The Risks of Being a Loan Guarantor and Why You Need a Solicitor’s Certificate

Signing a loan as a guarantor is a significant financial responsibility that carries serious risks. If the borrower defaults, you may be required to step in and cover the debt, potentially affecting your credit rating and putting your assets at risk. It’s crucial to fully understand the loan terms and your obligations before agreeing to sign. A solicitor's certificate ensures you are fully informed of the risks, helping you make a sound decision. Before agreeing to be a guarantor, seek legal advice to protect your financial future.