Frequently Asked Questions: Gamer Guarantor Loans
Here are some of the most frequently asked questions about the Guarantor Loans. Take a look at the following questions below to see the information you need about Guarantor Loans that you have been looking for.
1. What is a Guarantor Loan and what does it do?
– A guarantor loan is a kind of loans that needs you to have a guarantor so that you can get a loan. This loan does not require an applicant to have a good credit rating. Whether you have a bad credit rating or not credit rating at all, you can still apply for this kind of loan. Also, this loan is believed to have a lower interest rate compared to other loan. With the help of a guarantor, one can get their loan to be accepted.
2. Who is a guarantor?
– A guarantor is the third party who will be the primary requirement needed to get your loan be considered. A guarantor can be anyone such as your friend, workmate, or even a family member. The guarantor will be the one to co- sign the credit agreement. Also, the guarantor shall be the back up to pay the repayments, which happens if you fail to do so.
3. What are the requirements for one to be considered a guarantor?
– The guarantor must be 21 years of age, has a stable income, and must also be a UK homeowner. Unlike the loan applicant, the guarantor must have a good credit rating to be considered a guarantor. Normal credit checks will be applied to the guarantor, such as proof of identification, bank statements, and other relevant bank details.
4. Which company will give me the best guarantor loan that I need?
– There have been many companies who now offer guarantor loans. One which you should consider is Gamer Guarantor loans. This company offers the most competitive rates that you need when getting a loan. There will be no hidden fees which will let you pay more. Also, the application process is fast and easy which will be the best choice when getting your much needed loan.
5. What happens if I will not be able to do my repayments?
– You need to consult our company if you have problems regarding the repayments. You should tell it upfront to us so that we can solve any problem immediately. Once that you are really unable to pay for your repayments the guarantor will have to step into the scene. The guarantor who co- signed your loan agreement will be the one to make your repayments. However, if neither of you get to pay the repayments, then there will be legal actions to take place, only if all possible measures have been exhausted to solve the repayments problem.
6. Do I need to be employed to get a guarantor loan?
– You can be employed, self-employed, or even retired, just as long as you are proven to be able to pay the repayments. The guarantor loan application will be based the assessment on affordability.