What Is A Guarantor Loan

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Posted on September 24, 2018 at 13:12 PM

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What Is A Guarantor Loan? | TrustTwo
What is a guarantor loan? A Guarantor loan can help you gain access to the money you need even if you can't obtain credit in your name alone. The idea is very simple. A second person - typically a relative or good friend - agrees to be your Guarantor. They promise, should you ever fall behind with loan repayments, to personally cover them for ...
A quick guide to guarantor loans – in association with ...
A guarantor loan is an unsecured loan that requires the borrower to have a second person acting as a guarantor. Loans tend to last between 1 and 7 years and generally you can borrow anywhere between £1,000 to £15,000.
Being a Guarantor
Being a guarantor is risky, so if you’ve been asked to be one make sure you know what the implications are. The most important thing to remember is that if the borrower gets behind in their payments the lender has the right to chase you up for the money rather than the borrower (the person whose loan you guaranteed).

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