UK Credit Limited ("UK Credit") is an unsecured lender providing loans via a variety of marketing channels to customers who are unable to get credit through more traditional means.
UK Credit differentiates itself from the majority of unsecured lenders by requiring the main applicant to have a homeowner guarantor who will step in and make payments on the applicant's behalf should they fail to make their payments.
The first "guarantor loan" was written by UK Credit in February 2010 and we now process over 1 million pounds worth of loan applications per month.UK Credit Limited is unique in many ways:
A guarantor loan is an unsecured loan. The applicant receives the benefit of the loan but the credit agreement is backed by a guarantee and indemnity provided by another person. This person must be a homeowner and must have a good credit history.
This means that, if at any time the debtor is unable to make repayments on their loan, the guarantor would be expected to step in and take over repayments.
The importance of evolving minds and technology is at the forefront of our culture.Based in Norwich, UK Credit offers customers:
Our customers have the choice to take an initial loan of between £1,000 and £5,000 with a term of between 12 months and 60 months, the longer term only being available for larger loans.
After 12 months our customers may be given the opportunity to top up their loan to a maximum of £5,000 over 60 months if all payments have been made on time.