UK Credit Limited
UK Credit Limited are providers of guarantor loans to customers across the United Kingdom who are looking for an alternative to the traditional lending sources such as banks or building societies.
They are based in Norwich, and are authorised and regulated by both the Financial Conduct Authority and the Information Commissioner's Office. This means that their borrowers can have confidence in the security of their personal data.
loans, such as those offered by UK Credit Limited, are becoming increasingly popular. This is because they don't disbar people who have had problems with credit in the past, or who don't have sufficient credit history
to satisfy the major lenders.
Rather than relying on a computer score to say whether a person is capable of paying their loans back on time, they rely on the word of somebody who really knows them: the guarantor. This guarantor has to be a person who knows the applicant very well, and is often a close friend or family member. The guarantor can be either a homeowner or a tenant, but they can't be financially linked to the applicant, which means that spouses aren't permitted.
If the original applicant is unable to pay back the loan, then the guarantor will have to take over the payments. For this reason, it's essential that the guarantor can afford to pay back the loan, and that they have a good credit history themselves.
The interest rates provided by UK Credit Loans are fixed, so they won't increase whilst the loan is running. Up to £7,500 can be borrowed, if the guarantor is a homeowner and it can be repaid over as long as 5 years. If the guarantor is not a homeowner, then the maximum amount that can be borrowed is £3,000, paid back over a maximum of 36 months.