Who can be a guarantor?
Most banks will only allow parental guarantees from the borrower’s parents or immediate family guarantees from siblings, grandparents, spouses, de facto partners or children. This is because banks wonder why anybody else would want to help you with your loan! Some lenders will allow anybody to be a guarantor, as long as you can explain why they are helping you. This allows more extended family members such as cousins or other people such as friends to help you with your loan.
