Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

New Guarantor Loan Lenders

 

At The Lenders List we are always looking to list and compare new guarantor loan lenders as well as the old and established lenders. We have found that more and more people are searching for new guarantor lenders to see if the market has expanded and to see if the rates have become more competitive. We try to list the newest lenders who offer competitive rates to keep the existing lenders on there toes and try and offer customers the best rates when they are comparing on our site. Most lenders offer loans to repaid over 6 months up to 5 years so this gives you an opportunity to select the amount of time you wish to repay the loan making this flexible to your needs once agreed with the loan lender.

Analyse New Guarantor Loan Lenders And Existing Lenders

The best way to analyse new guarantor loan lenders is by checking each dedicated lenders pages and comparing the APR that each lender is offering, The APR is a measure of how much interest will be charged based on the amount you borrow and for how long. Always compare the lenders never just settle for the first lender you see and always visit the lenders sites as they will have a slide calculator to give you costs of a loan.

New guarantor lenders offer various types of loans such as homeowner guarantor loans, non homeowner guarantor loans, tenant guarantor loans and even no credit check guarantor loans but you guarantor will be credit checked for you to obtain a loan in most cases. With new guarantor loan lenders you can borrow up to £10,000 based on personal circumstances to attract customers and have the edge over existing lenders.

Guarantor Lenders The Alternative To Payday

New guarantor loans are now an alternative to the the payday loan industry and your not restricted to low amounts to borrow. Typically a payday loan or an instalment loan lender allows you to borrow up to £2000 whereas with a guarantor you are able to borrow more over a longer period should you wish. The payday loan market is heavily regulated by the FCA and has been subject to bad publicity over the past year or so with interests rates and charges that are applied and this has led to more people looking for alternatives such as looking for new guarantor lenders and existing lenders offering better and competitive rates.

Best Guarantor Loan Lenders

We try our very best to list the best guarantor lenders in the market. This include doing our own research analysing the lenders sites as well as speaking to advisor’s to get the best and accurate information as possible. Below you will see what procedures the best guarantor loan lenders should follow in our eyes:

  • Responsible Lending

Guarantor lenders have to adhere to the responsible lending policy to make sure that they are offering the best and truthful service that customers are in a position to repay comfortably minimising the risk of any financial difficulties. The FCA also have a policy called Treat Customers Fairly which means that guarantor lenders have to conduct thorough checks on you and your guarantor to check if the loan is affordable before coming to a final decision if they are to offer you a loan. More information about responsible lending can be found on the following link – Be Responsible

  • Transparency

This means that a good payday loan lender will show all the costs and repayments of their loans very clearly on their website. The payday loan industry is regulated by the Financial Conduct Authority (FCA) and responsible lenders who adhere to their ruling will clearly have all the costs displayed on their website and they will make sure that the APR is very prominent to see when applying. A customer should know exactly how much their loan will cost them when they apply and showing transparency on a lender’s website is a good characteristic of responsible lending.

  • Secure Information

The best guarantor loan lenders tend to host their sites using some of the best secure servers in the market to keep your details protected. Guarantor lenders sites that start “https” this tends to confirm that you are dealing with a secure site and that your details should be protected as they have security measures in place making the process for 3rd party company to have access to any of your details but if you feel there is any breach of your details please contact the lender who you applied with and notify them.

  • No Upfront Fees

We strongly advise that you apply direct with a guarantor loan lenders, with so many brokers in the market you avoid the risk of paying any up front fees and direct lenders will never take a fee in advance for just completing an application. On our site we pride ourselves on featuring only direct guarantor lenders where it is absolutely free to apply avoiding any brokers and this is why we choose to only list the best guarantor loan lenders.