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If you currently have a loan with us and have been affected financially by the COVID-19 pandemic, please click here for ways in which we may be able to work with you during these difficult times.

FAQs for Applicants

Can anyone be my guarantor?

Guarantor is a Homeowner (Click to Expand)

YES – A guarantor can be anyone who trusts you to repay the loan. Guarantor’s are usually friends, parents and other family members, but there are plenty of other people who you can ask like Work Colleagues, Neighbours or even your Landlord. They will just need to meet a few requirements. They must be:

  • A UK Homeowner (either the house they live in, or another which they own – mortgaged or outright)
  • At least 21 years old
  • No older than 76 at the end of the proposed loan term (If you are applying for a loan over a duration of 60 months, your guarantor can be no older than 71 when applying)*
  • In receipt of a regular income that is provable if required.
  • Have a good credit score

We have produced an article about how you can find a Guarantor, which you can read here. There is also a page dedicated to finding a Guarantor – here.

When you have found a Guarantor, if they require information about what is involved in being a Guarantor, who TFS Loans are, the application process or anything else, please ask them to visit our Guarantor Hub. They are welcome to call us on 0203 476 4170 (Mon-Thurs 8:30am-5:30pm, Fri 9am-5pm) and we will be happy to help.

*If you are also a homeowner, you may be eligible for a lower rate of interest. For this, the guarantor would need to be at least 25

Guarantor is a Tenant (Click to Expand)

YES – A guarantor can be anyone who trusts you to repay the loan. Guarantor’s are usually friends, parents and other family members, but there are plenty of other people who you can ask like Work Colleagues, Neighbours or even your Landlord. They will just need to meet a few requirements. They must be:

  • At least 25 years old
  • No older than 76 at the end of the proposed loan term (If you are applying for a loan over a duration of 60 months, your guarantor can be no older than 71 when applying)*
  • In receipt of a regular income that is provable if required
  • Have a good credit score

We have produced an article about how you can find a Guarantor, which you can read here. There is also a page dedicated to finding a Guarantor – here.

When you have found a Guarantor, if they require information about what is involved in being a Guarantor, who TFS Loans are, the application process or anything else, please ask them to visit our Guarantor Hub. They are welcome to call us on 0203 476 4170 (Mon-Thurs 8:30am-5:30pm, Fri 9am-5pm) and we will be happy to help.

Loans are subject to status and affordability. Consolidating debts may increase the term and the total amount payable.

Before entering into any credit agreement please make sure you can afford the monthly repayments, we recommend that you seek independent advice if you are unsure of any of the terms of our agreement. There may be other taxes or costs, not paid through us or charged by us, that you have to pay in connection with the agreement.

Late repayments can cause you serious money problems. For help go to www.moneyadviceservice.org.uk

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