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)

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their criteria to make it almost impossible for certain members of society to obtain a loan, or even worse, they have withdrawn their lending facilities altogether.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

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.

• 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.

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 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.

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.

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.

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.

You can apply for a loan here.