What conditions does a mortgage guarantor need?
1. The mortgage guarantor needs to have permanent residence or long-term residence status.
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.
6. Guarantors who meet the 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.
Does being a guarantor of a house loan have an impact on buying a house in the future?
1. Being a guarantor for others to buy a house may have an impact on future house purchase and personal credit reporting. When the borrower fails to repay the loan, the guarantor shall bear the repayment responsibility. When the guarantor borrows again, the bank will also check the credit record of the guarantor, and the guarantor's serious bad record will be affected.
2. The bank's requirement for the guarantor is generally that it must be a local account, with a good economic foundation and stable income. As a guarantor, the borrower has to bear the repayment responsibility when he does not repay, so once he agrees to guarantee the lender, he agrees to bear the repayment risk for him. Under normal circumstances, if you make a loan as a guarantor, the bank will also check the credit history of the guarantor. The guarantor's serious bad record will affect his credit information.
3. China's relevant laws divide warranties into general warranties and joint liability warranties. Only when the main contract dispute is tried or arbitrated, and the debtor's property is still unable to perform the debt according to law, the guarantor of the former is required to assume the guarantee responsibility. If the guarantor of the latter fails to perform the debt after the expiration of the debt performance period agreed in the main contract, as long as the creditor asks the guarantor to pay the debt, he must bear the guarantee responsibility within the scope of guarantee.
4. At present, most banks will require joint liability guarantee, but they can make relevant agreements on the duration and scope of the guarantee. In order to reduce the guarantee risk, the parties may agree that the guarantee method is general guarantee, and clearly stipulate the guarantee period and scope, so as to reduce the impact on the guarantor's future mortgage or other aspects.
5. The impact is relative. If you are a guarantor, you must have certain assets to be a guarantor. But if you have nothing, the guarantee is not established. It doesn't matter to you that everything is repaid in time after he becomes a guarantor, but you are jointly and severally liable for his overdue repayment.