You’re within the place that is right.

Finding your guarantor might be easier than you would imagine. We’ve already helped over 375,000 individuals who’ve successfully asked and found anyone to be a guarantor.

What exactly is a guarantor?

We ought to probably start with describing just what a guarantor really is.

Well, a guarantor is an individual who trusts you. They’re a person who agrees to back your loan and also make any repayments which you skip.

Why do a guarantor is needed by me?

If you’re struggling to take away that loan from a bank, a guarantor loan means you might still manage to borrow the funds you’ll need without having to be charged an unreasonable level of interest.

Unlike banking institutions, we base our financing choices on relationship and trust, maybe not your credit rating. If someone’s got the back, we could right straight back you too.

Can I have that loan without having a guarantor?

We’re a guarantor lender, which means that you may need a guarantor for people to provide for you. We don’t base our financing decisions in your credit rating. Rather, that someone trusts you and that we should do if you have a guarantor, that’s a good sign to us.

The alternatives can often be high interest loans with inflexible repayment terms if your credit score isn’t considered strong enough to get a loan from a bank. By asking one to supply a guarantor, you can be provided by us using the mortgage you will need and also at a small fraction of the price of other ‘bad credit’ loans available.

Who are able to be a guarantor?

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

Whoever thinking that is you’re of understand that your guarantor has to meet this requirements:

Your guarantor doesn’t should be a home owner, but there’s a more powerful 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 very own house to become your guarantor first.

Here you will find the responses with a commonly asked questions regarding who are able to be described as 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 re re payments if you don’t cause them to your self. Which can be from any earnings, provided it is regular and assured, which means this may include wages, advantages and retirement benefits.

Can a guarantor be resigned?

Yes, we are able to accept a retired guarantor, though they’ll nevertheless have to fulfill our typical guarantor requirements. That features to be able to pay the loan re re payments together with their normal living expenses, so they’ll need certainly to be receiving a normal and guaranteed earnings such as for instance a retirement.

Can my family user / partner be my guarantor?

Yes, we are able to accept a grouped member of the family or partner as the guarantor.

When you have provided finance then we’ll have to be additional sure having this loan would not place either of you under any economic stress, and therefore neither of you have got any issues spending bills within the past, therefore we might need to complete 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 address as my guarantor?

Yes, it is possible to live during the exact same target as 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. In the event that you don’t have provided finance, the standard rules use and now we can accept them so long as they meet our typical guarantor criteria fig loans.

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, this means to be able to talk to us over the telephone in English.

Then we can’t be sure your guarantor will completely understand the responsibility of an Amigo loan, or that we’ll be able to discuss the loan with them once it’s been paid out if they can’t do this without a translator.

It does not must be their very very first language, but we don’t wish to spend down that loan without having to be positively confident the guarantor understands precisely what’s taking place.