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 an 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.