to £5000 even if it is the first time you have applied with us.

We will provide you with a full consumer credit quote which will detail the loan we can offer you, the interest rate, the APR and any fees charged by the lender.

Remember: We never charge clients fees, either upfront or added on to the loan so you can be sure that you are getting one of the cheapest loans in the UK when you apply to anytypeofloan.co.uk. Your guarantor must be 21 or over, a homeowner and with a decent credit history and can be anyone (doesn’t have to be a relative) who is prepared to vouch for you and support your loan application.

If you are looking forward to Christmas but are worried about how you are going to afford it, then why not consider a Christmas guarantor loan from anytypeofloan.co.uk.

Guarantor loans can be used for any reason whatsoever, so if you need to buy Christmas presents, buy new clothes for the family or just want some cash to see you through the festive period, get in touch with us today and see if we can help. The great thing about a loan that is backed up with a guarantor is that there are no credit checks on you, the borrower. The person endorsing your loan (the guarantor) will be the person that we we will be credit scoring and that is why it is important that they have a clean credit history.

Remember, anyone with a less than perfect credit history can obtain a gurantor loan of up to £5,000, even if it is the first time you have applied to us. So what are you waiting for? If you want your loan in time for Christmas, get in touch with us today by completing the online form below!

Do you know that you can still get a loan even if you have bad credit? Or if you have been turned down for a loan by another lender? Or even if you are not working?

Of course the credit crunch has made banks and other finance lenders more wary and this has made applying for a loan even more difficult which is why the majority of people applying for loans in 2010 get refused. And to make matters worse, people who would normally have been accepted a few years ago are now also getting declined because lenders have made the criteria for applying for a loan much more difficult than it used to be.

In simple terms, even people with a fairly respectable credit history are now unable to get a loan.

Or they were until the introduction of guarantor loans. A guarantor loan allows anyone with a bad credit history to borrow up to £5000 without any credit checks at all.  It doesn’t matter even if you work part time or are a housewife, a guarantor loans ias available to anyone in the UK who can provide us with a guarantor, ie, someone who is over 21, a homeowner and with a fairly ok credit history (certainly no CCJs or defaults)

Why Guarantor Loans

Guarantor loans are increasing in popularity and yet whilst they were a popular feature of the mortgage market (particularly in the 1980’s with rapidly rising house prices) they were almost unknown in the loans industry until about 18 months ago.

One of the reasons for this surge in popularity in guarantor loans will be down to economics and in particular, the global liquidity crisis which has seen banks and other major finance providers tighten their criteria to make it almost impossible for certain members of society to obtain a loan, or even worse, they have withdrawn their lending facilities altogether.

However the credit crunch has done a lot more than just get lenders, banks and other finance institutions to tighten their criteria. Their new lending stance has actually placed a whole subset of society into the box marked “Do not lend to” and this in itself brings a whole new set of problems.  The subprime credit crunch is well documented but in a nutshell, lenders were lending money to people with credit problems, however (and contrary to popular thought) this was not just a case of lending to people who would not (or had no intention of) repaying their loan, subprime lending was also for people who perhaps hadn’t been in employment very long, or who couldn’t prove their income or in some cases, because they may have missed one or two credit card payments. Either way, these types of borrowers hardly presented a huge risk to lenders as the vast majority repaid their loans on time every time.

Unfortunately, when the subprime crunch became public, it was a case of seeing which lender could restrict their criteria the quickest and for some it was already too late as they went to the wall. Those lenders that remained decided upon drastic action, the main thrust of which was to label “prime” borrowers as “subprime”. To clarify; some borrowers who had a few late payments on a loan or credit card would be classed as prime because they represented very little risk. Now lenders have re-classified those same borrowers as subprime because in this new post credit crunch world, unless you have an A1, first class credit history with absolutely no blips on your file, you will be classified as a risk, especially with something like an unsecured loan.

So what is the solution?

Well, guarantor loans appear to fill the void that the credit crunch has created in the lending sector. They work on two levels and are a definite “win-win” for both the borrower and the lender and here is why.

Borrower

A borrower who is unlikely to be accepted for a loan by anyone else (more details on why further on) can apply for a guarantor loan safe in the knowledge that as long as they can get someone on their side to ‘vouch’ for their loan application, then they are pretty much guaranteed to get accepted.

Lender

Lending money on a guarantor loan is as risk free as it gets with an unsecured loan. Unlike a traditional unsecured loan where the application is assessed and underwritten on the borrower, a guarantor loan is assessed on the guarantor – not the borrower. As the guarantor will have a decent credit history, it means that the lender has a far better than average chance of getting paid each month for the loan. The other major thing to note about this type of unsecured lending is this: Most guarantor loan companies like www.anytypeofloan.co.uk will restrict lending to a new borrower to £3,000. Of course once they are an established client the limit will rise to £5,000 but for a first timer it will be capped at £3,000. This means that if the borrower does default on their repayments, the lender will revert to the guarantor and ask them to repay the rest of the loan on behalf of the borrower, after all, that is what they signed and agreed to.

The great thing about this from the lenders perspective is that the guarantor is unlikely to refuse a request for payment because if they do, it will severely affect their credit profile and they could end up with their credit score being destroyed by this one simple act.

So, the vast majority of guarantors will just pay up and even if they haven’t got the cash to hand, capping the borrower’s loan at £3,000 means that if push came to shove, they could repay the outstanding debt on a credit card or through an overdraft extension. Anything in fact to avoid having their credit history affected.

This is one of the major attractions of a guarantor loan and is another reason why lenders are so keen to lend money on this type of scheme. It works for borrowers, it works for lenders and everyone is happy.

The final thing to note is the charging structures involved in this type of loan. There are lots of firms offering guarantor loans online who charge clients an upfront fee, just for the privilege of applying online, even though there is no guarantee that you will be accepted for a loan. You should always avoid this type of broker and ensure that you only deal with a broker that offers their full trading address, their consumer credit licence (CCL) number and a UK telephone number for you to call them with any issues, problems or queries, either before or after your enquiry.

Remember, all brokers and websites on the internet must display a valid consumer credit licence and this licence must be in the name of the company trading style so if the website is called guarantorloans4u.com, then their CCL must also have that exact name otherwise it is a criminal offence. Unfortunately, the popularity of guarantor loans has led to an increase in bloggers and other sites that do not have the relevant permissions or licences. To check out the company you are looking to deal with, search on the OFT website to ensure they have a valid CCL.

Guarantor loans from www.anytypeofloan.co.uk

Have you been facing difficulty in getting loans due to your bad credit? You don’t have sufficient collateral to pledge for the loan too? If your answer is yes to any of these questions, then we can definitely help you. Guaranteed unsecured loans are guaranteed irrespective of your poor credit history or non homeowner status. Guaranteed unsecured loans help you to get easy cash within 24 hours to meet all your urgent financial requirements. Moreover, you can start rebuilding your credit instantly.

You can easily qualify for guaranteed unsecured loans if you can prove your employment status. Guaranteed unsecured loans are available at lower rate of interest to all kinds of borrowers. You will be saved of all the lengthy legal procedures if you opt for this type of loan. Guaranteed unsecured loans are risk free!

Fast Unsecured Personal Loans – Avail Loans Instantly!
There are times when we are in need of cash urgently and face difficulty in getting a loan approved. Since the lenders usually take a longer time to approve the loan, it may be an inconvenience to us. Fast unsecured loans are approved fast and are hassle free.

Before applying for fast unsecured personal loans, you should know the prerequisites of the loan:
•  You can apply online – You can fill up the form online and fill in the details like your name, address, and account number, purpose of loan, credit history, and repayment period.
•  It is risk free to the borrower – Since the lender does not keep any collateral as security, it is risk free to the borrower.
•  The amount of loan is not high – The loan amount is generally between £5,000 to £25,000. And the repayment period is usually between 5 to 15 years.
•  Any borrower can avail this loan – A borrower with bad credit history can also apply for this type of loan.

Are you running on bad credit and facing difficulty in getting loans approved? If yes, we can help you get bad credit unsecured loans to meet your needs. Bad credit unsecured loans are approved without asking for collateral on part of the borrower. Unsecured loans are favourable for those who are looking for loans without guarantee.
Usually lenders accept home as collateral against the loan amount. Lenders also accept borrowers with bad credit history. Alternately, homeowners who do not wish to put their home on risk can also apply for unsecured bad credit loan.

Bad credit unsecured loans are suitable for all kinds of needs. They can be used for home improvement, education, debt consolidation, vacation, automobile purchase or wedding.  They are also the safest and easiest means of rebuilding your credit and improve your financial situation.

We will find you a guarantee loan regardless of your credit history. Guarantee loans are also known as guarantor loans and we here at anytypeofloan.co.uk have quite rightly earned a reputation as THE guarantor loan providers in the UK.

• Interest rates at just 24%
• We don’t ever charge you a fee
• You can borrow up to £5000
• You can even borrow £1000 if you are unemployed

To find out more just complete this form below.

In order to take out guarantor loans for people with bad credit you can be a council or private tenant, or you can be a homeowner. The application procedure is totally in confidence and no-one will know anything about the matter (including your employer if you are working). You can be retired from work.

Those who apply for guarantor loans for people with bad credit will apply knowing that they have access to an easy line of credit generally within 3 days of applying. You can pay back the loan before term if you wish without any redemption penalties. The loan may be used for any purpose in most cases and there are some insurance options available in certain circumstances.

The concept of guarantor loans for people with bad credit resulted from fallout due to the credit upheaval of recent years. Something had to change allowing ordinary people with bad credit scores to raise funds. The answer was the guarantor loan and it has shown itself to be popular.

About the applicant for a guarantor loan

Conceptually the loan applicant does not need to have a good credit rating, in fact they can be bankrupt, or in an iva, or pretty much anything. All they require is a bank account and proof of identity, plus one very important thing: a friend or family member who is willing to support your application by being a guarantor. The guarantor simply accepts to take on the responsibility of making the loan payments should the applicant fall behind for whatever reason. For this reason the guarantor must have a good credit rating, and also be a homeowner. Collective responsibillty opens more doors than the word of someone who has a bad credit history.

You can apply for a loan with a guarantor by completing this form below.

With a guarantor loan UK you can get access to cash quite readily no matter your credit history. If you have someone who will act as your guarantor, like a parent, close friend or relation who knows you quite well, then you will not need to be credit scored, therefore your credit history will not matter.

With a guarantor loan UK people may gain access to credit again even with a poor credit history featuring things like arrears, defaults and CCJs. This is a more sensible approach to lending which will once more let a large section of people access to lines of credit which would not otherwise have been the case.

The concept of a guarantor loan UK came about as a result of fallout from the credit crunch of recent years. Something needed to change allowing ordinary people with bad credit scores to access new lines of credit. The remedy was the guarantor loan which has proved itself very popular.

Guarantor loan UK

Once upon a time credit was easy, you could go into any bank and ask to borrow money. Nay, you could even just call them up and they would press some buttons and you would have a few extra thousand pounds to spend. But then things changed and unsecured loans became something of a risk to the banks and anyone other than the few who had perfect unblemished credit ratings were left trolling the high street with the full burden of bad credit or poor credit weighing heavily on their shoulders. Unsecured loans are becoming a thing of the past and things like logbook loans are appearing along side same day cash advances and payday loans all at super high apr when right now we all should be recieving the benefit of low interest rates in the form of low apr unsecured loans. This is where guarantor loans come in and for the most part they are the closest thing anyone can get to a guaranteed loan.

Is a question that we are often asked here at anytypeofloan.co.uk.

Those making an application for guarantor loans do so in the knowledge that they can have access to an easy source of money generally within three days of filling in the application form. You can repay the loan back early if you want to without any redemption penalties..

With guarantor loans you may borrow money easily no matter what your credit history or if you have no credit history at all. If someone consents to be your guarantor, someone like a parent, relation or close friend who knows you well, you will not be credit scored, therefore your own credit history will not matter.

Many people may say the main advantage of guarantor loans is that the borrower’s former credit history is rendered irrelevant. All prior arrears, defaults and missed payments are no longer relevant at all. As long as a guarantor with an average credit record can be nominated then you can obtain credit again, despite all the things that had gone on in the past.

Are Guarantor Loans available to me despite having bad credit?

Getting an unsecured loan when you have bad credit has become much easier with the advent of Guarantor Loans. This site will help provide you with all the information you need to help you get the best deals on this exciting and highly accessible form of unsecured loan and improve your credit history. Life can be easy when you know how. You may think that no loans company or lender is going to look at you because of your poor credit rating but it’s not something you should worry too much about because that’s not how these work. CCJs are a pain of course but you can still borrow money at a relatively low cost compared to the doorstep lenders if you can find a guarantor.

Most guarantor loan companies restrict your first loan with them to £1/2,000, even if you have a fantastic guarantor with a perfect credit history who is in full time employment.

Here at anytypeofloan.co.uk we can provide applicants with guarantor loans of £5,000 even if you have never dealt with us before. Not only that but the interest rate is now just 24%  per annum compared to other similar lenders who are charging 30% per annum for their guarantor loans. The combination of a low rate, flexible lending criteria and a speedy process means that there is not a better time to apply for a loan and here at the UKs leading unsecured loan broker, we can make the process simple, straightforward and hassle free so don’t delay it any longer, apply for your £5,000 loan today with the loan guarantor specialist.

You are probably aware now that we do not charge ANY clients of anytypeofloan.co.uk a fee for using our services.

We have set the benchmark for no fee loans in the UK and we have a fantastic reputation for being professional, ethical and completely transparent in all our dealings with all types of clients looking for all types of loans. Unlike other companies who promise not to charge you an upfront fee but invariably always do, we NEVER will charge you a processing fee, an application fee, an introductory fee or any other charge or fee for arranging your personal loan.

We are pleased to announce that TFS loans – the guarantor providers, have announced the launch of a new portal which will make it even easier for anytypeofloan.co.uk to place your cases. You can read the full article on the talk-finance website here.

You can apply for a loan here.

We have access to a fantastic new Guarantor Loan product that allows borrowers with a poor credit history to obtain a loan of up to £3000. As you know, we are number 1 on Google for guarantor loans and we pride ourselves on being able to offer our customers the best range of loans, whether you are a homeowner or a tenant.

The guarantor loans criteria is as follows:

• Loans from £2,000 to £5,000
• Terms from 24 months to 48 months
• Interest rate of 30% annually or just 2.5% per month

And remember this…we never charge you any fees, either upfront or on completion of your loan, so we are fairly certain that you will not find a cheaper guarantor loan interest rate anywhere. Full details on request.

To make sure you are eligible for a loan you must be able to answer YES to the following questions.

• Are you aged 21 to 65?
• Are you currently employed?
• Are your wages paid directly into your bank account?
• Does your bank account allow direct debits?
• Do you have a Solo / Debit / Electron or Maestro card?
• Can you confirm that you are not in a debt management, IVA or bankruptcy scheme?

Once you have satisfied the above then you are in a position to proceed. We also offer various other types of loans to borrowers such as tenant loans, car loans, unsecured poor credit loans, homeowner loans and secured loans. Simply complete this form and we will get back to you within minutes.

Guarantor loans are special loans that allow people with a poor credit history (even an absolutely terrible credit history!) to obtain a loan of up to £3000 and assuming you find someone applicable to endorse your application (the guarantor), then you are guaranteed to get accepted.

A guarantor loan is an unsecured loan which means that it is not secured against your property or other asset (this is definitely not a logbook loan or anything similar!) and is particularly suitable for:

• Tenants – private or local authority
• Homeowners without equity in their property
• People living with their parents / family

In addition and as mentioned before, there are absolutely no credit checks which means that even if you do have a track record of missed rent or mortgage payments, late credit card payments or even if you have a few defaults or county court judgements (CCJs), then as long as you provide a suitable guarantor, then you are 100% guaranteed to be accepted.

How does a guarantor loan work?

The loan works like this; the borrower makes an application through www.anytypeofloan.co.uk as normal. They will also provide details of the person who will be their guarantor (more details on who can be a guarantor further on) on the application.

We will then work out the repayment schedule, the interest rate (usual high street rates) and the repayment period and then we will assess the application based on the guarantor’s credit history, not the borrower’s. Once agreed the loan will then be paid into the borrowers bank account and a monthly direct debit will be setup in the borrowers name and all monthly repayments will come out of the borrowers bank account.

So where does the guarantor come in?

Aside from the initial assessment, the guarantor will have no further part to play unless the following situations arise:

• Borrower cannot repay the loan
• Borrower will not repay the loan

If either of these situations develop, then the guarantor will become liable for the outstanding loan including costs. The lender can also instigate legal proceedings against the guarantor, not the borrower, if the loan is not repaid under the terms of the loan agreement, so any potential guarantor need to understand the role they will play and their legal obligations in respect of the loan. Obviously, any non repayment will reflect on the guarantor and not the borrower which means that the main credit reference agencies such as Equifax and Experian will be informed and this will severely hamper someone’s ability to get accepted for any future credit.

Who can be a guarantor?

As long as the person endorsing your application is a homeowner, has a clean credit history, is employed in a full time position and is over the age of 21, then it can be absolutely anyone. You could call upon a family member, neighbour, colleague or in fact anyone who has a clean credit history and is prepared to back up your application and of course, be responsible should you not meet your obligations with the loan.

And finally it is worth remembering that taking out a guarantor loan will mean that the borrower will be taking on certain responsibilities and regardless of whether they are responsible for the repayment or non-repayment of the debt; they have to understand the implications. However there is a plus side to this as it also means that if the loan is repaid on time every time, then the borrower’s credit profile will also improve as an indirect result of the loan being conducted properly throughout the term.

To find out more (and remember that we never charge any upfront fees) simply complete the simple online enquiry form here.