- Emma Anderson
- December 26, 2018
The financial needs are quite determined. When they come, they need assured attention and good treatment with adequate funds. Friends, family, savings, loans, no matter how do you arrange the funds, the need has to be fulfilled. In such situations, don’t you think, the solution should also accompany the surety of its existence? Certainly, it should. Circumstances are critical if the need is of huge funds. Do you have anything in your mind? Maybe yes, maybe no. Ok no issues, by the time you think about something potentially in the name of the solution, it is perhaps that not bad to think on an option.
The guaranteed loans that are now available online too can be one of the ways to tackle any money mess. These are the long-term loans that provide assistance and financial stability for a longer time with guaranteed approval. Whether you want to buy a car, or planning a home renovation, or shifting home, or need funds for a big investment, guaranteed funding can play a significant role. Many things come with it as the features and in turn, benefits that can help you bring back the stability in your financial life. The figure below can be a short introduction to the positive aspects of the guaranteed funding.
The above are the obvious features to accompany the guaranteed loans. Let us take them one by one and explain their importance for you as a borrower.
Only online procedures – The new age lending has its impact everywhere and every loan product is now available online. The guaranteed loans in the UK are not the exception and you can get funds through simple and only online procedures. There is no documentation and physical verification in the process. However, some basic financial and personal details are required when you fill the form but nothing much more than that.
Affordable rates – These are the loans with the obligation of a guarantor. When someone is there to back your loan application, the lender has a guarantee of the repayments. This covers the risk of lender and then the interest rates get lower. Once the rates are in your favour, the complete deal becomes affordable.
Instant approval decision – The approval decision is fast. The obvious presence of the guarantor makes the approval decision easier for the lenders. In fact, the approval comes with a guarantee. After a few minutes of the submission of the online application, the decision comes. When the need for huge funds is urgent, this feature proves greatly helpful.
Timely disbursal of funds – You may think that the long-term loans take longer time to disburse. This can be true but in mainstream lending, not in online methods of borrowing. Shortly after the approval decision, the funds reach to the bank account of the applicant that is registered with the lender. Once the application procedure is over, there is no further formality to get the funds transferred. The first few steps are enough to bring the deal to its end and ends with the money transfer in your account.
Customised repayments – Repayment plans are flexible enough to match to the customisation needs. Every borrower has different repayment capacity and that is why the repayment plans for all cannot be the same. The lender offers the tailored repayment plans and you can choose from them. Several loan companies make it more convenient by providing the facility to change your repayment schedules. This has no impact on instalments, just the date of paying the instalments can be changed.
Due to the great demand for the guaranteed funding, several lenders are providing funds to the borrowers despite unemployment. This gives a better option than the short-term loans for unemployed that are much higher in rates and have less amount limit to borrow. In that case, some lenders are easy to convince with collateral, as it is not easy for a jobless to get someone to back the loan application.