The Stag-Parkway Guarantor loan is the type of unsecured loan that requires a second person as a guarantor to pay off all the debt if the borrower defaults the payment. The guarantor co-signs the agreement with the lender and the borrower and he takes the responsibility of paying off the whole debt in case of any default by the borrower.
These loans are often an alternative when there is no other source of money in case of an emergency. These loans can also be used by the borrower if they are facing problems due to a bad credit card. As we know, people with the bad credit ratings suffer more problem if they need any loan. But we believe in the trust and quality services. Therefore, loans with Guarantor is among the top most lending companies of the United Kingdom.
The Stag-Parkway Guarantor Loans are one of the best because of the low-interest rates that we offer. We have links to the top most lenders in the United Kingdom so that they help our customers with the very low-interest rates as not to add further stress on them.
What Are The Criteria For The Guarantor Loan?
If you are the one applying for the Stag-Parkway Guarantor Loan, then make it sure that you are above 18 years of age and you have a bank account so that you will be easily available to repay all the money through your bank account.
Moreover, you have to show that you can easily repay the money back as you have enough resources or you have enough monthly income that it is easily affordable for you.
A guarantor for the Stag-Parkway Guarantor Loan must be above 21 years of age. Your guarantor must possess a good credit card score. This is usually ensured that he is able enough to pay all the money back if the borrower is not able. Therefore, he must have a good credit card rating.
The guarantor can be any person related to the borrower. He can be his family member, his friends or even his colleagues. But there must be one thing that the guarantor must not be linked financially to the borrower. He must have his own source of money and he should not be dependent upon the borrower financially.
Credit Card Ratings:
If your repayments are received on time and you have paid your all the repayments within the time specified then we will help you in improving the score of your credit card. So, it’s also one of the best options to improve the rating of your credit card when you find no other way.
But, if any repayments are not paid back to the lender within the time specified, then the whole responsibility lies to the guarantor. It is now the guarantor who has to pay back the whole payment. And if both are not able to pay the repayment within the time specified, then the lender is legally authorized to take the matter to the court.