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While many people are dismayed to see a rise in lending in the UK in 2017, there is comfort to be found in the fact that the nature of lending is evolving. Different people require financial assistance for different reasons, and this is why it is good to know that there is a wider range of options on offer to people who need help. Someone buying a home needs a very different level of support from someone who needs car repairs carried out quickly, and there should be suitable funding options available, to meet all needs. This is why the news that guarantor lending is increasing in 2017 is good news and means people can find the most reliable solution for their needs. There are many reasons why this style of loan is a fantastic option and the property market provides an excellent starting point, when considering the role these loans can to play in modern life.

Up-front fees associated with moving property

No matter what move you make in the property market, there are up-front fees involved and this can put a strain on your ability to conclude a deal. When it comes to mortgages or rent, there is a focus on the long-term, budgeting to meet monthly payments from year to year and the need to have a secure financial footing at the start of the process, can often be overlooked. There are obviously a lot of guarantor mortgage options to choose from, which can help people at a very important stage in their life, but these aren't for everyone. There is a need for a high level of flexibility when it comes to finance and while SUCO doesn't offer guarantor mortgages, it can provide assistance for people moving in the property market, thanks to its guarantor loans, available for possible bridging finance situations. With so many initial costs associated with buying a home or renting, more flexibility is needed at that point in time. An extra month's wage could make all the difference with respect to the bills to be paid during a move but the companies, lenders and landlords don't offer this facility.

Obtaining a guarantor loan, allowing people to get the money they need up front and then having the opportunity to spread their payments across a number of months, will provide the freedom and flexibility that helps to make a property move a reality. In this regard, the range of SUCO guarantor loans provide comfort and peace of mind for people considering a move to a new home.

Another cost associated with property that can place people under stress is home improvements. Whether someone is looking to add value to their property or just wanting to make sure their home is a more hospitable and welcoming one for their own needs, maintaining the standard of property is a smart idea. Of course, anyone needing repair work carried out will find that arranging this quickly is essential but it can often be expensive and place finances under great strain. This is another area where the flexibility of a guarantor loan will help people to care for their property, without causing themselves too much hardship.

Special occasions can put a temporary strain on people's finances

While focusing on your home is vital for people in building a happy and healthy life, we often live for the special moments in life. These are the times when people come together, spending quality time with friends and loved ones. A home is important but for many folk in the present day, it is the moments we spend with the people we love that matter most but of course, these occasions can be expensive. Anyone who has planned a wedding or enjoyed an engagement celebration, will know that the costs involved can place peop[le under enormous financial pressure. Particularly if the wedding or engagement coincides with a property move. Financial Flexibility is essential because there are payment deadlines for the costs associated with these events, which need to be budgeted for.

A guarantor loan can be the perfect way to finance everything they need to pay in order to create a fantastic party or event, while easing the financial pressure substantially. Sometimes all you need is a bit of breathing space and an additional month or two, to arrange everything to your liking and this is often the key reason people turn to guarantor loans.

Guests at these events have a lot of costs to consider including buying gifts, transportation, new clothes, possible accommodation and the costs of celebrating and having a good time. A great occasion with friends and family, whether you have organised it or not, doesn't always come cheap.

Even issues like booking a much-needed holiday to recharge your batteries and enjoy time away with loved ones, or the cost of studying to better yourself and create improved career options, can be expensive. Guarantor loans provide flexibility in many situations and this is why this style of loan has a part to play in modern life.

This finance option can even be of benefit to the growing number of small businesses emerging in the UK. To a small start-up, tax payments and unexpected bills can have a devastating impact on their organisation, and knowing that there is a helping hand to pay bills on time, without compromising cash flow, is a great benefit. As more and more people set up small businesses, the ability to access funds when cashflow is tight, is a tool essential to the survival of any new business.

This hasn't even touched upon the one-off bills that an individual may face for a variety of reasons.

Guarantor loans are considered to be a good solution for people having to deal with:

  • Medical bills
  • Legal fees
  • Vehicle repairs or replacements
  • White good repairs or replacements
  • Helping family members out

While you can plan all you want in life, there are many times when something unexpected happens and you have to respond quickly. It isn't always possible for people to have as much financial support as they would like but with guarantor loans there is an additional level of support, that can provide peace of mind and flexibilaty when it is most required.