What does being a Guarantor mean?
Being a Guarantor on a TFS Loan allows someone close to you, who is struggling to get a loan from their high street bank or other online provider, to get a Guarantor Loan. Often younger people who have no credit history, or people who have a poor credit history as a result of a past issue, may find it very difficult to get access to many forms of credit and a Guarantor Loan can be their only option.
TFS Loans are Guarantor Loan experts. Guarantor Loans are “what we do” and we were one of the first providers in the UK. We are also the only Guarantor Loan provider in the UK who loans up to £15,000.
If you decide to be a Guarantor for someone applying for a TFS Guarantor Loan, you should ask yourself a number of questions related to why they need the loan , what they will use it for, what their ability is of paying it back and whether you are able to pay it back if they cannot? We have created an infographic to help your decision making process. If you have any other questions don’t hesitate to call us on 0203 476 6438, or visit the Frequently Asked Questions page for Guarantors on our website.