Piggy guarantor loans are the loan offered for people having any type of credit history. No matter how bad is your credit history, piggy loan is always there to help you and give you the amount you need, which makes you’re your best friend as we are helping you in need, indeed. You can easily get the loan and even easily repay it to us. Here in this article, I have collected some information regarding the pros and cons of the piggy loan. Take a look:
Pros: piggy guarantor loans are the best solution to bad credit history, which is also the best advantage for this loan. When no bank is offering you loan, piggy loans provide you with an amount of £1,000 to £10,000. With the period from 1 year to 6 years, you can repay the lend amount easily. Piggy guarantor loan is easy to apply and anyone is eligible for it. Piggy loans offers high acceptance rates with APR as low as 39.9% only. We have no check on the use of the money you lend. You can buy a house, start a business or can do any other thing you want. You can also repay the amount with no penalties, which means you can minimize the total amount to repay by repaying the total amount as soon as possible. In this way, you can easily improve your credit score as well. After this, you will be eligible to apply for the other loans with big amount to fulfill your big needs. Moreover, both of the tenants as well as homeowners can apply for the loan. Finally, there is no upfront fee for submitting the application, which means you can apply for the loan anytime you need.
Cons: with so many above mentioned advantages of piggy guarantor loans, there are also a few disadvantages which you must be aware of before applying for it. The main disadvantage of guarantor loan is that you might make your relations bad with your guarantor in some situations (in case you fail to pay). Secondly, many times, the guarantor loans have a number of hidden charges which may increase the repay amount to double which you borrow. So, you have to read the term and conditions of the guarantor loan carefully.
To avoid these cons, you have to be a little tricky and wiser. Carefully go through the terms so that you come to know about the hidden charges of your loan. You must also minimize the period of repaying the borrowed amount to that the total interest or APR would be less. In this way, you can minimize the total repay amount. You can visit the official website of piggy loans to get more information and can make your decision wise. So go on, fill up the 60 seconds form and get your loan today. You can bring smile to your family in just few steps, so what to wait for. Improve your credit score and shine like a pro. Have a nice day!