Who can be a guarantor?


A guarantor will usually be a friend or family member, as they’re the people who will know the borrower best. Providing our simple criteria are met, a guarantor can be anyone who’s happy to make the payments if the borrower can’t. See it as a way of financially helping someone close to you without lending them the money directly.

We understand that some people haven’t had the chance to build up their credit history or have run into a little financial difficulty in the past. When acting as a guarantor, you’re helping someone who is likely to have faced difficulties securing a loan on their own.

Guarantors are needed for two main reasons:

  1. To provide security for the applicant in order to secure the loan
  2. In the scenario that loan repayments are missed, agreeing to step in and make the payments on the borrower’s behalf

Our loan guarantors need to:

  • be 21 to 70 years old at the time of loan pay out
  • have not been bankrupt in the past 3 years
  • have no Debt Management Plan or Individual Voluntary Arrangement over the past 3 years
  • be a homeowner, or
  • an employed non-homeowner

Who can be a guarantor?

  • Mums and Dads
  • Friends
  • Brothers and Sisters
  • Your Partner or Spouse
  • Son and Daughter
  • Colleagues