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.
This could be your partner, spouse, family member, friend or colleague. Remember, if you don't pay an instalment your guarantor will have to. So it's a serious matter for them.
Aged between 21 & 72 at the start of the loan
Partner / spouse / friend / family member / someone you work with
UK resident (excludes Isle of Man and Channel Islands)
UK bank account
Valid UK debit card (Visa Debit / Visa Electron / Debit MasterCard)
Either a tenant or homeowner
Able to afford the monthly repayments
Not currently a customer or guarantor with Bamboo
Guarantor loans can be ideal if you haven’t yet built up a credit history or you don’t have a great credit score. Perhaps you’ve already applied for a credit card or approached your bank about borrowing money but they weren’t able to help. Bamboo can also offer guarantor loans to people who have had a CCJ in the past. Once you have your guarantor loan and you’re making your repayments, this can help you build up a credit history or start to repair your credit score.
You could borrow from £1,000 to £8,000, and with our guarantor loans the money could be in your bank account today, if we get you approved before 3pm.
You can ask anyone who is 21 or over and has a regular income to guarantee your loan. For example, partner, spouse, family member, friend or colleague. A suitable guarantor is someone who regularly pays their bills on time, has a regular income and can afford to make the loan repayments if the borrower cannot.
Once you have chosen a suitable guarantor you can use our email template or speak to them to ask for their help. We will also be available on 0330 045 0491 if they have any queries. As soon as they have submitted their details we can make progress your application.
The rate you are offered will depend on your personal circumstances. A guarantor may be required.