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Who can be a guarantor uk





Why would someone need me to be a guarantor?

It’s most likely one of the reasons below:They’re a borrower with no credit history (e.g. a young person, or someone new to the country) They’ve ju...

Will being a guarantor cost me money? If so, what else could I lose?

Being a guarantor can cost you money if the borrower can’t keep up their repayments, as you will have to make them instead. If you’re unable to mee...

Will I have to be a guarantor for the duration of their whole mortgage?

You don’t necessarily have to remain a guarantor for the whole mortgage term (e.g. 30 years). Once the borrower has built up enough equity, most ag...

Can I be a guarantor with bad credit?

Guarantors with a bad credit history are not likely to be accepted by lenders so it’s unlikely you’ll be able to act as a guarantor if you have a l...

Will being a guarantor affect me getting a mortgage?

Helping a family member or close friend to secure their credit can affect your future mortgage applications. Mortgage lenders look at every aspect...