How will it affect my guarantor if they wanted to get a loan themself in the future while they are still guarantor for me?
Lisac1909 (1 year ago)
My potential guarantor has asked if they do agree, how will it affect their future borrowing, if they wanted to apply for a loan say in 2 years will the fact they are a guarator for me affect their chances of getting future credit? And who's name will appear on the agreement, will it be the borrower and the guarantor?
FLM Loans (7 mths ago)
As long as you make sure that you keep up with all your loan repayments, your guarantors credit rating will not be affected. When we do credit checks on your guarantor it will show on their credit report but will only show up as a "footprint". This will not affect them from obtaining credit in the future.
Just so you know, whilst you are still paying your loan off with FLM, your guarantor is not able to take out an FLM loan at the same time. We have to be responsible and don't want to put anybody in the position of having to pay for more than one loan if your payment was missed at any point.
If you would like to know a bit more about what credit checks are performed, Click Here