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Guarantor
mtd-142128
Posts: 105 Forumite
Hi all
What is the criteria to be a guarantor?
Do they need to be employed or can someone who is retired be one
Thanks
What is the criteria to be a guarantor?
Do they need to be employed or can someone who is retired be one
Thanks
0
Comments
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They will need to be able to pay the mortgage if the borrower defaults, so they will be subject to a credit check."You were only supposed to blow the bl**dy doors off!!"0
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Down to LL, main concern is they should be a home ownerANURADHA KOIRALA ??? go on throw it in google.0
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As above, it depends on the individual LL/LA how thoroughly they check a guarantor, but they should do a credit check the same as they would on a tenant. Guarantor would normally need enough assets and income to cover their own living expenses, but also the tenant's if they default on rent or damage the property. Usually they must also own their own home.0
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depends on what their income is or savings are. They would still need to meet the same thresholds as someone recieiving a wage, well in my expereince anyway.Debt free since July 2013! Woo hoo! The bank actually laughed when I said I have come in to cancel my overdraft.0
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