Payday Loans

1
Amigo Loans
2
increasingly difficult

• For some getting loans in UK is becoming
  increasingly difficult with the changes in
  regulations that have been direct payday lenders
  brought over since the FCA took over the
  financial industrys regulation.

3
(No Transcript)
4
aspects to be considered

• who is liable to pay off the loan in case the
  borrower defaults. There are a lot of aspects to
  be considered when taking out aguarantor loan and
  they apply for both the borrower and guarantor.

5
the credit report
6
the guaranto

• The loans should still be assessed in a way which
  could be affordable to pay off for the borrower,
  but in case the borrower defaults on the
  payments, the guarantor has to pay off the
  payable amount.

7
(No Transcript)
8
CONDITIONS FOR BECOMING A GUARANTOR

• For becoming a guarantor, most banks will ask for
  the guarantor to have great credit ratings,
  sometimes along with a house for security. Some
  organizations in UK like Amigo loans will prefer
  a guarantor with a house

9
(No Transcript)
10
Considerations for a guarantor

• Before giving out guarantor loans, lenders check
  the credit history of the guarantor to see
  whether they have any negative markings in their
  credit history. 

11
(No Transcript)
12
significant amount

• People planning to act as a guarantor need to
  think very carefully about what they are doing.
  Having a significant amount of trust.

13
Assessed in a way
14

• Thank you
• More info-
• http//www.bfwggrants.co.uk/