According to the provisions of the Guarantee Law of People's Republic of China (PRC), if the borrower fails to repay the loan, the guarantor shall bear the repayment responsibility. Before committing to be a guarantor, you must think clearly, because if you sign the money and debt guarantee, you will be personally responsible for paying off the debts to the lending institution. Even if the relationship between the guarantor and the debtor changes, such as the husband's guarantee for his wife's house purchase loan, and the two eventually divorce, the guarantee will not be affected by the dissolution of the marriage relationship and will still be valid.

In other words, once the guarantor signs as a guarantor, he will always become a guarantor unless the borrower is approved by the lending institution to cancel the guarantor qualification.

Under normal circumstances, the borrower repays the loan by himself, and the guarantor need not worry, but the loan amount and monthly payment borrowed by the borrower will generally be displayed in the credit record of the guarantor. When the guarantor needs to apply for any loan by himself, the debt he guarantees will be regarded as his own debt, and usually the lending institution will include it in the debt, which may affect the loan amount of the guarantor.

What are the requirements for the guarantor to buy a house with a loan?

1. A loan guarantor refers to a legal person, other organization or citizen who has the ability to pay off debts on behalf of the guarantor and creditors and can act as a guarantor. According to the relevant provisions of the Measures for the Administration of Personal Housing Loans promulgated by the People's Bank of China, the object of personal housing home purchase guarantee loans is a natural person with full capacity for civil conduct, and must meet the following conditions: permanent residence in cities and towns or valid residence status.

2 have a stable occupation and income, good credit, and the ability to repay the principal and interest of the loan; There is a purchase contract or agreement; Open a savings account in a loan bank (or pay the housing provident fund deposit), and the balance of the deposit accounts for not less than 30% of the amount required for buying a house, which will be used as the down payment for buying a house; The guarantee company agrees to use the assets recognized by the guarantee company as collateral, repay the principal and interest of the loan for the borrower and assume joint liability as a guarantor.