WHAT IS A GUARANTOR LOAN?
HOW DO YOU KNOW IF YOU HAVE BEEN MIS-SOLD A GUARANTOR LOAN?
As a borrower:
- The loan was unaffordable for you but it was still approved without thorough affordability checks.
- A top-up to a previous loan wasn’t properly explained.
As a guarantor:
- You had other financial links with the borrower.
- You were pressured into becoming a guarantor.
- You didn’t properly understand what being a guarantor meant.
If you are a borrower or a guarantor, you may be entitled to compensation from a mis-sold guarantor loan.