Our Loans About Us Nova Blog Help Existing Customers Apply Login Guarantor loans Help Finding a Guarantor Need help finding a guarantor? You’re in the right place. Finding your guarantor could be easier than you think. We’ve already helped over 375,000 people who’ve successfully found and asked someone to be a guarantor. What is a guarantor? We should probably start by explaining what a guarantor actually is. Well, a guarantor is someone who trusts you. They’re someone who agrees to back up your loan and make any repayments that you miss. Why do I need a guarantor? Can I get a loan without a guarantor? Who can be a guarantor? Almost anyone can be a guarantor, whether that’s friends, family, a work colleague or a stranger in a bar. Okay, maybe not a stranger in a bar. Your guarantor needs to be someone that knows you well, and you need to trust each other. Whoever you’re thinking of, remember that your guarantor needs to meet this criteria: aged 23-75 have a UK address be a homeowner or have a good credit score with a history of paying their bills on time have a minimum income of £800 and are able to afford the monthly repayments if you don't pay. Your guarantor doesn’t need to be a homeowner, but there’s a stronger possibility we’ll be able to accept them if they are. We’d always recommend asking someone you know who owns their own home to be your guarantor first. Here are the answers to some commonly asked questions about who can be a guarantor: Does my guarantor need to be employed? Can a guarantor be retired? Can my family member / partner be my guarantor? Can I live at the same address as my guarantor? My guarantor doesn’t speak English. Can they still be my guarantor? Can I use a guarantor from outside the UK? What will you ask my guarantor? When you’ve completed your five minute application, we’ll need your guarantor to complete their part. They can do this right there with you, or we’ll give you a link to send to them to do in their own time. Your guarantor will then need to tell us a bit about themselves (name, address, date of birth) and once they’re happy with everything, electronically sign their agreement. We’ll then give you both an instant decision whether they’ve passed the initial guarantor criteria. How does my guarantor sign the forms? How do I fill out the guarantor’s part of the application? How do I ask someone to be my guarantor? “Mum, Dad, Sister, Friend . . . I’m hoping to buy a new car but I don’t have the money right now. Amigo could lend it to me, but I need someone who trusts that I’ll make the monthly repayments to be my guarantor. Are you happy to help?” Be honest, let them know why you’re hoping to borrow a loan, and explain they could be the one making everything possible. Knowing they could be helping you out in a potentially life-changing way can be an amazing feeling, and the likelihood is they’ll be honoured you asked. Here’s a couple things that can be good to mention: Make it clear that you’ve thought your application through and have worked out it’s the best option for your circumstances. We’re able to help those who may not be able to borrow from banks or other mainstream lenders, and our APR can be up to 25 times lower than payday lenders. Let them know a guarantor loan with Amigo could improve your credit score, as long as you maintain your payments on time and keep on top of your other bills. Assure them you can comfortably afford the monthly repayments. And when things go wrong, Amigo will always try and come to an arrangement with you first. Just remember, honesty is the key. You’ll likely be asked why you need a guarantor at all, which could lead to an uncomfortable conversation about credit scores. Don’t worry. As long as you’re prepared and willing to speak openly about your finances, then soon you could be wondering why you were so unsure about asking. Here's Natalie and Alex with their top tips: We’ve also written a guide for any guarantors wondering about going ahead. If they have any concerns, chances are we’ve addressed it there. Send the guide their way and when they’re ready, get in touch. Does my guarantor need to complete a budget plan? Before the loan can be paid out, we’ll need to make sure your guarantor can comfortably afford any loan repayments they may need to make on your behalf. To do this, we’ll ask your guarantor to complete a quick budget plan. Lastly, we’ll give your guarantor a call to finalise the application and arrange paying out the loan. Just so you know, the money goes into your guarantor’s bank account for them to transfer on to you. Why is the guarantor contacted directly? Will you send any paperwork to the guarantor? Questions? We've got the answers. Why was my guarantor declined? Can someone be a guarantor for more than one person? Can a guarantor get a loan for themselves? What if my guarantor doesn’t have the internet? Can I change my guarantor? What if my guarantor can’t pay? What is the guarantor’s responsibility? Will this be secured against the guarantor’s home? Why does my guarantor need to have a debit card? Anything we haven't covered? Check out our guides below: Manage my account Payments Our interest Support Hub Have a question? Search FAQs Follow us Navigation Community Legal Opening hours: Monday to Thursday: 9:00 - 18:00 Friday: 9:00 - 17:00 Saturday: 9:00 - 13:00 Representative 49.9% APR (variable) Amigo offers loans from £2,000 - £10,000 over terms between 12 and 60 months, with a maximum APR of 49.9%. Amigo Loans Ltd Authorised and regulated by the Financial Conduct Authority. Registered in the UK, number 4841153. Registered Office: Nova Building, 118-128 Commercial Road, Bournemouth, BH2 5LT. 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