Who can be a guarantor? Anyone can be a guarantor as long as the person can meet the legal requirements to be a guarantor. However, since a guarantor would be liable to pay the debts of the borrower in the event the...
What are the rights of a guarantor? There are certain rights accorded to you as a guarantor before and after signing the contract of guarantee. These include: The right to obtain a copy of the letter of guarantee or contract of...
What are the liabilities of a guarantor? More often than not, guarantors willingly sign the contract of guarantee without fully realising the impact it may have in the future. Therefore, it is extremely important for a prospective...
What are the do's and don'ts of being a guarantor? Do's and Don'ts Read and understand the nature of the guarantee. A prospective guarantor must not sign a document that he has not read or sign a document which is in fact a blank form or a...
Do I need a guarantor for my housing loan? This is at the financial institution's discretion and depends on the credit standing of the borrower. Back to Housing Loan's Contents References Guarantor - Person or entity who is legally bound...
