What are the rules for becoming a loan guarantor?

To become a loan guarantor, you typically need to have a good credit score, stable income, and be willing to take on the responsibility of repaying the loan if the borrower defaults. Lenders may also require you to provide proof of identity and sign a legal agreement outlining your obligations as a guarantor. It's important to carefully consider the risks before agreeing to become a guarantor for someone else's loan.