The Guarantor loans have been a favorite choice among people in the UK. It happens because people could apply for the loan with good credit score. The high approval rate is the interesting point when you need to apply for the loan. This type of loan can be the solution when you have been rejected on applying for loans at the traditional lenders, such as a bank and a financial agent.
The service of the guarantor loan
The best guarantor loan lenders can be seen that the companies have been registered. Besides that, they will have a valid consumer credit license. Besides that, they could adhere strictly to the regulatory requirements of the Financial Conduct Authority (FCA).
Choosing the service of the guarantor loan is that you need to find the one with a low APR which is typically 49.9% or 39.9%. Selecting the lender of the guarantor loan can be seen by comparing the APR of the lender. Besides that, you should consider the cost factor of the loan which includes the representative example. The length of the loan should be part of the consideration because you will need to pay more interest accumulates over time.