What is the process for loan guarantors?

what is the process of being a guarantor?

Becoming a guarantor is a simple process.

Once you have agreed to be a guarantor, both you and the applicant will need to fill in a simple online form.

The lender will check the forms and if they need any additional information, they will give you a call. They might need some supporting documents, but they will let you know during the call.

If they are satisfied that both yourself and the applicant will be able to keep up with repayments and the loan is approved, they will phone you one last time to run through some affordability checks.

When everything's in order and the loan is approved, the funds will be transfered to you.

As the guarantor, you are then free to send the money to applicant.

how do you go about being a loan guarantor