Frequently Asked Questions
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General
17 Articles- How much can I borrow?
- For how long can I borrow?
- What is the most I can borrow?
- Do you charge upfront fees?
- Is it possible to get a loan without a guarantor?
- Can I share repayments with my Guarantor?
- What can my loan be used for?
- Can I pay off other debts with this loan?
Borrower Criteria
15 Articles- Is a guarantor required?
- Can I get a loan with bad credit?
- Is home ownership required?
- Do I need an income?
- Do I need a debit card?
- Do I need a mobile number & email address?
- Does the lender check affordability and how is it assessed?
- Are there age restrictions?
Being a Guarantor
24 Articles- I’ve been asked to be a Guarantor – what does this mean?
- Who can be a guarantor for a loan?
- What do you need to be a guarantor?
- Does the loan appear on a guarantors credit file?
- What is a guarantor liable for?
- Does being a guarantor affect your ability to get a mortgage?
- Can you be a guarantor without being a homeowner?
- Can you be a guarantor with bad credit?
Guarantor Criteria
11 Articles- What’s the typical guarantor criteria?
- Can a guarantor live at the same address as the borrower?
- Can a guarantor be retired?
- Are there age restrictions?
- Does a guarantor need to be employed?
- Do guarantors need to have a debit card?
- Do guarantors need to complete a budget?
- Do guarantors need access to the internet?
Application Process
25 Articles- How does the application process work?
- How long does the application process take?
- Will my application definitely be accepted?
- If I’m pre-approved does that mean I will definitely get a loan?
- Do I need a guarantor before I apply?
- How fast can I be approved and when will the money arrive in my account?
- Is there a way to get my loan quicker?
- Will the lender need to speak to me or my guarantor?
Application to Payout
7 Articles- How quickly will I get the loan?
- What happens when I have completed my loan application?
- Is there a cooling off period?
- Can I cancel my application?
- Can I change the loan amount or extend my loan term?
- How will the loan be paid to me?
- Why do lenders pay the loan into the guarantor’s bank account?
Credit File
10 Articles- Are there no credit check guarantor loans?
- Will I be Credit Checked?
- Can I get a loan with bad credit?
- Do guarantors get credit checked?
- Does the loan appear on a guarantors credit file?
- Can you be a guarantor with bad credit?
- Can having a loan affect (even improve) my credit score?
- Can being a guarantor affect your credit rating?
Payments
11 Articles- Who makes the monthly repayments?
- How do I make the loan repayments?
- Can I share repayments with my Guarantor?
- When might you ask my guarantor to pay?
- When do the monthly repayments start?
- Can I change my payment date?
- Will the repayments increase during the term?
- How do I repay my Loan?
Interest and Fees
10 Articles- Do you charge upfront fees?
- Do the lenders charge any up-front fees?
- What are the interest rates on guarantor loans?
- Why is the interest higher than a ‘normal’ bank loan?
- Do the lenders charge fees for late payment?
- How is interest calculated?
- If the loan has ‘daily interest’ how does this work?
- What does interest mean?
Payment Problems
11 Articles- What happens if I have problems making loan repayments?
- What happens if I cannot afford the repayments moving forward?
- Can I take a payment holiday or break?
- How long before the guarantor is contacted about a missed payment?
- Can I make a late payment?
- Can I make a smaller monthly payment or reduce payments?
- Do the lenders charge fees for late payment?
- What will happen if I continue to miss payments?
