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How To Get Guarantor Loans
Welcome | Welcome to Solent Loans. We are a company that takes care of your guarantor loan needs. We work based on 4 simple steps to help you acquire the loan that you need. No need to move from site to site applying for guarantor loans which may be declined based on your credit history. We are here to provide you with loans based on mutual trust that you will be in a position to repay the loan as required.

Understanding Guarantor Loans

Guarantor loans refers to credit advanced to borrowers who are able to provide someone to stand by the loan called a guarantor. The guarantor is expected to offer support to the borrower especially if one is unable to pay back the loan as required. Solent Loans offers guarantor loans ranging from £50 to £10,000 to be repaid in a period of up to 72 months.

There are two types of Guarantor Loans. These are short term and long term guarantor loans. Short term guarantor loans offer borrowers smaller amounts of money that should be payable within a short period of time sometimes running up to a few months. The amounts range from £50 to £500. Long term guarantor loans help borrowers get a higher amount of money that can be payable for a period running to 72 months. The amounts range from £500 to £10,000

Who Is A Guarantor

A guarantor is an individual who is willing to stand by you in a loan undertaking. This person agrees to pay back the loan on your behalf in case you will be unable to repay the loan. Guarantors can be found from among a number of individuals one associates with in life. It could be a relative, family member, friend, landlord, workmate, or employer. In case the borrower at some point is unable to make payment for the loan, the balance will be deducted from the guarantors account until the loan is repaid in full or until the borrower is able to resume payment of the loan.

It is no longer necessary that your guarantor should be a homeowner as it was the case in the recent past. As long as the guarantor is financially stable and has no record of a bad credit history, he can stand by you on a loan. He should also be an individual who is willing to assume responsibility on the loan in case you are unable to repay it at some point.

For some, the thought of finding a guarantor seems to be difficult. However, this is not usually the case. In life, you have individuals who trust you. These are the ones who can stand by you as a guarantor. As long as you are seeking to take up a loan whose repayments you can meet, these individuals will be ready to stand by you on the loan. It is also careful to think before asking one to be a guarantor. This is because making an unwise decision could jeopardize the relationship that you may have built over the years. If you need more advice about getting guarantor loans, please visit one of our partners, Direct Guarantor Loans.

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Simple Loan Process

Solent Loans has a simple loan application process that anyone can use. All you need to do is go through 4 simple steps and you will have the loan in your hands. The 4 steps include:

  • Loan Quote Application
  • Finding A Guarantor
  • Confirmation Of Loan
  • Disbursement Of Funds

Loan Quote Application

How Do These Contracts WorkWith the online application feature, you can apply for our guarantor loans from the comfort of your home. The quote application form is brief and can be filled within minutes. You can use our loan calculator on the site to calculate the installments you will need to pay on your desired loan.

Finding A Guarantor

How Do These Contracts WorkThe next step is to find a guarantor. You need to select a Suitable Guarantor who is able to guarantee your loan. The most suitable guarantor should be 21 years and above, has a steady source of income, is willing to take responsibility of the loan when you are not able to service it, and is a UK resident.

Confirmation Of Loans

How Do These Contracts WorkWe will call you for a chat regarding the loan. When you have all the things needed for the loan in place, your loan will be approved. And the proper documentation sent for signing. With this completed, you await to receive the funds.

Disbursement Of Funds

How Do These Contracts WorkDisbursement of the loan funds is usually carried out once the office receives all loan documents dully signed. With the guarantor agreeing to the funds applied for, all our team has to do is release the funds for their intended use. The repayment of the loan will be as agreed in the loan offer letters.

Benefits Of A Guarantor Loan

There are numerous benefits associated with guarantor loans from Solent Loans. These include:

  • You get flexible loan options
  • Your assets are not required as security for the loan
  • You have access to fast and simple online application process
  • You are not required to pay any upfront fees to access the loan
  • You are not offered loans based on your credit score but on your repayment ability
  • The interest rate fees are competitive and could see you paying a much lower amount
  • Fast disbursement of funds that range from within an hour or more depending on your speed of application