Refinancing as Guarantor

[benansue]

We have been in the process of refinancing our home loan for the past three very, very long months. The delay has been on the banks requirement of seeking independent legal and financial advice as they have formulated a refinancing package where I am a gurantor to my wife's application. I do not undertsand why this route has been taken, however, I was wondering if firstly, I could get advice regarding the implications of being guarantor and secondly, if I had provided a letter stating that I was aware of all implications to being a gaurantor (in fact using sentences and paragraphs from the banks own information booklet), why this wouldn't have been sufficient for the bank's requirements.

Again, this is an application in my wife's name. I do get in strife occasionally, but surely the written, signed word of a husband should be sufficient. Is there any legal argument against or for this?

I never thought that home administrative matters would cause me anguish, but this most certainly has.

Thanks very much.

Ben Schubert.

Basically it is the same as if you sign; but for some reason they seem to not want you on the application--do you perhaps have credit problems that your wife does not have?

Normally you would both just sign. You may want to make sure you indeed do know the reasons they are structuring it as they are.