Being a witness(?) to a friend signing a loan application.

ElasticKorma

A friend/neighbour of mine applied for a loan, she has been accepted and has received the declaration to sign and return in order to receive the payment. However she has asked myself and another neighbour to sign the declaration too as witnesses. Apparently they require this to ensure she is who she says. She has assured us that we are not responsible for any repayments and we would never be contacted by the company. Is this correct or is witness just another way of saying guarantor?

CHR15

I had something similar with a friend recently, I was, like you, more than a little cautious. I read it several times but nowhere did it say anything about acting as guarantor (but I remained cautious).

When I signed, I wrote "As Witness Only" in the box above my name.

That was a good 6 months or so ago and nothing has appeared on my credit file.

ReadingTim

No, a witness is just that - you are witnessing her signing the document, and that she is who she says she is.

As long as it says alongside where you sign something like "signed in the presence of" or "witnessed by" you're fine, although it's worth reading over the whole document, just in case...

fracturedsun

A witness is a standard requirement for legal documents sent via post, it does not in anyway link you to the loan. It should state clearly that you are a witness.

27col

You don't even have to know what you are witnessing. Just the fact that you witnessed the other person signing the document. I have witnessed several documents for my neighbour and have no idea what was in them.

chanz4

is this a bright house agreement? as they do that type of trick.

KingElvis

May be ok but I don't know what kind of company would make you do this?

housebuyer_abc

KingElvis wrote: »

May be ok but I don't know what kind of company would make you do this?

Almost all - every mortgage company that lets you sign at home require a witness - so that you can't say you didn't sign it the bank must have without your knowledge.

Instead of witnessing being seen as a dodgy practice (as your post seems to suggest) it is actually seen as responsible lending

KingElvis

housebuyer_abc wrote: »

Almost all - every mortgage company that lets you sign at home require a witness - so that you can't say you didn't sign it the bank must have without your knowledge.

Instead of witnessing being seen as a dodgy practice (as your post seems to suggest) it is actually seen as responsible lending

Yes, all very well, I know mortgages require this but I do doubt what companies would make you have a witness for a loan....I've had many in my life but I've never had them witnessed.

If it's a mortgage I would say it's usual, if it's a loan, then I would still say either subprime, dodgy, secured or something along those lines.

adouglasmhor

The Credit union made us do it for a loan, it was as a witness not guarantor. You can't get more fair to the customer than Scotwest Credit Union - IMO, but still needed the paperwork witnessed.

paddyrg

You could cross your signature with 'witness only' so no cunning copy/paste at a later date can make it anything more.