You may think guarantor loans are a new concept, but guarantor loans were how banks may have loaned money out before credit scoring was introduced, in the olden days all you needed was someone that trusted you to guarantee your loan like a family friend who owned their own property and was more financially stable to help you get the loan you needed.
A guarantor loan isn’t secured against the guarantor's property. They are there as someone who is more financially secure to guarantee repayments if you fail to do so, hopefully it will never come to this.
Guarantor loans are often suitable for those with a poor past credit history, little or no credit history as it can be harder obtain finance without obtaining it previously and this will help you to obtain the finance you need but with someone that guarantees your loan. A guarantor loan may also allow you to borrow a higher amount than you may be able to get without a guarantor. A guarantor loan may also put you on the right path to rebuilding or improving your credit history by demonstrating that can make repayments on time and that you are a responsible borrower.
When it comes to applying for a guarantor loan it is important to ensure you will be able to make the repayments over the life time of the loan without any difficulty or hardship.
As a responsible lender we will do everything possible to make sure you can make the repayments of your loan as well as on time whilst making sure it is the right product for you.
All credit is subject to meeting our credit worthiness and affordability criteria.
You must over the age of 18 years old and have UK bank account where repayments will be taken. You will need to provide proof that you can afford the repayments and also making the repayments on time as agreed.
To begin your application, click here and follow the on screen instructions.