What does it mean to have a guarantor for your loan? Here are some questions we've been asked frequently which may help you:
Who can be my guarantor?
A guarantor is someone who trusts you to make your loan payments, and is also happy to make any you do not.
Many customers use a friend or family member, as they tend to know you best, but a guarantor could be anyone such as a work colleague, neighbour or employer.
What will my guarantor be asked?
Your guarantor will be asked questions to make sure they fully understand how the loan works and can afford the payments.
How will being a guarantor impact my guarantors credit file?
Your guarantor's credit file will be checked to make sure they are financially stable and haven't had trouble paying back their bills in the past.