How will the guarantor loan funds be deposited to me?

Typically, a guarantor loan will be deposited into a UK debit account. Lenders will almost always send the funds to the guarantor first – this is a security measure so that they know the monies are going to someone with a good credit score and homeowner status and therefore they are considered lower risk.

The guarantor is given a ‘two week cooling period’ where they can decide to pass on the funds to the borrower or send the money back to the lender with no extra charges.