You’re seated inside the students lettings enterprise having a bunch of coming housemates, willing to subscribe to a rental property.

In this instance, a beneficial guarantor can be your parents otherwise guardians, whom commit to safety the rent for individuals who miss costs.

What is actually a guarantor mortgage?

An effective guarantor loan is simply a kind of personal bank loan contract where the second individual, normally a family member otherwise close friend, is required to act as your own ‘guarantor’.

That guarantor funds to have?

Guarantor loans become used by people with absolutely nothing borrowing records or a dismal credit score. You can use it if you are looking for a financing otherwise an effective guarantor to own car finance.

Simply because they may struggle to rating approved some other type of funds, as most want an excellent credit history and you will/otherwise a reputation with got borrowing from the bank ahead of. Continue reading →