Guarantor loan provider, UK Credit,has returned to the market with a brand new product.
Not only has the company refreshed its product offering, but it is also now one of only a small handful of providers in the UK to offer guarantor loans.
Guarantor loans are particularly helpful to borrowers who are have struggled in the past and have been turned down for a loan due to their credit history.
Guarantor loans place the responsibility for monthly repayments on the borrower. But, the lender is given the confidence to offer a loan, by having a guarantor prepared to step in and help, if it were to become necessary.
Financial solutions by those hit in the pocket by Covid-19
As the country and the world slowly moves away from the impact of lockdown, UK Credit is particularly keen to help those who find themselves unable to borrow, where banks are not wanting to lend, due to the Covid-19 pandemic.
Many former guarantor loan lendershave stopped offering this type of facility, at a time when UK consumers are most in need of flexible borrowing opportunities.
UK Credit temporarily paused lending during lockdown, but are back with a stronger proposition than ever before, at a time when it is needed most.
Their new guarantor loan offers opportunity to all sorts of borrowers, including those with a less than perfect credit history.
UK Credit is pleased to be able to offer a loan solution to those who are keen to set themselves up for a positive future, by getting their finances in order,with the support of a friend or family member to help them along the way.
Borrow from £3,000 – £15,000 with competitive rates of repayment
The new criteria offered by UK Credit accepts borrowers of any residential status, providing they are backed by a homeowner guarantor. Loan amounts of between £3,000 and £15,000 are available, over 3 to 5 years.
Having a guarantor means UK Credit are able to offer competitive rates between 24.9% and 39.9% APR, comparable to many credit cards. Those credit cards, however, may not be available to some people due to their credit history, where the UK Credit guarantor loan is.
Graham Eke, Chief Executive of UK Credit, commented: “With the world beginning to open up again, now is the ideal time to help consumers byre-entering the guarantor loan market.
“Our product is designed to help those with a less than perfect credit history access the funds they need, which is even more important off the back of the effects of Covid-19.
“We are keen to offer borrowers affordable rates of repayment to get them over the worst of their financial struggles. Money is a huge point of worry and concern as people try to get their lives back on track and to support their families.
“We hope our guarantor loan product will be a temporary helping hand to get our customers financial position into a more manageable place.”
To find out more about our new product visit https://www.ukcredit.co.uk/borrowing-from-us/.
