do any major banks provide guarantor loans?

missiemog

can the moderators remove this thread now.

it would appear my question is totally ridiculous.

DCFC79

Whats the loan for ?

Do you know whats entailed in being a guarantor ?

missiemog

yes, we both are fully aware of what is involved. i can fully afford the money for repayments, absolutely no problem. it's just that my credit rating is shot from years back. these issues are sorted out now and finished (trust deed), hence inability to obtain a loan for myself (i have tried and failed).

the loan is for a bill that needs paying asap - not consolidation of any debts or anything similar.

poppasmurf_bewdley

I cannot see any major lender offering Guarantor type loans. They can lend as much as they want to perfectly legitimate borrowers without getting entangled in Guarantor loans and all the problems that go with it.

_Andy_

Guarantor loans are offered normally where income is the issue, not your credit history. With your adverse as bad as you imply it is no high street lender is going to touch you I'm afraid.

missiemog

we are both fully aware of what this entails.

again, i can fully afford monthly payments required.

thank you for replies.

missiemog

_Andy_ wrote: »

Guarantor loans are offered normally where income is the issue, not your credit history. With your adverse as bad as you imply it is no high street lender is going to touch you I'm afraid.

really? i'm at a loss as to why i'm being turned down then. i have the funds!

thanks tho.

dealer_wins

My view is that asking a friend to be a guarantor is the same as sleeping with your friends partner really. Not nice and nearly always ends with a broken friendship.

If you cant get a loan yourself, it means that the loan companies believe you cant afford it and wont repay it.

missiemog

dealer_wins wrote: »

My view is that asking a friend to be a guarantor is the same as sleeping with your friends partner really. Not nice and nearly always ends with a broken friendship.

If you cant get a loan yourself, it means that the loan companies believe you cant afford it and wont repay it.

as stated, your view. but thanks for your answer.

ILW

The best option is for your friend to take out the loan and you make the repayments. They will get a better rate and are taking no more risk than being a guarator.

_Andy_

missiemog wrote: »

really? i'm at a loss as to why i'm being turned down then. i have the funds!

thanks tho.

Why are you at a loss? I've already said it's due to the adverse