How to apply for one of our loans?
With the financial situation that prevails in the United Kingdom currently, it is necessary for people to look at numerous loan options to get cash in times of dire need. Guarantor loans and logbook loans are options within the United Kingdom that provide solutions to borrowers. They disregard the routine credit checks required and they do not delve much into the credit history of individual borrowers.
An understanding of how to go about applying for loans
You may visit our website and look for a range of loans available. Before applying for a particular loan, all borrowers need to understand that guarantor loans are unsecured loans that allow them to provide a guarantor to the lenders. This guarantor is a person who steps in if there are any problems of non-payment of monthly instalments during the repayment schedule. The guarantor takes up full responsibility of the loan repayment. Borrowers have to ensure that the guarantor is aware of the risks that may be involved when they are unable to make regular payments. When borrowers have the low credit rating or if they have had problems being accepted for loans at various places, guarantor loans may just be a useful way for them to borrow. Guarantor loan companies rarely carry out routine credit checks as they have the full security provided by a guarantor who steps in case of a problem. However, before applying for a guarantor loan, borrowers should carefully go through all terms and conditions.
You can apply online and receive our decision on your guarantor loan application. You may note that there are no fees that are charged upfront. You can always enquire at no cost to yourself and at no risk, too. Even if other lenders have refused your loan application, we will help you get a loan. The advantages of approaching us include no demand for a high credit scoring. Our decision does not take much time in assessing your loan application.
You can also get a logbook loan from us by just filling out our application form online after you go through our interest rates and the repayment schemes available to you. You can also check out on your eligibility criteria along with a list of all documents that are required for processing the loan before you settle down to borrow any loan from us.
Generally, the interest rates would be around 400% APR or higher. The tenure may stretch up to seventy-eight weeks and the borrower has the options to settle the loan amount earlier than the terms arrived at. You will be able to get the loan amount in cash or in the form of a cheque, based on your bank requirements.
Procedure for a loan application
Step 1 – Loan Details – the borrower has to mention clearly the amount of the loan required, the repayment scheme for the loan that he or she would like to apply for and the purpose for taking the loan.
Step 2 – Personal Details – Personal information has to be supplied such as the full name of the borrower, date of birth, contact details, residential address, marital status and type of vehicle owned.
Step 3 – Income Status – The income status submitted by the borrower has to include the current employment status, name of the employer, job title, the industry the borrower is working for, number of months or years the borrower may have worked at the current job, salary that he or she may be earning and frequency of receiving that salary, including the payday details.
Step 4 – Expenditure Details – This information has to include rent and mortgage payment schedules, details of utility bills, monthly credit commitments, and other costs related to food or transportation.
Step 5 – Bank Details – Name of the bank and account number; details of debit and credit card providers.
Step 6 – Credit History Details – This information has to include a complete list of credit that was taken out by the borrower in the past.
There are many people within the United Kingdom that have lost their precious jobs over the past few years and most of them have become susceptible to the cash crisis. During such times, it is imperative to seek options that help solve the financial crisis and sustain all matters that are linked with debts. Visit Logbook-Loans.net for more information on logbook loans.