UK Guaranteed Loan
1. What is a guaranteed loan?
A guaranteed loan is a loan that is somewhat pre-approved for people with a good credit rating but is slightly different for those who don't have a good credit rating. For those who have a bad credit history, it can offer a quick relief from the bills they owe and help them get back on the right track again.
2. If my credit is bad, can I still get a guaranteed loan?
Yes, these loans are designed for people who have bad credit. It is offered to the customer who does not have a good credit history. That is why many people find this kind of uk loan convenient for their needs. This type of loan can get you over a financial bump when you need it.
3. Will I need collateral for this loan?
Yes, collateral of some kind is required and the lender will accept such things as your home or an expensive car. When you offer collateral, it gives the lender more security than just lending you the money without it. This also could affect the rates you will have to pay, depending on what type of collateral it is.
4. What happens if I don't repay the loan?
If you don't repay the loan then the lender will seize whatever you put up as collateral and resell it to try and get some of the money back that you borrowed. If it is your home, then the lender has the right to repossess it and the same applies if it is a car.
5. Is it impossible to get a guaranteed loan without collateral?
No, it is not impossible. Some lenders will let you have the loan even if you don't have collateral. This becomes an unsecured loan, but you must keep in mind that this type of loan won't involve any big amounts of money. The amount the lender will give is far less than you would get on other types of loans.
6. How much can I borrow with a guaranteed loan?
When you borrow, the money you can borrow is far less than compared to a personal loan. If you do not have any collateral, it is even less than with any other type of loan. So if you need a large sum of money this would not be the best loan to seek out.
7. What amount can I expect to get?
Usually these types of loans cover things like consolidating other small bills or for medical expenses and things such as this. It would not be a good idea to borrow on this type of loan for a house or a car, but this type of loan can help in other ways.
8. Where can I apply for a guaranteed loan?
There are many companies available that offer guaranteed loans. You can check around locally at your bank or one of the other loan companies you will find in your city or town. Check the phone book for ones in your town or close by. It should not be difficult to find a lender that offers guaranteed loans.
9. Are there any other places to seek a guaranteed loan?
Yes, you can apply for a guaranteed loan online. It is no further away than a click of your mouse. By doing this you can easily compare rates, terms and conditions and all of this can be done from the privacy of your own home rather than having to go out and look for an office building.
10. What is the most important thing I can do before applying for a loan?
The most important thing you can do before applying for a guaranteed loan is to do a little research on the companies and the rates that each one charges. This way you can be sure of getting the best deal possible. Each company may offer a different interest rate and also different terms and conditions.
UK Guaranteed Loan Information & UK Guaranteed Loans
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