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Order Your Lenders By
Representative APR
Maximum Loan Amount
Maximum Loan Term
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Who Can Be Your Guarantor?

Each guarantor loan lender is different, but usually your guarantor needs to be between 18 and 75 years old with a good job and a sound financial past.

They can be a friend, a work colleague or a family member – Most lenders require their monthly earnings to be high enough to comfortably meet any potential repayment shortfall.

Be aged between
18 and 75
Be a UK homeowner**
Have a good credit score
Not financially linked to the borrower
Have a minimum monthly income of £600
Have a UK bank account

How Soon Can I Receive Funds?

Successful applicants will typically receive their funds within 24 to 48 hours of approval, or sometimes on the same day.

When your monies are successfully transferred, most lenders will send the full amount to the guarantor’s debit account first. This is a standard security measure carried out by lenders to ensure that the funds are going to the right person and confirms the involvement of the guarantor. The guarantor usually has a ‘two week cooling off period’ where they can decide to pass on the money to the main borrower or they can change their mind and return the funds with no extra charges.

guarantor-loans

In the case of some parents or guardians, they may decide to distribute the funds to the borrower in instalments or smaller amounts to help them manage it better – you have flexible options. But for the lender that is transferring £5,000 or £10,000, they know that it is definitely being sent to a person with good credit so they should get it back. Then, every month, repayments will be collected from the main beneficiary’s debit account, as agreed.

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