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Guarantor Loans
To apply for a loan as a tenant you will need a personal guarantor.
Our Peer to Peer loans are provided by real people lending you their own money. They are more than happy to do this as long as they know that there is someone close to you who is willing to support you in the application.
Your guarantor should be
- Someone you trust and who also trusts you
- 23-75 years old (at the end of the loan term)
- Own their own home (either outright or with a mortgage)
- Have a minimum income (pension or salary) of £1,000 monthly
- Have a good credit history and not be bankrupt or in an IVA
- Be able to afford the monthly loan payments if for some reason you are unable.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED AGAINST IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU WILL REPAY.