Do you have clients that are considering a request to be a co-borrower or guarantee a loan?
Whilst these are not uncommon arrangements, they can be easily misunderstood leaving many people to underestimate the risk that can potentially be attached to being a co-borrower or guaranteeing a loan.
Helpfully, the Australian Securities and Investments Commission (ASIC) has published a guide, which clearly explains what these terms mean while providing some handy Q&As for clients, which you can use to assist your clients.
