How do I withdraw as a loan guarantor? A guarantor may request to be released from the guarantee. However, the decision is up to the financial institution. The financial institution may: Agree without conditions Agree subject to an...
Is there a maximum age to be accepted as a guarantor? Financial institutions have the discretion to accept anyone as a guarantor as long as the legal requirements of a guarantor are met. Back to Guarantors' Contents
What is a guarantee? Why do banks need a guarantee? A guarantee is a legal contract that binds you to pay the debt of the borrower if the borrower fails to do so. The financial institution can sue you when the borrower does not pay back his or her...
