If you’re jetting off on a long weekend, your honeymoon, or even around the globe, a loan can be a smart way to fund your travels.
Ideally, you’d use savings, but that’s not always possible. You may need to spread the cost over months or even years. A holiday loan can be an affordable option, allowing you to borrow what you can afford to repay.
A holiday loan can come in all shapes and sizes, but a guarantor holiday loan can be a useful, flexible option.
If you have the sudden urge to travel or are presented with an unexpected exciting opportunity, you may find yourself needing money quickly, and a loan can often be approved swiftly. A poor credit history often isn’t an issue for some loan options, making a holiday loan accessible for anyone.
A holiday loan is often flexible with price and may, depending on the lender, cover over £5,000. Therefore, you could pay for your holiday costs as well as any spending money that you may need.
A poor credit history, or the lack of one, can be a barrier for many when looking to borrow money. It may lead to some lenders rejecting you, but that doesn’t mean that you’ll not be approved for a guarantor loan.
A guarantor loan is a great option for people with bad credit. Having bad credit or the lack of a credit history doesn’t necessarily mean you’ve been bad with your money. Sometimes it just comes down to the situation, and that doesn’t mean you shouldn’t be able to have the holiday you want.
A guarantor loan uses something called a guarantor, which is a person who acts as an extra level of security for a loan. They are there to make sure they make any payments that the borrower misses. As such lenders are more likely to approve people with bad credit, as there’s a reassurance that the money will be paid off.
You must have an agreement in place with the guarantor before applying and should understand how a guarantor loan works and what means for you and that person. A guarantor is generally someone you know well, but for more information on who can be a guarantor, check out our guide.
A holiday loan is just like a loan for car finance or buying a new kitchen. It doesn’t matter what your travel plans are, whether they’re a short staycation, a city break in Europe or something more adventurous over a longer period, a holiday loan can help make your dream trip a reality. The only thing a holiday loan can’t help with would be travelling for a more extended period, as a loan would be approved based on your current circumstances, and you’d be expected to pay it off based on those.
It’s just like using a loan for any other day-to-day purpose. As with any loan, you should think carefully before deciding to take out a holiday loan. You must be confident that you can make the repayments and that you can afford to pay it back overall.
Find the best deal on a holiday loan and compare guarantor loan lenders using the tool on our home page. Once you’ve done that, you can apply for your guarantor holiday loan with us too. As experts in guarantor loans, we can help you find the best loan and best lender for your specific situation, even if you are trying to find a holiday loan with bad credit.
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