Guarantor loans Vs Cash Loan Lenders - 2015

Guarantor loansare a type of loan where a guarantor is required to get the loan. The guarantor acts as a guarantor in the case that you were unable to repay the loan and what you owe. Over the past 5 years guarantor loans have become very popular for people with a not so perfect credit rating or have a low credit score.

Amigo loans were one of the very first guarantor lenders on the market and since then the market has grown and they are now a very popular course of credit and loans for people with adverse credit.

Guararantor loans can be for loans in the region of £1000 to £7000 and repaid over 1 year to 5 years depending on the type of lender you choose. Guarantors can either be homeowners or tenants, must be over the age of 18 and working in full time employment. Each lender will also have a minimum income requirement for both the guarantor and the loan applicant. Guarantor loans allow those who would have otherwise been refused credit the chance to get the loan they need at a fair rate of interest.

More information on guarantor loans and the differences can be compared here: http://www.guarantorloans.me.uk/guarantor-loan-vs-short-term-loan/where you can see the difference between loan rates, charges, repayment terms and loan amounts.

What is a cash loan?

The term cash loans is generally referred to with regard payday and short term loans that are small amounts of money repaid over the short term. Typically these types of loan are for amounts of £50 to £1000 repaid from 30 days or within a couple of repayments. Loans like this are generally complete online with an instant or sameday decision given. Cash loans are generally only used in an emergency situation or when money is need until payday.

Loan comparison tools

There is now a wide range of online tools and websites that allow you compare loan rates and offers across the market place. Websites like these allow you to see which loans are the cheapest and offer the best value and meet your loan requirements. Most of these types of websites earn a commission from the lenders to appear within their search results, or they make money everytime they refer a customer.