Wednesday, 25 May 2016 22:53

Quick Loans Launches ReLoan – The New Lending Service

We are pleased to announce that we have launched our latest lending project called “ReLoan”. ReLoan is a site that reduces prices for the Guarantor Loan market through competition, not gimmicks or regulation.

Visit ReLoan

It’s not often that a truly competitive platform opens. One which even our fiercest critics would agree is a money saver with no downside, no increase in debt. That is exactly what we have here with ReLoan.

ReLoan offers those with an existing Guarantor Loan from one of our competitors the chance to move that loan to us and we will cut the interest they pay in half. From 50% APR, all the way down to just 25% APR.

That means they can simply reduce their monthly repayments, or they can keep the same repayment level each month and have the loan term completed much earlier.

ReLoan will pay the money directly to the existing lender to ensure that the borrower isn’t tempted to keep the money and get into more debt rather than pay off the existing loan. The Loan will also still be guaranteed by the same person who guaranteed the original loan. Everything will stay the same except for the amount is paid, and who it is paid to. 

There are no credit checks for this type of loan due to the fact that the borrower and guarantor have already been granted a loan.