Someone you know has applied for a loan and they need to have a backer to support their application. Read More
You need to be between 18 and 75 and a UK resident. For all criteria click here.
A regular income so the loan is affordable, plus a clean credit history. Read More
Loans do not appear on the guarantor’s credit file. Read More
You're liable for the full balance of the outstanding loan from the time the borrower stops paying. Read More
It's possible. Other mortgage brokers and lenders could consider potential loan payment that you could be liable for as the loan backer. Read More
Yes. Many of our lenders allow tenants and non-homeoweners to be guarantors. Read More.
Typically, lenders will only allow loan backers with a good to marginally imperfect credit score. Read More
With most lenders, once the loan account is up and running, if anything happens... Read More
You do have a right to cancel under some circumstances. Read More
The benefit to you is that you are helping a friend or family member access credit when they otherwise may be unable. Read More
This depends on how well you know the borrower. Read More
When someone asks you to do this, especially if you are close, then there may be pressure to say yes? Read More
Typically, no. As they're required to make the loan repayments if the borrower stopped paying... Read More
No. These loans are unsecured.... Read More