What is an endorsement loan?
An endorsement loan is similar to guarantor loans as they allow people who previously would not have been able to obtain finance, the opportunity to borrow up to £5000 with no credit checks.
The ‘endorser’ will effectively vouch for your loan application and it is they, not the applicant, who has to go through the usual process of credit searches and lender reference checks. Think about it this way, if a lender is going to give you some cash in the form of a loan then they need to ensure that there is a very good chance of getting their money back, that is why lots of borrowers in the UK get declined for a loan. The beauty about an endorsement loan is that it is the endorser on whom all the checks are made.
The endorser must fit one of the following categories…
21 or over.
A homeowner
Decent credit history (doesn’t have to be perfect but arrears will not be accepted)
The endorser can be a friend or a colleague, in fact it can be anyone at all who is prepared to ‘endorse’ your loan application. To see if you qualify, complete the form below and we will get straight back to you.
