If you want a debt consolidation loan with the added security of a guarantor, then we’ll work with our trusted partners to help ensure you’re getting the money you need.
What is a guarantor?
A guarantor is a person you trust, such as a close friend or family member. By choosing someone to help with your loan application, they will cover the cost of your monthly repayments should you be unable to meet them.
To be a guarantor, a person needs to be between the ages of 18 and 75 and should be able to comfortably cover the monthly repayments on your loan if needed. Ideally, they should also have a good credit history.
Will my guarantor agree to help me?
Choosing a guarantor is a big decision and both parties will need to agree before the loan is approved. Therefore, before starting your application, you should identify someone willing to support you.
Although a guarantor should be a close friend or family member, they should have a good history of repaying bills on time and be financially secure. It’s for this reason that homeowners generally make the best guarantors as they often have a good history of money management.
Then, you just ask them to help you. By specifying how a debt consolidation loan could help you reclaim control of your finances, they should be willing to help.
How does the application work with a guarantor?
Once your guarantor has agreed to support you in your loan application, then it’s time to get started! You will need to specify the amount you want, your repayment period, and give us some information about you.
If you select the guarantor option, then someone will be in touch to confirm they’re happy to be included.
You’ll also both be contacted to ensure you understand your responsibilities and confirm the repayments are affordable. Once done, you should have the funds you need in between two and 48 hours.
Ready to get started?
If you have someone in mind for a guarantor, then confirm they’re happy to support you. Once that’s
done, complete our application form and we’ll be in touch.