No, when you apply for a Bamboo loan neither the applicant nor the guarantor has to be a homeowner. Unlike other lenders in the market, any residential status is allowed.
At Bamboo we aim to deliver affordable loans to our customers to support them in their everyday lives and to be judged by you as fair, transparent and simple.
We work hard to make loans fairer for everyone. With our free loan quote service, you can check how likely you are to be approved for a Bamboo loan with no impact on your credit score.
All our loan applications are individually assessed to ensure they meet our lending criteria and these are some basic things to consider when finding a guarantor for a Bamboo loan:
21+ years of age
UK resident (excludes Isle of Man and Channel Islands)
UK bank account
Valid UK debit card (Visa Debit / Visa Electron / Debit MasterCard)
Any residential status is allowed
Able to afford the monthly repayments
Not currently a customer or guarantor with Bamboo
Remember, a suitable guarantor includes someone who regularly pays their bills on time, has a regular income and can afford to make the loan repayments if the borrower cannot.