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ROYAL LOANS

Welcome to Royal Loans. As a Guarantor loans quote site, we are here to help you solve all your financial needs when it comes to borrowing. Do you have pressing financial needs that needs emergency funds? You have come to the right place. We will help by matching you to the best lender and increase your chances of getting your loan application approved. Have you been trying to get a loan from other lenders and always had your application declined because of your past credit history? Well, this is your time to smile as we help borrowers get loans despite their bad credit history.

Welcome to Royal Loans. As a Guarantor loans quote site, we are here to help you solve all your financial needs when it comes to borrowing. Do you have pressing financial needs that needs emergency funds? You have come to the right place.

What Are Bad Credit Loans?

Bad credit loan is a term used to refer to money advanced by a lender to a borrower who has a bad credit history. Those who have a Bad Credit History are individuals who borrowed before but were unable to pay back the loan in good time or were unable to repay the loan in full. They may have had CJJ or may have been declared bankrupt. For these individuals, their loans may have had arrears and for some it later turned to a case of default.

Many lenders usually shy from giving credit to such individuals since they are unsure of the repayment of the loan in full by the borrower. They are usually looked upon as risky borrowers who can be unpredictable.

What Is A Guarantor Loan?

Guarantor Loans are forms of unsecured loans. In this loan, the lender usually requires that the borrower have a third party to sign along in the loan undertaking. The third party is usually referred to as the guarantor and this one is responsible for ensuring that all the payments will be met incase the borrower is unable to do so. There are both short term guarantor loans as well as long term guarantor loans. Royal Loans helps its clients get access to short term guarantor loans from a large team of lenders available in the UK region.

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A guarantor loan is classified as an unsecured loan. Normally, secured loans are those that have assets attached to the loan. However, in the case of guarantor loans, no assets are attached to the loan. Neither the borrower nor the guarantor is asked to provide assets that will be attached to the loan. The lender gives the money based on mutual trust that the loan will be repaid in full by the borrower. In case the borrower has difficulty, the guarantor will be expected to assume responsibility over the loan as a guarantor.

Secured loans are usually designed to protect the lender from risky borrowers. The lenders investment is protected since they have a fall back plan in repossession whenever the borrower has trouble repaying the loan. Unsecured loans for individuals with bad credit history have been hard to come by since not many are willing to lend when they are unsure of repayments being made to the full. Royal Loans comes in as a real solution to many who have a bad credit history.
There is usually no limitation as to who can be your guarantor. Initially, only family members could serve as guarantors. However, with time, this has changed. You can get a guarantor from your family circle or beyond. Landlords, workmates, friends, neighbors, or employers can act as your guarantor. However, they need to meet the criteria set for guarantors. The most important requirement is that they need to have proof of income and a good credit score. While the borrower may be allowed to have a poor credit score, a good credit score is a requirement on the guarantor’s side.
As long as you are a right candidate, you'll find it fairly easy to qualify for a logbook loan from one of our partners such as www.directguarantorloans.co.ukwww.directguarantorloans.co.uk. A guarantor loan acts as the best source of funds for individuals who have a poor credit score and those who have no credit score. These are individuals who usually have trouble getting money from banks and other major lending institutions. Royal Loans helps such individuals get suitable lenders who are willing to award you the funds you need. You however have to meet the lenders eligibility criteria which usually include:

  • You need a steady source of income
  • You must be a UK resident
  • You must be 18 years and above
  • You must be a UK bank account holder
If you meet the above stated requirements, you also need to ensure that your guarantor meets the requirements needed of a guarantor. These include:
  • Must be a UK resident
  • Must be 21 years and above
  • Must have a good credit history
  • Must be an individual not linked to you financially