Why was my cosigner declined?

Don't worry if your cosigner has been declined - the most important thing is we've already accepted your application and want to help you get the money you need.

You just need to find someone else to be your cosigner instead. As soon as you've found someone new, we'll check that the payments are affordable for you both and will then arrange paying out the loan.

There are a few reasons why we're unable to accept someone as a cosigner, but the most common is if they have had negative credit in the past and so don't meet our criteria.

If someone is a cosigner, it will be up to them to make the loan payments if you did not. By looking at their credit history, it allows us to see if they've kept up with their own bills in the past. This helps us to decide if they would be a suitable cosigner. A good cosigner has:

• A credit score of more than 750
• A good history of paying their bills on time
• Homeowners (not tenants) are more likely to be accepted

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