Second-hand housing staged guarantee refers to the staged guarantee provided by the guarantor to fulfill the debts of the second buyer, and the guarantor assumes the responsibility that the buyer will not repay during the guarantee period. The contents of a guarantee contract generally include the type and amount of the principal creditor's rights to be guaranteed, the time limit for the debtor to perform the debt, the way, scope and time limit of the guarantee, etc.

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 deposit balance accounts for not less than 30% of the amount needed to purchase 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.

What is the responsibility of the mortgage guarantor?

1. If the borrower fails to repay the loan, the mortgage guarantor shall be liable for repayment. 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, for example, the husband guarantees his wife to apply for a house loan, and eventually they divorce, the guarantee will not be affected by the dissolution of the marriage relationship, and it will still be valid. In other words, once a mortgage guarantor is signed as a guarantee, he will always be a guarantor, unless the borrower is approved by the lending institution to cancel the guarantor qualification.

2. The mortgage guarantor shall bear all responsibilities. Under normal circumstances, the borrower repays the loan by himself, and the guarantor does not have to worry about it. However, the loan amount and monthly payment borrowed by the borrower will generally be displayed in the credit record of the guarantor.

3. When the mortgage guarantor needs to apply for any loan, 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.