You need to be between 18 and 75 and a UK resident
- You can be a non-homeowner or tenant (but loans are typically cheaper if the guarantor is a homeowner).
- Your credit file should be clean, or only marginally imperfect (clean credit file loans are typically cheaper).
- You should have a regular income (which could be a pension).
- You need a UK bank account with a debit card.
- The loan will need to be affordable to you.
During the application process, you need to show that you can afford the repayments if the borrower defaults
- A regular income
- Expenses that are less than income
You need to be comfortable that if the borrower defaults you can afford their repayments.
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