Guarantor loans can be a confusing business so we have compiled some of the most frequently asked questions we receive from our customer to help you.
Our business is run by people not computers allowing us to look at loan applications on their individual merits, as long as you can show
us you can afford the monthly loan repayments and have a guarantor, you can apply for a guarantor loan regardless of your past credit
That really depends on how quickly you get the paperwork back to us, approvals are usually made the same day and loan payments made
within 3 working days.
A guarantor can be anyone who knows you and is willing to help you to get the loan that you need, they may not have the money themselves
to give you and this is the next best thing they can do to give you a helping hand.
Your guarantor is ideally someone in your life who trusts you and is prepared to back your loan application, as long as you can find
a person who trusts you enough to stand by you and your loan, then we can consider to lend you the money.
The best choice for a guarantor is someone who is aware of your financial situation and who already knows and trusts you, for example:-
- • Friends / Neighbours
- • Work colleagues
- • Your boss or employer
- • Landlord
You could also approach your family members who you might normally ask to help you out financially from time to time:-
- • Parents
- • Grandparents
- • Brothers / Sisters
- • Aunts / Uncles
In all instances it is best to explain why you need the money and prove by way of payslips or bank statements that you can afford
the repayments, that way your guarantor will feel more comfortable about providing the help you need. As long as you maintain your
loan repayments we will never need to contact them, they are only ever there as a safety net for the repayment of your loan.
Before choosing someone to be your guarantor they will need to meet the following conditions:-
- • A homeowner
- • Aged between 23 – 69 (at the end of the loan term)
- • Have a good credit history
- • Have a regular income
We are sure that you already have someone in mind and if they would be more comfortable speaking to us directly then we would be more
than happy to fully explain everything to them, just ask them to give us a call.
Your loan can be paid off at any time. All you need to do is contact us for a settlement figure and you will be given a rebate of interest due in accordance with the Consumer Credit Act.
We will consider most applicants regardless of their previous credit history, and providing you can find a guarantor, there should be
The applicant pays for the loan, we would only ever contact a guarantor for a payment if the applicant misses any payments.
You do not have to be working but you will need a regular income, we will consider any applicant who is in receipt of a pension or
investment income, unfortunately we can’t accept applicants that only receive state benefits.
Click here for our full fraud prevention notice.
- • If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies.
- • Law enforcement agencies may access and use this information.
- • We and other organisations may also access and use this information to prevent fraud and money laundering, for example, when:
- • Checking details on applications for credit and credit related or other facilities
- • Managing credit and credit related accounts or facilities
- • Recovering debt
- • Checking details on proposals and claims for all types of insurance
- • Checking details of job applicants and employees
Then please follow our compliants proceedure leaflet:
Which you can download by clicking here