Need help finding a guarantor?

You’re within the right spot.

Finding your guarantor might be easier than you believe. We’ve already helped over 375,000 individuals who’ve successfully asked and found you to definitely be described as a guarantor.

What exactly is a guarantor?

We ought to probably begin by describing just what a guarantor really is.

Well, a guarantor is an individual who trusts you. They’re an individual who agrees to back your loan while making any repayments which you skip.

Why do a guarantor is needed by me?

If you’re struggling to simply just take down that loan from a bank, a guarantor loan means you could nevertheless have the ability to borrow the funds you’ll need without having to be charged an unreasonable number of interest.

Unlike banking institutions, we base our financing choices on trust and friendship. Therefore also in the event that you don’t get the best credit rating, if someone’s got the back, we could right back you too.

Can a loan is got by me without having a guarantor?

We’re a guarantor loan provider, meaning a guarantor is needed by you for all of us to provide for you. When you have a guarantor, that is a beneficial indication to us that some body trusts you and therefore we must do.

In case the credit rating isn’t considered strong sufficient to get that loan from the bank, the alternatives could often be high interest loans with inflexible payment terms. By asking one to offer a guarantor, you can be provided by us with all the mortgage you’ll need as well as a portion of the expense of other ‚bad credit’ loans available.

Who are able to be described as a guarantor?

Just about anyone could be a guarantor, whether that friends that are’s family members, a work colleague or perhaps a complete complete complete stranger in a club. Okay, perhaps not a complete complete stranger in a club. Your guarantor should be somebody that understands you well, and you also need certainly to trust one another.

Whoever you’re thinking of, keep in mind that your guarantor has to meet this requirements:

  • aged 23-75
  • have UK address
  • be described as a home owner or have good credit history with a brief history of having to pay their bills on time
  • have income that is minimum of
  • and so are Clicking Here in a position to spend the money for repayments that are monthly that you don’t spend.

Your guarantor doesn’t should be a home owner, but there’s a stronger possibility we’ll find a way to simply accept them if they’re. We’d always suggest someone that is asking understand whom has their particular house to be your guarantor first. If you are a existing client searching to borrow more, take a look at our top up guide.

Here you will find the responses for some commonly asked questions regarding who are able to be considered a guarantor:

Does my guarantor should be used?

No, your guarantor doesn’t need to be used, nonetheless they do must be in a position to pay the loan re payments if you don’t cause them to become your self. Which can be from any earnings, supplied it is regular and assured, and this may include retirement benefits.

Can a guarantor be retired?

Yes, we could accept a retired guarantor, though they’ll nevertheless need certainly to fulfill our typical guarantor requirements. That features having the ability to spend the money for loan re re payments together with their normal living costs, so they’ll want to be getting a normal and guaranteed earnings such as for instance a retirement.

Can my family user / partner be my guarantor?

Yes, we could accept a grouped member of the family or partner as the guarantor.

For those who have provided finance then we’ll have to be extra certain that having this loan would not place either of you under any economic stress, and that neither of you’ve got any dilemmas having to pay bills into the past, therefore we could need to finish some additional checks. As they meet our usual guarantor criteria if you don’t have shared finance, the normal rules apply and we can accept them as long.

Am I able to live during the exact same target as my guarantor?

Yes, it is possible to live during the address that is same your guarantor.

Then we’ll need to be extra sure that having this loan wouldn’t put either of you under any financial strain, and that neither of you have any problems paying bills in the past, so we may need to complete some extra checks if you have shared finance. As they meet our usual guarantor criteria if you don’t have shared finance, the normal rules apply and we can accept them as long.

My guarantor does speak English n’t. Can they nevertheless be my guarantor?

It’s important your guarantor knows the regards to the contract they’re entering into, which means that to be able to talk to us over the telephone in English.

When they can’t do that with out a translator, then we can’t be certain your guarantor will entirely realize the obligation of a Amigo loan, or that we’ll find a way to talk about the mortgage using them as soon as it is been settled.

It does not should be their very first language, but we don’t desire to spend away that loan without having to be definitely confident the guarantor knows precisely what’s taking place.