Being a guarantor: what do you need to know?

Being a guarantor is a big and risky responsibility, and you should think carefully before making the decision to become one – if the borrower cannot pay his loan, you become legally bound to make those payments.

In this video, we teach you precautions to take before becoming a guarantor and red flags to look out for, brief you on the different types of guarantor arrangements, and help you understand the risks and liabilities that come with being a guarantor.

Being a guarantor can be a tremendous help to friends and family, but understand the risks before doing so.