Guarantor Loan Advice
Does Being A Guarantor Affect My Credit Rating?
No, your credit rating is not impacted when you become a guarantor for someone’s loan. A soft search is carried out (ie. a search that
Help for guarantors to understand your rights and obligations.
No, your credit rating is not impacted when you become a guarantor for someone’s loan. A soft search is carried out (ie. a search that
Do Guarantors Get Charged Automatically? The nominated guarantor will not be automatically charged for the guarantor loan when an agreement is made. The only scenario
So, Can I Change My Guarantor on a Loan? No, it is not possible to change guarantors after the initial two week cooling off period
If a guarantor refuses to repay the loan, the debt will still be outstanding and it could lead to added fees and impact to the
Yes, it is definitely possible to improve your credit score through a guarantor loan, provided you pay it back on time and do not miss
Do Guarantors Have Any Rights? Yes, a guarantor has a lot of rights. One reason is because the loan is funded into their bank account
No, if you have agreed to become a person’s guarantor for a loan , when you cannot suddenly stop being a guarantor once the full
Having a good person to be the guarantor of your loan is essential to maximise your chances of approval. A strong guarantor is important to
What are the Responsibilities of a Guarantor? The main responsibility of the guarantor is this. If the main borrower defaults on their loan the guarantor