Quite often, people confuse the concepts of the «coacher» and «guarantor.» Some do not see the difference at all, considering that this is the same person.
In our material we will help you to figure out, in what cases the face acts as a coacher, and in which guarantor!
Most often, the co-engineer is required if the income level of the main borrower is not enough to fulfill the duties on the loan agreement for a certain amount. In this case, the income of the coacher is taken into account when calculating the maximum loan amount, which is an excellent opportunity to get a large amount.
But still there are cases where the relationship has a place to be, and it is worth paying attention to it.
For example, when we are talking about a mortgage loan, the co-serviceer automatically becomes the second spouse, even if it does not work. This is a prerequisite for the mortgage design.
The guarantor is a person who undertakes to pay a loan, in case of its non-payment by the main borrower. If the loan obligations on the loan commitment come into force from the moment of signing the contract to them, the guarantor may not pay the ruble at all, if the main borrower will conscientiously fulfill the requirements for the loan agreement. Just as in the question with the coacher, a guarantor can act any trustee if the bank does not require otherwise. The guarantor has no right to apply for a loan object. It only pays the amount for the balance of the loan in the event of a complete insolvency of the borrower.
Summing up, we also want
So the income of the co-coacher is summed up with the income of the main borrower, which makes it possible to take a large amount of credit. While the incomes of the guarantor do not affect the magnitude of the loan, but are the guarantee of the fulfillment of the loan obligations.