SUCO is a loan provider who has helped many UK citizens deal with financial burdens even when other lenders wouldn’t accept them. Borrowers who apply for a guarantor loan using SUCO’s website deal directly with the lender rather than going through a broker. This means that they get the best possible product for their unique situations. SUCO is authorized by the Financial Conduct Authority and is a reliable resource that UK consumers can use to get a loan that takes the stress out of budgeting and meeting financial responsibilities.
APPLICATION REQUIREMENTS:
Those applying for a SUCO guarantor loan must be employed and must have income coming in every month. Applicants need to be UK citizens. Guarantors need to be UK homeowners between 18 and 75 years of age. They also need to be employed and bring in a regular income. The guarantor on a SUCO loan can be anyone. He or she doesn’t need to be related to the borrower. The guarantor can be the borrower’s colleague, neighbor, parent, or friend.
LOAN AMOUNT AND CHARGES:
With SUCO, you can take out a loan of between £1,000 and £12,000. These loans do not include any upfront fees, but they are subject to interest charges. Guarantor loans from SUCO offer low APRs that start at only 39.9%. For a loan of £12,000 taken out over a period of 72 months, a borrower given a 39.9% APR rate would pay a total of £393.17 in interest.
PROCESS:
Applicants for a SUCO guarantor loans need to apply online. The online application for a loan asks for basic information regarding the address, employment history, and bank account of both the borrower and the guarantor. After submitting the application, the applicant will receive a response from SUCO indicating whether he or she has been approved for a loan or not. If approved, borrowers can agree to the terms of the loan. Once the borrower has agreed, he or she will be sent the loan funds within between 24 and 48 hours.
PAYMENT:
The stress-free loan process offered by SUCO includes convenient options for making payments online. Also, borrowers have the option of paying their loans off early so that they can minimize the interest they have to pay over the life of the loan. Borrowers can pay off their loan in full at any time, and their monthly payments will never increase.
