(Entertainment-NewsWire.com, June 18, 2013 ) Oxon, UK -- As guarantor loans become an increasingly popular option for people who have difficulty obtaining credit, the UK’s leading guarantor loan specialist is providing information to consumers on how to choose the best guarantor for the job.
People with bad credit are benefiting from guarantor loans thanks to their rapid payout, subject to affordability, providing there is someone who can act as the guarantor.
According to information available on http://www.gbploans.com, the big decision for someone seeking a guarantor loan is choosing the right person to act as the guarantor.
“Deciding on the right person is important, as you must find someone that you’re close enough with to talk about money matters. You should find someone who trusts you and who would be comfortable lending money to you. They won’t have to do this, of course, but the principle is the same – if they’d lend money to you then they’d probably be happy to be a guarantor for you,” said the GBP Loans spokesperson.
The guarantor also needs to fit the requirements of the loan provider. The loan providers often stipulate that the guarantor needs to be of a certain age, be a homeowner and have a good credit history. As long as the guarantor has a decent credit score, the applicant should be able to get through the initial credit checks with no problems.
“It’s important to remember that different lenders may have different needs, so always double check everything before you ask anyone outright to be your guarantor. This will save you and the guarantor valuable time and hassle in the long run,” said the spokesperson.
GBP Loans states that anyone considering a guarantor loan, or any loan for that matter, should find out as much as they can about the company before beginning an application. They should carry out vital checks, such as ensuring that they are a registered company and that they have a consumer credit licence as required by law.
“Remember, the loan providers will have access to many details about you and your guarantor, so you need to be able to trust them before continuing. Check on money saving forums and review sites to see what others have to say,” said the spokesperson.
That’s where GBP Loans comes in. Simply by visiting www.gbploans.com, people can find the best loan to suit their circumstances. GBP Loans is an independent loans specialist with access to most guarantor loans in the UK and there are no upfront fees.
“As soon as you’re happy with your choice of loan provider, contact your potential guarantor. It’s best to have someone set up to help you before you begin the application process. This way, you’ll have everything you need straight away and you can get the ball rolling quickly. Filling in the application together can be a great exercise in trust. It also ensures that you’re both clued up on what the other has done so far,” said the spokesperson.
About GBP Loans:
Founded in 2008, GBP Loans specializes in no fee Guarantor Loans. GBP Loans is now one of the UK’s biggest providers, focusing on providing access to no fee, no obligation loans for people with a poor credit history.
