Frequently Asked Questions

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How will the loan be paid to me?

How will the loan be paid to me?

The loan will be paid to your guarantor 👩🏻‍🤝‍🧑🏽

Via bank transfer into their bank account (why do lenders pay to my guarantor?)
After which they are required to transfer the funds over to you

Typically, there is no charge for the bank transfer.

> Everything you ever wanted to know about being a loan guarantor <

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For loans over £1,000

Representative 49.9% APR

Representative example: If you borrow £3,250 over 36 months at a Representative rate of 49.9% APR and an annual interest rate of 41.16% (fixed), you would pay 36 installments of £158.57. The total charge of credit will be £2,464.57 and the total amount payable will be £5,714.67

For loans less than £1,000

Representative 99.8% APR

Representative example: If you borrow £500 over 52 weeks at a Representative rate of 99.8% APR and an annual interest rate of 99.8% (fixed), you would pay 52 weekly installments of £13.41. The total charge for credit will be £197.32 and the total amount payable will be £697.32.

IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk