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Masslending is a lender company in UK that offers different types of loan to cater the monetary need of the citizens. The Masslending Company is a direct lender but they have numerous partner lenders that will be able to help you on your loan.
Masslending thru their partner lending companies offer guaranteed loans. Guaranteed loans means it is a loan guaranteed by a third party in the event that the borrower fails to pay the loaned amount. This type of loan is often times guaranteed by a government agency that will purchase the loan from the financial institution that the borrower loaned from.
Applying for a guaranteed loan needs a guarantor for it to be process. A guarantor can either be a person that the borrower knows a close friend or a family member would be sufficed as a guarantor. It can even be a property under the name of the borrower to ensure that payments can be done. This type of loan is common in the lending market it is to ensure that the borrower will be able to repay the money the borrower loaned within the time that has been agreed upon by the lenders and the borrowers.
Guaranteed loans are often required for individuals who have a bad credit or for individuals who have experience bankruptcy in the past. Having someone or something as a guarantor for your loan will help you increase the chances that the loan you are applying will be approved.
For individuals who wished to apply a guaranteed loan in Masslending all they need to do is fill out the form that the site have provided it will not take them more than five minutes to complete the registration process. The online application from Masslending is a secured technology platform and they will automatically forward you to a panel of trusted lenders that will help find the best lender that will be best suited for your situation. Once the application has been accepted by the Masslending partner lenders they will be able to come up with the most acceptable loan offer that will be best suited for you. The lending company will get in touch with you and will be able to send the amount that you loaned within 24 hours.
The criteria for the applicants to be eligible for an application under Masslending are that the applicant during the application process should be 18 years of age and above. They should be a resident and citizen of the country. All application is subjected for review and credit check to ensure that the applicant will be able to repay the amount rendered to the Masslending Company.
Before applying for any loan under Masslending carefully think about the property that you used for a guarantor. If you do not keep up with the repayments on your loans your property might be repossessed by the company. Late repayments of loaned money might cause you serious problems and issues especially if you used your home as a guarantor for the loan they wished to acquire.