The concept of a loans sponsor resulted from fallout due to the
credit upheaval of recent years. Something had to change allowing
people with poor credit scores to raise finance. The solution was
the unsecured guarantor loan and it has proved to be very popular.
With a loans sponsor you can be a council or private tenant, or
you can be a homeowner, it doesn't matter. Applying is entirely confidential
and no-one will know anything about it (including any employer). You
can be a state pensioner or in receipt of benefits, etc.
With a loans sponsor you can get credit again even with a poor credit
history featuring things like CCJs, arrears and defaults. It is a
much more flexible approach to credit which will once more allow a
significant section of society access to lines of credit which would
not otherwise have been there.