A Guarantor loan is an unsecured personal bank loan where the total amount lent is вЂguaranteedвЂ™ by another person вЂ“ the Guarantor.
The Guarantor guarantees the mortgage by acting as back-up towards the Borrower, by agreeing they will step up to settle the mortgage if the Borrower will not spend. British Credit provides Guarantor loans where both the Guarantor additionally the Borrower are home owners. This permits us to provide loans between ВЈ5,000 and ВЈ20,000 with rates of interest between 19.9per cent вЂ“ 29.9% APR (fixed).
Guarantor loans are an alternative for folks who are able to afford the repayments and feel it’s the smartest choice offered to them predicated on individual circumstances, even in the event they will have reduced credit ratings.