Loan With Guarantor Non Homeowner – Need a new car? Want to consolidate debts? Need a loan but have bad credit? Do you have a family member or close friend that has offered to be a guarantor for you? Are they a non homeowner?
If all these statements sum up your current circumstances, then applying for a loan with guarantor non homeowner may be your best option to get the cash you need. There are many reasons why you may have found yourself needing a guarantor to help you be accepted for a loan.
The main reason for applying this way is to get a better chance of being accepted as on your own you would not have a great chance of being accepted, due to a poor credit history.
Get A Loan With Guarantor Non Homeowner
Having a bad credit history is usually due to not keeping up with other financial commitments you may have. This is turn has a detrimental effect on your chances of getting a loan. However, a loan with guarantor non homeowner agreeing to ‘go in it with you’ helps your chances of being accepted.
Whether you are applying for a loan, credit card or even a mobile phone, opening any kind of credit account means the lender will look at an individual’s credit score to decide whether they will accept or decline the application.
If you have checked your credit rating or are aware that your credit history does not look that good it is highly likely you will be declined for a standard loan.
Who Can Be A Guarantor?
However, if you have a very kind friend or a close relative that is not a homeowner that is happy to be a guarantor for your loan application, then a loan with a non homeowner guarantor may be your answer. When you have a bad credit score you will be seen as a higher risk to lenders.
From your past experience of having finance you have not managed your money well and so from the lenders perspective they may have doubts that you will pay back the agreed amount.
However, we can help you find a company that will work hard to lend to you regardless of your credit rating a loan with guarantor to increase your likelihood to be accepted. So, who can be a guarantor? Such loans are open to those that have family or a friend that are tenants that are happy to be a guarantor for the loan. A lot of people ask us “Can I be a guarantor?”
By agreeing to be a guarantor if the applicant falls behind on the payments it is up to the guarantor to pay back the loan. A good way of using a loan with guarantor non-homeowner is to help build a good credit score by staying below your credit limit and ensure you pay the agreed amount on time.
A bad idea when getting a guarantor loan is borrowing more than you know you are able to pay back and getting yourself in more bother financially, but also the person that has put their name down as a guarantor. Click on the links on this page to be taken to lenders that can offer loan with guarantor non homeowner plans for applicants that are finding it hard to be accepted elsewhere due to their poor credit score.