What is the guarantor criteria?
JO3Y90 (1 year ago)
I like the idea of using a guarantor but what does my friend have to be to be a guarantor, who else can I use and what criteria do they have to meet?
FLM Loans (2 mths ago)
Before you choose a guarantor, make sure they meet the following criteria.
IMPORTANT - We cannot be flexible with any of these points. If you send in your application and your guarantor doesn't fit into one of these areas, we wont accept your application and you will have to start all over again.
1. A UK homeowner. This includes people with a mortgage on their property. If their mortgage is paid off, they may need to provide proof of ownership.
2. Aged 23 or over - no older than 70 at the end of the loan term. We will not be able to accept guarantors outside the age bracket, regardless of their income or credit history.
3. A good credit history. Have they missed any payments? Do they have any defaults or CCJ's? If so, we won't accept them as your guarantor.
4. Earn at least £800 per month (from a job, pension or benefits).
5. They are not a guarantor for someone else’s FLM loan. If they are, you can't use them. It's not fair for them to cover two loans at the same time.
We can only tell you if they can be accepted once you have both signed online or returned the signed agreement form, so it's best to check over these points with them before getting them to sign.
Again, we cannot make any exceptions. Please do not waste your time by choosing a guarantor that we won't accept, it will just take longer to get the money you need.
To find out how to find a guarantor Click Here.
Comments (120)
FLM Loans (1 year ago)
Hi, well done for finding someone. I'm afraid the guarantor you choose must be a UK homeowner; we cannot accept tenants, regardless of their income.
kecka86 (1 year ago)
Hi i have found my guarantor now, they are a homeowner but do not live in the home they own. Is this still ok? There family live in the home they own but they recently moved out of it. Does the home owner have to live at the home he owns or will this situation be ok?
Thanks
FLM Loans (1 year ago)
Hi Kecka86, the guarantor does NOT need to live at the property they own. When the caseworker gets in touch you will need to provide them with the address of the property they have the mortgage on.
russel.jones1 (1 year ago)
I can't find a garantour but i have taken out a policy of loan protection that will pay £500 a month if i became uneployed injured or sick does this help
FLM Loans (1 year ago)
Hi Russell, we wouldn't be able to accept this, anyone applying for an FLM loan will have to supply a guarantor that fits the criteria stated above.
stacey leanne (1 year ago)
just yesterday i received a telephone call from one of your people and he said we do not need any bank details from your guarantor! Is this correct as i noticed that it said in my profile that there was no bank details of my guarantor. please do let me know A.S.A.P
THANK YOU VERY MUCH stacey leanne cliffe
FLM Loans (1 year ago)
Hi Stacey, you may have been told that we do not require a bank statement for your guarantor, but we will need their account information because we pay the loan into your guarantors account. If you go back to your profile and update this information, it will save time when we come to pay out your loan.
misty (1 year ago)
Can I have my husband who is a homeowner but has a ccj as a guarantor?
FLM Loans (1 year ago)
Hi Misty, brilliant that you were able to find a guarantor, but your husbands CCJ will mean that he'll fail when we check his credit. We can only accept guarantors who have a good credit history. What you'll have to do is find another guarantor.
My advice to you would be to write down all the homeowners you know then work your way through, checking them against our guarantor criteria.
Here's a reminder of the criteria.
1) They must be a UK homeowner
2) They must be between 23-70 (at the end of the loan) years of age
3) They must have a good credit history
4) They just earn over £800 from any income
5) They CANNOT be a guarantor another FLM customer
Alexina (1 year ago)
hi i applied for a loan but as i do not want my friends to know about my situation i will not be going ahead with the loan which i really could have done with yours sincerely Alexina Findlay
FLM Loans (1 year ago)
Hi Alexina, I can't really advise you on who exactly to ask to be your guarantor, because I don't know your friends. But after working here for 5 years I've learned that the main problem that most people have is being embarrassed to ask for help from someone. The best way to think about it is that you are just looking for someone who trusts you and knows 100% that you are stable enough and reliable enough to pay off the loan. Try looking at it from that viewpoint instead of thinking who you're comfortable asking.
Sit down and make a list of everyone you know and think about how much each of them trusts you.
jfo_makikit9 (1 year ago)
hi i have managed to get a guarantor only problem is they are not a home owner but they are working and are willing to help me
or it possible my Manager to be my Guarantor...?
FLM Loans (1 year ago)
Hi jfo_makikit9, your guarantor does have to be a homeowner, we can't budge on this.
If your manager is a homeowner, they will be perfect. Employers are one of the most popular choices because they know exactly how much you earn and will understand that you can pay it back. Dont forget to check them against the criteria listed at the start of this page.
steveh (1 year ago)
hi my mother is ok with being my guarantor but only receives incapacity benefits, will this be ok?
FLM Loans (1 year ago)
Hi Steveh, yeah your guarantor can be on benefits, as long as they have £800 coming in each month.
chris regis (1 year ago)
hi i have a guarantor who is a company director owns property with credit card but does not have a mortgage will this be acceptable
FLM Loans (1 year ago)
Hi Chris, if your guarantor has paid off their mortgage, that's not a problem. We'll always look at monthly mortgage repayments to prove they own the home, but as long as they're on the land registry, it’ll be fine.
moly786 (1 year ago)
Hi i have found a guarantor however they are aged 68, but im not 2 sure what their income is from benefits but they do have an excellent cedit history would this be adequate?
FLM Loans (1 year ago)
Yeah that's fine. Remember, this is the criteria, anything other than this is a no go and they will be declined.
Good credit history (obviously no missed payments, no defaults, no CCJs)
UK homeowner (there is no way around this)
Aged above 23, but no older than 70 at the end of the loan
Earn £800 (from any source, doesn't matter if it's benefits)
nat100 (1 year ago)
Hi,
Can I use my partner as guarantor? Both of us are homeowners of the same property. He has not missed any payment and he earns approx. £800 from his part time job. What proof do you need for income?
FLM Loans (1 year ago)
Yes you can, that's fine. But if you're co-owners you're going to both have to have a good credit history to be accepted.
suz (1 year ago)
hello i was talkin to one of your people and they said if i apply for a flm quick the guarantor doesnt have to be a home own is this correct??
FLM Loans (1 year ago)
That is correct. Our sister company, FLM Quick require a guarantor but they don't have to be a homeowner. The reason being is that they only lend between £50-£500.
If you're interested in this by can apply by going to www.flmquickloans.co.uk
Clare (1 year ago)
I am trying to find a guarantor, they might be one solution, they are a homeowner, but are retired now, can this be fine.
Thanks
Clare Gibson
FLM Loans (1 year ago)
Yeah, that's fine. As long as they're not over 70 years of age you can use them as your guarantor. It doesn't matter that they're retired.
emz (1 year ago)
My mum is a houseowner and also earns over £800 per month the only problem is her mortage comes out from 1 account and her wages go into another account how would this work? please help me
FLM Loans (1 year ago)
That's ok as long as both accounts are in her name. Your caseworker will need to prove your Mum owns her home. They do this by looking for monthly mortgage repayments from the account. They also need to prove her income. They do this by checking the account her wages get paid in to. Your Mum will have to give the caseworker information for both accounts.
natalie (1 year ago)
i have found a guarantor but the only thing is they use my bank details cn i still use them
FLM Loans (1 year ago)
No, the guarantor you use will have to have their own bank account with a debit or credit card, they can't share yours.
The reason for this is that we need to be able to take the repayment from them should you not be able to make it for whatever reason.
laura 1503 (1 year ago)
My mother has agreed to be a guarantor for me, she is a homeowner in ireland, she has a good credit histroy also would this be acceptable?
FLM Loans (1 year ago)
If the guarantor is a homeowner in Northern Ireland then that is fine. I'm afraid we wouldn't be able to use them if they live in Southern Ireland.
scottie (1 year ago)
My Dad will be guarantor but lives in france,he has had mortages but not sure if he has one still will he be ok.
FLM Loans (1 year ago)
Hi Scott, all of our guarantors need to be UK homeowners and currently residing in the UK. Check out the guarantor criteria question if you need some help.
Dazbo G (1 year ago)
Hi I have found 2 possible guarantors, they are both UK homeowners, 1 is retired and 61 years old and has a good income from their pension over £800.00 a month and owns their home outright, the 2nd is on benefits again income over £800.00 a month but has a mortgage can I use either 1 of them.
FLM Loans (1 year ago)
As long as they meet all of the criteria that we have set down, and pass all of our checks then they could be suitable.
Kobz (1 year ago)
hi i have found a guarantor which is my mom but she has bad credit will that be ok? as i cannot find any other guarantors who are homeowners.
please help
FLM Loans (1 year ago)
One of the main criteria of being a guarantor is that they have to have a good credit history. If your potential guarantor has a bad history, they will not be suitable.
mark23 (1 year ago)
hi, i have a guarantor my girlfriend she lives in council house has good credit and is 40year old is that okay
FLM Loans (1 year ago)
All guarantors have to be UK homeowners. They cannot be renting a property either privately or through the council.
kakarot (11 mths ago)
Hi i have found a guarantor but they are worried if the loan will show up on their credit file which they do not want because it will affect their ability to borrow for themselves.
And why should the loan be deposited in their account, why not mine?
FLM Loans (11 mths ago)
I hope I can put your guarantors mind at rest.
As a lender, FLM do not submit credit data to guarantors credit files. This will not affect them in their future borrowing.
The money will be paid into your guarantors account. We're not a big company we act as a community. By paying the money into your guarantors account, we're checking that they're happy to stand as guarantor for your loan.
jonny85 (10 mths ago)
I've just applied for an FLM loan after finding another guarantor.....my question is that my guarnator was a guarantor for someone else before and that individual left the debt of the loan in the guarantor's hand and the guarantor paid off the debt. Is this indivdual still a good candidate to be my guarantor...i hope he is as I have sent off the application form already..
FLM Loans (10 mths ago)
Hi there,
If that loan is paid off then they a able to stand as your guarantor. Of course we have to check that they meet our criteria and their circumstances are still the same as they were to be accepted the first time they were a guarantor.
Once we have completed all the necessary checks we will get back in contact with you as soon as possible.
Hope this helps
caz (10 mths ago)
I have a garantor but shes 68 and will be 71 when the loan ends she owns her own home is this ok or is she too old
FLM Loans (10 mths ago)
Unfortunately she would be just outside the age criteria. As said above, your guarantor can't be any older than 70 by the time the loan finishes.
jay77 (10 mths ago)
my sis in law will be my quarantor bus she use her sons bank he is 18 is this ok ,,
FLM Loans (10 mths ago)
I would advise against this, as your guarantor's son would need to agree to us collecting any payments that you miss out of his account. Also, your guarantor must be a UK homeowner and good credit history, does she meet this criteria if she doesn't have a bank account of her own?
vasm (10 mths ago)
i really dont understand criteria of guarantor,borrower will repay whole loan amount what a need of guarantor what if we dont find any guarantor,thats mean we wont be able to get any loan,,better option will be borrow from friends rather than from loan lender who has lots of strict criteria to hunt for guarantor,even loan lender charging high rate of APR..
THANKS IN ADVANCE IF I GOT REPLY
FLM Loans (10 mths ago)
If you would be able to borrow £3000 from your friends then of course you wouldn't need to apply to us.
Our customers however, generally arent able to borrow money from anyone, friends family or high street lenders. A lot of people who struggle and who don't have the best credit rating will come to us so they can borrow the money they need, and at the same time build up their credit history so they can easily borrow in the future.
We do require a guarantor, so you would need someone to back up your application in order to apply with us.
SteG (10 mths ago)
Hey.
I am not really that happy about my loan going into my guarantors account? Is there anyway that the loan can be paid into my account? Plus I don't really know that many home owners that I want to tell I am
Getting this loan. For example my dad! Advice would be awesome
Cheers.
FLM Loans (10 mths ago)
The loan has to be paid to your guarantor, this is standard procedure so that we can make sure that your guarantor is completely happy with standing guarantor on your loan.
Your guarantor must be a UK homeowner, this is part of our criteria and if they don't meet any of the criteria we won't be able to process your application
julied (10 mths ago)
my brother has agreed to be my guarantor. He is a homeowner, however, he did consolidate his debt four years ago but has again never missed a payment, would he meet the guarantor criteria?
FLM Loans (10 mths ago)
If your guarantor took out another loan, to consolidate some smaller debts that's fine, as long as his credit is good and his payments have always been made on time. If you send us your application, we'll check over everything and then a caseworker wil call you to confirm everything with you.
KurtisG (10 mths ago)
hi my girlfriend mum said she will be my guarantour, she is a uk home owner with a ok credit history has only missed 1 or 2 payments on her morgage will she be ok?
FLM Loans (10 mths ago)
I wouldn't be able to give you a definite answer without completing a credit check first, but missed payments on a mortgage wouldn't be considered as good credit history.
pb73 (9 mths ago)
My mum has 1 default on her spotless credit history would that affect her as my guarantor?
FLM Loans (9 mths ago)
A default wouldn't be considered as good credit history unfortunately so we may not be able to accept her as a guarantor. Of course I'm not able to tell from just your word alone, we would need your application form so we could complete a credit check to get a definite answer.
sam (9 mths ago)
I have a possible guarantor for my top up loan, however he has his own flm loan with you from last year, is he a suitab;e candiate for guarantor he meets all the criteria.
FLM Loans (9 mths ago)
If your potential guarantor already has a loan with us, we wouldn't be able to let them stand guarantor for you unfortunately as this would be like letting them have two loans at the same time.
jp1964 (9 mths ago)
my sister has agreed but not sure she was once guarantor but was refused as she has spent time in prison but not ne thing to do with money or debts is this ok ?
FLM Loans (9 mths ago)
As long as your guarantor meets our criteria- if she's a homeowner with a good credit history, between 23 and 70 before the loan ends and an income of around £800 then that should be fine.
Mikey (9 mths ago)
I have found a guarantor and she is almost 21 but when the loan ends she will be 23, is this ok?
FLM Loans (9 mths ago)
Your guarantor must be 23 now, this is the minimum age criteria. Of course we look at every application individually, but we set the age at this limit because it's unlikely that someone younger will be a homeowner, with a good enough credit history.
Mikey (9 mths ago)
Just to quote what is said at the begining by Jon,
"Between 23 and no older than 70 by the time the loan ends.",
If thats the case then why does my guarantor have to be 23 to be accepted when it clearly says between 23 and 70 when the loan ends, not when it begins?
FLM Loans (9 mths ago)
The age criteria as it says above is "between 23 and no older than 70 by the time loan ends."
It's not
"between 23 and 70 by the time the loan ends"
The difference in the wording creates a different meaning.
jess1987 (9 mths ago)
i think i been accepted but how do i know and when will the loan money be in my account
FLM Loans (9 mths ago)
To be accepted you must send us your application form signed by yourself and a guarantor that meets our criteria. Once you have sent your forms back to us then we would call you once we have completed all the necessary checks to make sure your guarantor is suitable.
Magan (9 mths ago)
Hello
I Apply £ 10000:00 loan
I do'nt understand any prosses Can you explain me please. what you prossase ? thank you very much Magan
FLM Loans (9 mths ago)
We're unable to lend that amount. When you apply for your loan you will be able to see the maximum we can lend you and over what term. You need to provide a guarantor who meets our criteria for us to accept your application.
Tim1 (9 mths ago)
Hi,
My parents are joint homeowners with no mortgage, and my mother has the income of over £800 per month going into her account, however she will be 71 by the time my potential 3 years loan comes to an end. Can i still use my mother ?
FLM Loans (9 mths ago)
As long as the other criteria is met perfectly we will pass this to a Higher Authority. This is when someone above the underwriters signs off the loan and make the final decision, if the underwriters find that the application falls just outside of the criteria.
shawn n hailey (9 mths ago)
I was talking to one of your staff and she told me that i need a guarantor but if i apply for a £500 loan the guarantor dose not need to own they own home or mortgagey they could be on benefits as long as they earn more than £500 a month is that true ?
FLM Loans (9 mths ago)
This is with our sister company FLM Quick, to apply to them you need to go to www.flmquick.co.uk
adi63 (9 mths ago)
does the money get paid into my account as there was no information asking for my guarantors bank details
FLM Loans (9 mths ago)
The funds are paid into your guarantor's account for security reasons. We don't ask for bank details on the form, we will get them when we complete the verbal contract over the phone.
123lewi (9 mths ago)
My guarantor is home owner but has iva? Can they be guarantor still?
FLM Loans (9 mths ago)
Unfortunately if your guarantor is on an IVA we wouldn't be able to accept them as a guarantor as this means they would have struggled with their current finances and we wouldn't want to add any further pressure to them.
Kryssie (8 mths ago)
Hi, I have found a guarantor i will be using my Dad, he is a UK homeowner but is mortage is not yet paid off. is this ok?
he always pays his bills and direct debits on time and is never late for a payment so i know he has good credit history.
He earns more than £800 per month
And he is aged 47.
please let me know this is ok before i send off the paper work to you.
FLM Loans (8 mths ago)
We would never be able to give you a definite answer until you have sent your forms in. However, it doesn't matter that he hasn't paid off his mortgage, he is still a homeowner. We would have to complete the necessary checks to confirm, but from what you describe he sounds like a good guarantor.
Mark (7 mths ago)
Hi
I'd like to know what happens if a guarantors status changes.
I'm a guarantor for a friend and I lost my job about a year ago and had to sell my house because I couldn't keep up with the mortgage payments, I'm currently unemployed and living in rented accomodation.
FLM Loans (7 mths ago)
Hi Mark,
As per our agreement, you have the responsibility to pay the loan back. I'm sorry that you are finding difficulty in make the repayments. However, all repayments have to be made on time under any circumstances.
if the person you stand as the guarantor for is unable to pay, you will be held responsible as you agreed in our contract that you'd be happy to make any payments that the applicant was unable to. If the payment is not received on time in full, you will be at the risk of late payment charge, which we really do not want to happen.
Therefore please make sure that all payments are made on time to prevent the consequences.
Thanks
Pamela 29 (5 mths ago)
Does your guarantor need to provide details of his income? If so does he have to fill a form in with this information on it? My guarantor is self employed and does earn way other the required amount but how does he prove that to yourselves?
FLM Loans (5 mths ago)
Hi Pamela,
If your Guarantor is accepted we would ask them about their income and expenditure during the verbal contract. We would ask how much they earn (approx) after tax each month.
WA (5 mths ago)
Hi i have found a person to countersign my loan but they dont earn £800 pound a month they only work part time, would you also take in to consideration her husbands wage as they live together and are both on the mortgage.
Thanks
FLM Loans (5 mths ago)
Hi WA,
If your guarantor meets all our criteria, we would ask them during the verbal contract about their income and expenses. If their husband gives them a fixed amount of money each month, then we can include it as their income as well as their wages.
your8 (5 mths ago)
i got a friend that is not a home owner but shes a nurse here and her wages are high is she qualified?
FLM Loans (5 mths ago)
Hi your8, as you can see in the criteria above, all of FLM guarantors have to be UK Homeowners, aged between 23-67 and have a good credit etc. All of the criteria listed above has to be met in order for the guarantor qualify, it cannot be one or the other.
ashley (5 mths ago)
my sister will be my guarantor, she is a home owner and works full time. she has a personal loan herself and a credit card. would she be accepted as my guarantor?
FLM Loans (5 mths ago)
Your sister should be fine to be your guarantor as long as she has a good credit history, which means she hasn't defaulted on any of her own credit repayments, and has enough disposable income left over to cover the repayments if you can't.
tintin (5 mths ago)
Can the company I work for act as a guarantor for a loan of £1500?
FLM Loans (5 mths ago)
Your company cannot be a guarantor. Your guarantor needs to be an individual person who matches the criteria: UK homeowner, aged 23-67 with good a good credit history etc.
Your guarantor can be an person you know, if your employer was happy to have the company guarantee your loan then perhaps your employer would be happy to be your guarantor his/herself?
As I said, your guarantor has to be a person but it can be anyone you know who trusts you and matches the criteria. Hope this helps
SR (5 mths ago)
Hi, can my girlfriend be my guarantor?
She meets all of the above criteria, owns home, excellent credit rating, correct age etc,
We do live together, she doesnt have the money i need to get out of debt so she cant help and i dont know anyone else who owns their own property.
FLM Loans (5 mths ago)
Yes your girlfriend should be fine to be your guarantor as long as she meets all of our criteria and has a seperate bank account to you.
Hope this helps.
m&s busy (5 mths ago)
We are thinking about topping up our loan using our existing guarantor. When you do your checks regarding income and expenditure do you take into consideration that he has a wife that contributes to the household bills or just take it that he pays everything as this would affect his disposable income. Thanks
FLM Loans (5 mths ago)
During the verbal contract we will ask your guarantor about the actual amount of money they put towards the bills per month. If this is spilt with their wife then yes this will be taken into consideration.
Hope this helps!
Lee1979 (5 mths ago)
My mum will be my garuntour. She's never missed a payment on anything so has a clean credit report. She meets all the other criteria, but after outgoings doesnt always have a lot left. Would I be turned down for a loan?
FLM Loans (5 mths ago)
It's great that your mum meets our criteria, but we do need to make sure that your guarantor would be able to make the repayments if you can't. We will check to make sure that they have more than £150 of disposable income available per month (money left over after mortgage and any other bills have been paid).It would be irresponsible of us to payout a loan if it could make you or your guarantors finanical strain.
andy (5 mths ago)
hi i dont no anyone who is a homeowner but i can meet the rest of the criteria can i still get my loan
FLM Loans (5 mths ago)
Hi Andy, I'm afraid we cannot lend money without a guarantor that's a UK Homeowner being supplied. Have a look at "How do I find a guarantor" on the answer centre, there may be someone you can ask to be your guarantor that you haven't thought of yet!
Lisa (5 mths ago)
do i need a guarantor thats a home owner for a £500 loan?
FLM Loans (5 mths ago)
Hi Lisa,
Yes, you need a homeowner guarantor for any loan taken out with FLM Loans.
sonja (4 mths ago)
on the application form i am filling out, it says that the guarantor can be a home owner or mortgage payer. my sister is a mortgage payer, does this mean i could use her as my guarantor?
FLM Loans (4 mths ago)
Hi Sonja,
As long as your sister's name appears on the land registry, and she meets all of our other criteria then she should be fine to stand as your guarantor!
Daisy89 (4 mths ago)
My mum has paid off her mortgage, is 56, retired and owns her own home. She receives a pension of 16,887pa. Would this be ok?
FLM Loans (4 mths ago)
Hi Daisy89, it sounds as thought your mum meets all of our criteria. As long as she has a good credit history she should be perfect to stand as your guarantor :)
jenni87 (4 mths ago)
hi, my mother in law/ father in law are willing to be a guarantor they own there home but i live with them, is this a problem??
FLM Loans (4 mths ago)
That's no problem. As long as your mother-in-law or father-in-law have a good credit history, own the property/have a mortgage, are aged 23-67 then that should be fine.
khan (4 mths ago)
if you expect people to get guarantor with clean credit and home owner its mean he is risking his house for me and your interest is very high too.so why not the guarantor apply from his/her bank with low interest so there is no point to get from flm loans..
FLM Loans (4 mths ago)
We do not secure our loans on assets such as houses. The loan is secured simply by the guarantor agreeing to pay on your behalf IF and only if you fail to make the payment yourself.
This means that your guarantor won't have the hassle of applying for credit themselves and having to collect money off you each month to make the payments on their loan.
Plus FLM loans help you build your credit rating back up so that you can get lower interest loans in the future.
jad002 (4 mths ago)
hi what i need to know is , my mother is a home owner and she is willing to be a guarantor , the problem is she has nt got a 100% credit history does the person have to have been 100% faultless .
FLM Loans (4 mths ago)
We don't ask for a spotless credit history, all we ask is that they have a good credit history e.g. good repayment history on the mortage, loans, finance etc.
We look at cases individually so it's worth sending your signed form back with your mother as guarantor.
Just remember she must not have any missed or late payments on any finance that she's had in the past few years.
Ling 2010 (4 mths ago)
What if my guarantor lives with his parents? Can he still be my guarantor?
FLM Loans (4 mths ago)
If your chosen guarantor owns the property he lives in with his parents then that's fine. Just remember your guarantor must own a UK property or have a mortgage on the property, have good credit and be aged 23-67.
Janine 2011 (4 mths ago)
My dad is going to be my guarantor.. He has paid off his mortgage and meets your criteria... Only thing is, i live with him is this a problem?
FLM Loans (4 mths ago)
That's fine, you can live with your guarantor and that's not a problem. Your dad must also have a good credit history and be aged 23-67.
hubert (4 mths ago)
Hi, i have found a guarantor, that is not homeowner. But it lives at niece and grants the rest criteria. Will this be OK?
FLM Loans (4 mths ago)
Your guarantor must be a UK homeowner, if they are not they will be declined. So please keep looking for a suitable guarantor.
Remember they need to be a homeowner, with good credit and aged 23-67
mike333 (3 mths ago)
Hi I my guarantor is a homeowner with no mortgage, she receives incapacity benefit and a little extra income from other things of about £600 a month. Will I still be expected for a loan? she has a good credit history
FLM Loans (3 mths ago)
If your guarantor owns their property outright that's fine.
We need to make sure your guarantor can afford to make the monthly repayments on your loan IF and only if you fail to make the repayment yourself. So we will go through her income and expenditure with her over the phone before the loan is paid out.
So please do sign the form with your guarantor and send it back. We will be in touch with you both once we receive the form and we'll take it from there
cromby.1 (1 year ago)
I have a friend can they be a guarantor for my loan? they are on a very high wage and live with me.