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Loan Garuntor Questions

tootyflutty · 2010-11-28 12:06:17

I have been looking into taking out a student loan, and for the amount I need I would need a garuntor. Unfortunatley the only person I would feel comfotable asking already has a loan, though not a student one. Would this person still be able to be my garuntor?

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28-11-2010 1:06pm

#1

tootyflutty

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I have been looking into taking out a student loan, and for the amount I need I would need a garuntor.
Unfortunatley the only person I would feel comfotable asking already has a loan, though not a student one. Would this person still be able to be my garuntor?

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#2 28-11-2010 5:53pm
Toots

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They would be able to go as a guarantor providing that they meet credit criteria with their existing loan. Basically the bank will assess whether or not they could afford to pay both loans (in the event that you are unable to pay yours). A lot of the students who I encounter having to get guarantors usually have their parents, who usually have a mortgage or loans already.

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