1. The mortgage guarantor must have permanent or long-term residence status and full capacity for civil conduct.
2. The mortgage guarantor should have a stable income and work, a good personal/company credit report and a certain repayment ability.
3. The mortgage guarantor needs a contract or agreement to buy a house.
4. The mortgage guarantor must have a savings account or provident fund account in the loan bank; And the balance of the deposit accounts for not less than 30% of the amount needed to buy a house, which is used as the down payment for buying a house.
5. If the mortgage guarantor is a guarantee company, assets recognized by the creditor are also needed as collateral.
Guarantors with appeal conditions also need to provide their own proof of marital status, personal/family income, company assets and other materials that can prove their repayment ability. In addition, as a loan guarantor, you should also understand that the guarantee risk you need to bear is not low.
Guarantor's guarantee preparation
1, find out the borrower's character and credit. The higher the credibility of the guarantor, the smaller the risk of the guarantor.
2. Understand the purpose of the borrower to borrow money. This is very, very important. If you borrow money for high-risk investment projects, then Ye Luo's Law advises you not to vouch for him. There is a simple reason. Others want to get rich, so you take risks with them. In the end, maybe he lost money and wanted you to pay the bill.
3. Investigate whether the borrower has other debts. Some borrowers have a good reputation, but when the debt crisis breaks out and they are unable to repay, their reputation will not be exchanged for money. Therefore, the laws of Ye Luo do not recommend providing guarantees to responsible borrowers.
4. Understand the borrower's repayment ability. The income level of the borrower is an important factor to determine whether the arrears can be paid off.
5. Know your own economic strength and do what you can.