www.iva.co.uk

Hi
My wife wants a loan secured on a property she owns with no mortgage and the loan company said that I would have to be her guarantor as her wage is low. The problem is that I'm in my third year of an IVA and am not sure if I can do this. The equity is around 250K and she only wants to borrow 10K.
Does anyone know if I can legally do this for her?
Thanks.

No, I am afraid that you cannot, as you will be taking on a contingent loan as guarantor. In any event, you will fail any credit check and be refused.

She should speak to another lender because there is no need for a guarantor with that level of equity. I know Shaun Vickery at Select has access to secured loans and remortgages so could possibly beat what is on offer. His details are in the ask the experts section.