Rohit Singh 06 January 2021

how can i remove or withdrawn guarantee in home loan

Around one year ago my wife had applied for home loan which was taken by herself from her own bank in which she is employed, type of loan was staff loan in which i had given guarantee for that loan. She was only the borrower and sole owner that house. Now i want to withdraw as loan guaranter because we have taken divorce and our relationship is now over by the order of court.

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Quick Summary

If you've provided a guarantee for a home loan taken out by your ex-spouse and are now divorced, you may be able to withdraw from this guarantee. The advice suggests formally notifying both the bank and your ex-partner of your intention to withdraw, citing the divorce order as grounds for the guarantee to lapse from the date of the divorce.