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Responsibilities & Essential Information

Everybody wants to be in a position to help someone they trust. Being a Guarantor speaks volumes about how much you care, and may be an option if you aren't able, or don't wish, to lend your own money directly.

If you are happy to become a Guarantor it does carry certain responsibilities.

These are:

  • In the unlikely event that a borrower can't make a loan repayment, you may be required to pay on their behalf.
  • If a borrower ever enters a debt management plan (e.g. Individual Voluntary Arrangement - IVA) or refuses to pay, you may be required to make any further payments until the loan is fully repaid.
  • Before we agree to let you be a Guarantor, we will run through an affordability check with you to ensure you can afford to make the repayments in the unlikely event that the borrower misses an instalment.