London, UK -- (ReleaseWire) -- 02/19/2014 -- Buddyloans.com, a website that features guarantor loans to people in the UK, has just announced the launch of their new and user-friendly site. Unlike payday loan companies that feature interest rates that are sky high, Buddyloans.com is not this type of website, and they are proud to offer their clients a very affordable rate.
The founders of the guarantor loan website understand how challenging it can be to have enough money to make it through the month. Unforeseen emergencies like car repairs, medical bills and more can take already-stretched budgets and cause them to break. Unfortunately, those who have no credit or slow credit may be unable to work with mainstream lenders.
This is where Buddyloans.com can help. By offering guarantor loans between 500 and 7,500 pounds, the company can help people get through their tough economic challenges and hopefully alleviate some of their stress and anxiety in the process.
As an article on the new website explains, guarantor loans are based on trust, and allow a close friend or family member of the applicant to support their loan application by guaranteeing their repayments.
“It’s a system of lending that’s far more flexible than most modern loans which are often turned down when the borrower has poor credit or doesn’t own their home,” the article noted, adding that because each applicant has a buddy acting as his or her guarantor, there’s less risk to Buddyloans.com, which makes them even more happy to lend money.
“This means that we can reward you with lower interest rates and charges, and we won't put your home at risk if you default.”
In general, bad credit loans like the ones that are available through Buddyloans.com are readily available to most applicants, and because the interest rates are lower than payday loans, they take an even shorter time to pay back.
Anybody who is interested in learning more about guarantor loans is welcome to visit the new Buddyloans.com website at any time; there, they can read more about who qualifies to be a loan “buddy,” and why this type of loan is such an outstanding solution for so many people.
Buddy Loans is a professional guarantor loan company who are licensed by the Office of Fair Trading. The company provides loan of between 500 and 7,500 pounds over a period of 12 to 60 months. The company’s typical APR is 49.9 percent, making it much cheaper than payday loans. Buddy Loans grant loans based on the borrower’s ability to repay the loan, and the fact a buddy (guarantor), also feels they can and will repay the loan. All applicants are considered no matter what their previous financial history has been. For more information, please visit https://www.buddyloans.com/