My guarantor is now on an IVA, can I still use them?
Nicky (1 year ago)
I have been with FLM for a couple of years and use the same guarantor but they have now got an IVA but still own their house Is this ok
FLM Loans (7 mths ago)
If your guarantor is now on an IVA, you wouldn't be able to use them for a top-up. Applying for a top-up is basically a new loan. Before paying out the extra cash we have to credit check your guarantor. They'll fail this check because of the IVA. We want to make sure being responsible to our customers and their family and friends. If your guarantor has gone onto an IVA we wouldn't want to add to their problems by attaching more money to the loan.
Your guarantor being on an IVA won't effect your outstanding loan though, we'll still take the repayments as normal