Representative Example: Borrow £4,000 and pay back your loan over 36 months. Monthly payments of £194.78.
Total amount repayable is £7,012.08. Interest payable is £3,012.08. APR of 49.7%. Interest rate of 41%. Fixed rate.
Lowest APR Guarantor Loans
We can help you find the cheapest guarantor loan available based on your personal circumstances. A low Annual Percentage Rate (APR) is especially important if you are borrowing a large amount, as it can drastically effect your total repayment. Use our payment calculator to see an example of a loan at our representative rate, 49.7%.
The rate you can get generally depends on your and your guarantors circumstances, mainly your residential status. It is also based on how much you want to borrow. For example, if you and your guarantor are both homeowners and want to borrow £15,000 then we could get you a rate lower than our representative. However, if you and your guarantor are tenants and want to borrow £1,000 then the best rate we can do will be much more in line with our representative example from our loan calculator.
The best thing to do is to speak to us to find out what interest rate is available to you. Speak to our loan experts today by making an application on our simple form.
Cheap Guarantor Loans
If you are looking for a low APR guarantor loan we can definitely help you out. Compared to non-guarantor, bad credit lenders, you can often get a much better rate by using a guarantor loan. Rates vary from 39.9% to 69.9% depending on your situation, or more specifically, who your guarantor is and their situation. If you are looking for the cheapest rate available apply through Talk Loans and we will talk you through all of your options how to get the best rate in your situation.
Guarantor Loans With A Low APR
In order to get the lowest APR guarantor loan on the market you need to be a homeowner. Not neccessarily and easy feat! However if you are a homeowner, if you can find a homeowner guarantor to compliment your application then we will be able to get your the most competitive rates on the market. The reason for this is that the lender has a greater amount of security, and even though the loan is not secured against your property, if it is not paid back they have the option to take out a charging order on your property. This means that if your house was ever sold, the lender would be able to claim the loan back from the value of the property.
If you are a tenant, you can still take advantage of low interest rates if you can find a homeowner guarantor. While in some cases you may not be able to get the same rates as a homeowner, they do come very close. If you are borrowing a larger amount the interest is likely to be lower as well. If you can not find a homeowner guarantor you will be stick with a more industry standard rate of around 50%, while this may seem high this is a great deal compared to some of the other poor and fair credit loan options on the market.
Low Interest Guarantor Loans
So how do guarantor loans low interest rates compare to other loans on the market? Here is an example of what could be available from an unsecured personal loan lender if you do not have a good credit history, in this instance we are using Likely Loans as an example:
|Loan Value||Loan Term||Example APR||Payment Each Month||Total Interest|
In order to get these rates you need to have a fair credit history. You can see not only are you paying a higher representative APR, you are also restricted heavily when it comes to the loan amount you can borrow. If your credit isn’t fair then the rates go even higher, and that’s if you can get approved for a loan at all.
Overall a guarantor loan with a low APR is a great way to borrow if you have a less than perfect credit history. Apply now or call us on 01603 391104.
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Guarantor Loans Representative Example: Borrow £4,000 over 36 months. Monthly repayment of £194.78. Total repayable is £7012.08. Interest payable is £3012.08. Fixed APR of 49.7%. Interest rate of 41%. Representative APR 49.7% (fixed).
Personal Loans Representative Example: Borrow £300 over 6 months. Monthly repayment of £92.43. Total repayable is £554.58. Interest payable is £254.58. Fixed APR of 883.6%. Interest rate of 169.7%. Representative APR 883.6% (fixed).
Talk Loans is a Broker, not a Lender. To operate this service we receive commissions from the lender or broker we refer you to. To apply for a loan though our website you must be a UK resident.
Talk Loans is a trading style of Butler Westbury Limited Registered in England No 9035270. Authorised and regulated by the Financial Conduct Authority Reference No. 625156. Registered with the Information Commissioner’s Office ZA090336. Registered office address: 3 Cricket Close, Drayton, Norwich, Norfolk, NR8 6YA