The loan guarantor can make a loan. The guarantor only plays a role of providing guarantee, and only when the lender fails to repay the loan on time will the guarantor assume the repayment responsibility. Therefore, as long as the loan conditions are met and the credit record is good, the guarantor can apply for a personal loan. However, it should be noted that before the loan is paid off, the loan will become the assets and liabilities of the guarantor, which may affect the final loan amount.

How many years does the guarantor bear the responsibility?

The responsibility of the guarantor of buying a house will be invalid for several years and needs to be based on the contract. The creditor and the guarantor may agree on a guarantee period, but if the agreed guarantee period expires before or at the same time as the performance period of the principal debt, it is deemed that there is no agreement. If there is no agreement or the agreement is unclear, the guarantee period shall be six months from the date of expiration of the main debt performance period. If the time limit for performance of the principal debt is not agreed or clearly agreed between the creditor and the debtor, the guarantee period shall be counted from the date when the creditor requires the debtor to perform the debt.

What are the requirements of the mortgage guarantor?

According to the requirements of banks, the requirements of different banks are different, but the basic condition for being a mortgage guarantor is that the guarantor needs to have the ability to provide guarantee (property, credit).

1. The loan object is a natural person with full civil capacity.

2. Having urban permanent residence or valid residence status requires the borrower to have legal status.

3 have a stable occupation and income, good credit, and the ability to repay the principal and interest of the loan.

4. There are assets recognized by the lender as collateral or pledge, or units or individuals that meet the prescribed conditions and have compensatory ability as guarantors to repay the principal and interest of the loan and bear joint and several liabilities.

What are the risks of being a loan guarantor?

1, assume the debt of the guarantor.

The guarantor provides collateral as a guarantee. When the lender fails to repay the loan on time, the lending institution may apply to the court to auction the collateral to obtain the realized value to pay off the loan.

2. Personal credit is damaged

If the lender fails to repay the loan on time, the lender's loan record will appear in the guarantor's personal credit report. If the lender fails to repay the loan on time, the guarantor's credit report will also be implicated.

3. The loan amount is affected.

When the lender fails to repay the loan, the loan amount and interest rate will be affected when the guarantor handles personal loan business in the bank. Once the bank determines that it has loan liabilities, the guarantor will lose the personal loan interest rate concession.