All FAQs > Does the guarantor have to be a homeowner?

Does the guarantor have to be a homeowner?

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:
check Aged between 21 & 72 at the start of the loan
check UK resident (excludes Isle of Man and Channel Islands)
check UK bank account
check Valid UK debit card (Visa Debit / Visa Electron / Debit MasterCard)
check Either a tenant or homeowner
check Able to afford the monthly repayments
check 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.