S
sl2006
Guest
Hi,
I have a few questions about being a [SIZE=-1]garantor [/SIZE] on a house.
My brother is buying a house and my farther is going [SIZE=-1]garantor [/SIZE] on it.
1) Can my father "stop" being a [SIZE=-1]garantor [/SIZE] after a few years. For example, if my brother gets married and the house goes into his and his wifes name, can my father take his name off the [SIZE=-1]garantor [/SIZE] list. How would he do this?
2) My father is being asked to get life assurance for about 40% of the property purchase. He's been told that he can discontinue this after a few years. Is this so? After how long? Why cant my brother get life assurance for 100% of the property price? Ive not heard of this before. Also, does he have to get it from the lending bank?
Thanks
I have a few questions about being a [SIZE=-1]garantor [/SIZE] on a house.
My brother is buying a house and my farther is going [SIZE=-1]garantor [/SIZE] on it.
1) Can my father "stop" being a [SIZE=-1]garantor [/SIZE] after a few years. For example, if my brother gets married and the house goes into his and his wifes name, can my father take his name off the [SIZE=-1]garantor [/SIZE] list. How would he do this?
2) My father is being asked to get life assurance for about 40% of the property purchase. He's been told that he can discontinue this after a few years. Is this so? After how long? Why cant my brother get life assurance for 100% of the property price? Ive not heard of this before. Also, does he have to get it from the lending bank?
Thanks