If you’re buying jewellery for yourself, your partner or someone else and don’t quite have the borrowing profile to back up a personal loan, you can look to a guarantor to help you out. This is someone, typically a parent or grandparent, in a stronger financial position who guarantees the repayment of your loan. Doing so can increase your borrowing power and lower your interest rate, as it serves as further security for your lender. As long as you keep on top of repayments, your guarantor doesn’t need to be involved.