How to get out of being a loan guarantor?

Stopping being a guarantor is not easy!

So think carefully before agreeing to be a guarantor in the first place 🤔

Typically, if you want to stop being a guarantor for a loan

  • You'll have to approach the lender directly
  • Their decision will depend on your personal circumstances
  • Click here for more information on being a loan guarantor

When you may be able to stop being a guarantor for a loan, see below:


During the 14-day cooling-off period

There is a 14-day cooling-off period typically from the signing of the loan agreement, or when you receive a copy of the agreement (check this with your lender).

During this period the borrower has the option of canceling the agreement and has 30 days to repay the finds in full (including interest and charges).

So, during this period, if you are unsure as to whether you will be able to meet your responsibilities as a guarantor, then approach the borrower and discuss this option.

More information


If an additional, or top-up loan is granted without your consent

  • If the borrower has taken another loan with the same lender without your knowledge or consent, you can contact the lender and ask them to consider removing your guarantor responsibilities due to a significant change in circumstances.
  • You are likely to be liable to repay the outstanding on the original amount sanctioned.

If you find a suitable replacement guarantor for the loan

  • If your circumstances change, it could be worth approaching your lender with an application for a release from your obligations if you have found a suitable substitute guarantor for the loan.
  • If the lender is 100% certain that the credentials of the substitute borrower are suitable, they may consider allowing the swap to be made.
  • This decision is solely at the discretion of your individual lender. For example, Amigo Loans will only allow the guarantor to be changed in the period between the loan application being agreed and the money being paid out.

If you get the borrower to repay the loan in full

  • The main way to remove your responsibilities as a guarantor is for the borrower to repay the loan in full.
  • Most lenders allow early repayments in full.

If you repay the loan in full

  • If you repay the debt in full, then you will be released of your guarantor obligations.
  • One option if you have the funds is to do this, and have the borrower repay the debt back to you as a loan.
  • Most lenders allow early repayments in full.

Further Help

This article did not constitute advice; should you require any help, contact