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Who makes the monthly payments?

The borrower is expected to make the monthly payments. However, If we don't receive payment from the borrower, we'll try to come to an alternative arrangement. If we're unable to do this, we'll ask the guarantor to pay and attempt payment from them once the account falls behind by 15 days.

We’ll only ever ask your guarantor to pay in line with their agreement and in the best interests of you both. Doing so helps prevent any negative implications of the account remaining behind, such as the arrears increasing and the loan term extending.

Guarantors have the option to make as many payments towards the loan whenever they wish. They also have to option to become the primary payer on the account if they wanted to make the regular monthly payments on behalf of the borrower.