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.

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Guarantor Loans FAQs (Guarantor)

Do you check my income and affordability?

Yes. This is an important part of our lending process.

During the application process, you provide us basic figures for your monthly income. From there, we require you to send us bank statements via our secure Open Banking-style service called ‘consents.online’ (an Equifax Group company).

We use these statements, as well as other proof of income such as payslips, SA302 (if self-employed) and pension letters to calculate your income and expenditure so we can build a full picture of your affordability to repay the loan.
If there is anything we require clarification on, we will contact you to discuss this and – in some cases – may ask for further information to be sent in.

It is one of TFS Loans’ key principles when approving any loan application, that we ensure all applicants and guarantors can fully afford to make the loan repayments.

All of our loans are subject to status and affordability.

You can read all about consents.online, via our trusted partner Account Score by visiting the website by clicking HERE

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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