How they work

Batwan Guarantor Loans are known to be one of the most efficient loan companies there is in Scotland. We are known to provide excellent services that will always out our customers at their mist convenient position. Through our customer service skills, we will let our customers know what they need to know regarding guarantor loans. Through guarantor loans, people can get the money they need to immediately cover their expenses. What is also great with guarantor loans in Batwan is that you can get your loan through a short, medium, or long term basis. It will definitely be at your advantage, so this makes guarantor loans a better choice than the others. Also, this has a lower interest rate compared to other loans, which is also fixed in the monthly repayment scheme. It is a great help especially when it comes to budgeting your income every month. There is a set payment that you do not have to worry if it will increase or decrease in amount, so this makes guarantor loans at an advantage again.

Guarantor loans work with the help of a guarantor. This guarantor is important because he/ she will be the one to co- sign the agreement. This guarantor will also serve as the backup plan, in case that you fail to make your repayments. The guarantor and debtor’s requirements are somewhat similar to each other, but differs in one thing. The guarantor must have a good credit rating performance. The debtor, however, is not required. Whether you have a bad credit rating or no existing credit at all, you can apply for a loan. The guarantor can be anyone you want to be.

Mostly, these are friends, workmates, or even a member of the family. Some companies do not want to have a spouse for a guarantor, because they have the same financial obligations. This is the reason why some companies do not want anyone with financial relation to the debtors to be considered for a guarantor. The guarantor will then be contacted by the lender and email then the details they need to know with regards to this kind of loan. A bank check will also be necessary to see if the guarantor will be capable to handle the repayments in the unlikely event that the borrower defaults from the repayments. Credit checks will be done and other bank details will also have to be seen.

In guarantor loans, you can borrow up to £1,000 to £7,500. This amount can be paid for as long as 1 to 5 years. It all depends with your application and there are also circumstances that you have to consider. Also with guarantor loans, you do not have to be employed. You may be self- employed, claiming benefits, or anything as long as you can pay for your repayments. The loan will be based on your affordability, so just as long as you can handle the payments, then you can get approved of your loan. With Batwan Guarantor Loans, you can be at an advantage.