GuarantorMyLoan Refund Claims
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Launched in Norwich in 2014, Guarantor My Loan “aims to help borrowers who feel let down by banks and other traditional lenders which won’t lend to them because of a blemished or non-existent credit record”. Consumers could borrow a guarantor loan between £1,000-£10,000 over 1- 5 years.
Like all lenders, Guarantor My Loan should have carried out the correct checks before issuing a loan. If you found yourself unable to pay back the loan, you may be eligible for a loan refund.
Complaints about high-cost loans have “leapt up to 250% a year”, with the most common complaints relating to affordability, with non-adequate financial checks being completely properly by many loan lenders.
What type of loans do they offer?
– Peer-to-Peer Lending
– Guarantor Loans
Guarantor My Loan Eligibility Requirements for Borrower:
Minimum age of 18 and be able to make the repayments.
Guarantor My Loan Eligibility Requirements for Guarantor:
Minimum age of 21, be a UK Homeowner or tenant, with a good credit history.
Must be able to make the repayments if the borrower does not pay.
Guarantor My Loan Loan Example:
Representative Example £3,000 over 3 years, representative 48.9% APR fixed. Monthly payment £145.17.
The interest is 10% per annum fixed and service fee is 30.48% per annum fixed.
Interest payable £549.95 and service fee payable £1,676.17.
Total repayable £5,226.12
Guarantor My Loan is registered at the following address:
Guarantor My Loan, 4th Floor, 25/27 Surrey Street, Norwich, NR1 3NX
Telephone Number: 01603 391013
Why could I receive a Guarantor My Loan Refund?
If any of the above statements apply to your experience with Guarantor My Loan, you could be eligible to claim compensation. Start your claim or get in touch with the experienced Retail Experts team who will guide you through the process. We are here to help.