How do our Guarantor Loans work
Are you stuck in a set of loan related problems with no answer at sight? Well, it’s time to check out various loans that are available in the market, and make an appropriate choice.
With OCRIG Loans you can surely get best opportunity to make sure that your loan gets approved in minimum time and that too with a specified rate of interest. Apart from that, our terms and conditions are set in a way in which customers can get complete benefit while dealing with us.
What is a Guarantor Loan?
Amongst a variety of loan options that we offer, our speciality rests in Guarantor Loans. Unlike other types of loan, this is the one that does not need collateral against loan payment.
In this type of loan, we allow our customers to withdraw a certain amount of money as per their demands and our limitations. Against any type of collateral that is to be placed, we ask for a guarantor, who would stand in place of the borrower to pay off the money. It is against the signature and assurance of the guarantor that this loan can be taken for a stipulated time period.
Details associated with this loan:
There are certain financial details that are associated with this loan that would help people in understanding their needs and applying for the same.
- In case of short term loans, an amount of £100 to £750 can be borrowed. The repayment time period is within 6 to 24 months, with a Representative APR ranging from 304% to 842%.
- In case of long term loans, we allow our customers to withdraw amount ranging from £500 to £12,000, for a period of 7 years at a Representative APR of 44.9%.
Thus, with these options present, you can take full advantage of our Guarantor Loans and make sure to fulfil your requirements.
Steps to get this loan:
As per our norms to make the work process easy for our customers, we have made sure that certain basic steps are followed to get the loan. In this manner, getting an approval for this loan becomes comparatively easier.
- Check out our site for specific online form on Guarantor Loans.
- Fill in the details that are required.
- Attach a separate document stating requirement for this loan.
- Submit along with the details required.
After receiving this application, we make it a point to check:
- Validity of this application.
- Check details associated with concerned guarantor and ensure that both parties know each other.
- Check whether concerned guarantor has a debit card and bank account of valid nature.
- Give final approval for this loan.
Thus, with these steps, this whole process gets completed. The catch that is associated with this loan approval is that, all these details are verified within a period of 24 hours!
Benefits of this loan:
Contrary to other loans, this type of loans is more suitable for a person with poor credit score.
- Our credit score gets boosted as a result of your guarantor’s credit score.
- We make sure that we provide loans to people with a bad credit score as well. This will help them in financial domain and overall payment process.
- With us you can borrow quite an amount suitable for your need.
So, with us at OCRIG Loans you are bound to get the best!