A surety is one of the ways to secure the obligations of the borrower for the loan along with the collateral. The relationship between the bank and the guarantors is fixed in the surety agreement. For its conclusion, it is required to provide an established package of documents.
It is necessary
- - questionnaire for surety;
- - identity documents;
- - documents confirming income and work experience;
- - other documents.
Instructions
Step 1
The guarantor is jointly and severally liable together with the borrower for the conscientious fulfillment of obligations under the loan. This means that if the borrower stops paying off the loan, the entire burden of monthly payments, penalties and interest falls on the guarantor. That is why the guarantor has the same strict documentary requirements as the borrower. He must confirm his financial stability, as well as the purity of his biography. The bank may even refuse to issue a loan or reduce the approved loan amount, provided that the guarantor has not been scored.
Step 2
The ideal guarantor is a citizen aged 25 and over with a stable income and at least six months of work experience in the last job. He must have a good credit history, as well as no outstanding loan obligations to other banks. Family ties between the guarantor and the borrower are not prohibited, but, on the contrary, are encouraged.
Step 3
Regardless of the bank, the guarantor must provide a completed application form. It is filled in for each guarantor, and their number may vary depending on the requested loan amount. The requested package of documents must be attached to the application form, which varies in different banks.
Step 4
At a minimum, the guarantor must present his own passport. He must be a citizen of Russia, as well as registered (or registered) in the region where the loan is received.
Step 5
From the main guarantors of the loan, you will definitely need income certificates in the form of 2-NDFL. At the same time, the amount of the guarantor's income must be sufficient to make monthly payments in case of non-payment or death of the borrower.
Step 6
In some cases, banks additionally require information confirming the length of service of the borrower. Then the list of documents must include a copy of the work book or a certificate from the place of work.
Step 7
Some banks also ask for information on loan and guarantee balances. A military ID may be required for men under the age of 27.
