Welcome to Jalassoc Loans, one of UK’s premium lenders for Guarantor loans. Find out more about what we do and how we can be of help to you by going through our site.
What is a Guarantor Loan?
This is a type of loan that is unsecured, but for which you need a guarantor; that is, a person who is able and willing to meet the repayments on your behalf in case you find yourself unable to repay. The guarantor, however, may never be contacted if you make your payments in time. This type of loan is mostly for those of us with little or bad credit background, mainly because we do not conduct credit checks on the person acquiring the loan, but we do credit checks on the guarantor.
Requirements for Loan Applicants
- Must be over 18 years
- Must possess a UK bank account from which you will be making the repayments
- Must have a regular income so as to exhibit your ability to repay the loan
Requirements for guarantors
- Must be over 21 years
- Must have a good credit history which we check to ensure that he/she is able to meet the repayments in case you are unable to do so
- The guarantor may have to be a home owner especially if you are applying for a large sum of money. This acts as a form of equity to match the loan value.
How to apply
We are a direct lender and we therefore tailor our services to best meet your specific needs. You can get a loan ranging from £1000 – £7500 with a repayment period of up to 7 years depending on your financial strength. Our application process is easy and there are no hidden costs; and you can get your funds within 24 hours of your application. All you have to do is to select the amount you need to borrow and the length of time within which you can comfortably make the repayments. These two factors will determine the monthly repayments you will be making. Once done, you can click on the ‘Apply Now’ button which takes you to the next stage.
The second stage requires your guarantor and yourself to fill up forms with all details. Once this is done, a meeting is set up and our representative takes you through the whole process. You will be required to bring along such documents such as a proof of address, bank statements as well as identification documents.
Once satisfied with our terms and conditions and we have carried out an affordability assessment, your loan can now be approved or disapproved. If approved, the funds are transferred to your guarantor’s bank account from whence you can collect.