What is the process?

Once you’ve agreed to act as a Guarantor the Borrower will complete their part of an online application and we’ll send you a link to login to your part. You’ll need to confirm and complete some details online, which will allow us to run some preliminary checks. If we need any additional information from you such as proof of income or address, we’ll email you details of what we need and how you can send it to us.

Following this, we’ll need to use Open Banking to gain an understanding of your finances. Keep an eye out for an email which explains how it works and how to do it.

To assess the affordability of the loan, one of our underwriters will complete and income and expenditure assessment with you. During this, we may discuss details of the Borrower’s financial situation with you, such as their payment history, existing credit commitments, disposable income and the purpose of their loan. This helps us to ensure you understand your commitment as Guarantor for the loan.

Once the application has passed all of our checks, we’ll send you copies of the loan documents for you to read and sign electronically.

Finally, once the loan has been approved, we’ll pay out the funds into your bank account – which is done for security purposes. You should then transfer the money over to the Borrower.

Online application

The Borrower fills in some details on our online application form. We’ll then send a link for you to log in and fill in your details.

Initial assessment

We’ll run some initial checks on the details you’ve provided. If we need any additional information from you, we’ll request this now.

Open Banking

You’ll receive an email to link you to our Open Banking platform – this is how we assess your financial situation.

Call with UK Credit

Both you and the Borrower will each have a call with a member of our team. We’ll ask some questions about your income and expenses to assess the affordability of the loan.

Sign your agreement

Once we’re satisfied with the affordability of the loan, we’ll ask you and the Borrower to read and sign each side of the agreement electronically.

Money is transferred

The funds are paid out into your bank account, which you should then pass onto the Borrower.