Any lender needs to be sure you can repay the loan you are seeking. This will be judged on your previous credit scores. Having a good credit score will make you eligible for a wider variety of lending with better interest rates. Generally, banks will not lend you to you if your credit score is poor or you don’t have one. There are ways you can get a loan with poor credit. If you can provide a guarantor, and you both meet our affordability criteria, you may be able to get a guarantor loan from 1Plus1.
The financial markets have expanded greatly over the past few years. Loans can easily be accessed from home or office, often with instant approval. These can include short-term payday loans as well as bad credit personal loans. All you need to do is choose a reputable online lender and you’re good to go.
Your credit score has a big influence on the interest rates you may be offered. The better your credit score is, the better the interest will be on the loan you are seeking. With bad credit, lenders tend to use that to their advantage and charge you more! Regardless of how good or bad your credit score is check the rates with a number of lenders, and see which offers the best terms and best rates.
If your credit isn’t good enough for the lender you first applied to, it doesn’t mean it’s not enough for other lenders. 1Plus1 guarantor loans rely on more than just credit scores. Don’t assume any chance of getting a loan is gone just because one lender says so. Get your most recent credit score and with it, check out the options you have. A credit score will range from excellent, very good, good, fair, and poor.
This gives you a chance to get a loan with good terms regardless of where your credit score lies. What differs is the rates and terms you will get as your credit score lowers. Therefore, before you conclude on your own that your credit score isn’t enough, take the time and look at it. Having it at hand helps get you a loan with better terms.
Choosing where to get a loan can be difficult. There are different loan types that are designed for those with high or low credit scores. If you have a poor credit score, it can be really difficult! A guarantor loan from 1Plus1 guarantor loans may be able to help you.
Guarantor loans are a type of loan taken out with someone else and can be one of the most secure loan types available for those with a poor credit score. A guarantor loan is often taken out with a family member who would become responsible for paying back the loan if you are unable to do so. This means that both of you must meet 1Plus1’s guarantor loan affordability and creditworthiness assessments.