Financial Express-How being a loan guarantor can affect your finances and credit
Lenders frequently require certain loan applicants to provide loan guarantors. This condition is typically imposed when there are uncertainties regarding the repayment ability of the primary borrowers and co-borrowers. Additional circumstances that may prompt lenders to request loan guarantors include insufficient credit scores of the primary applicants, a precarious employment situation, loan amounts that surpass the borrowers’ eligibility, or when the primary borrower is approaching or has exceeded the age limit for loan applications.
