Can helping the family harm my ability to borrow?

I have a feeling I know the answer, but I would really welcome some more expert opinions.

If I was to go guarantor for a loan for a family member; would the bank consider this commitment to be the same as any other loan I have when it comes to working out servicability and equity on any future loan I apply for?

I am wary about going guarantor if it means it will be harder to get loans for future projects.

Anyone been in this situation?

Or heard any info that may assist me?:)
By going guarantor for a loan you are actually saying "well, if the people on the loan can't pay, I will". No ifs, no buts, you are prepared to take over payment of the loan.

This will certainly impact on your future financial options.
Your feeling is right. The bank will treat it as if it's your loan. Of course, legally it is your liability as you are underwriting it. Be very careful. There's enough risk in borrowing for your own purposes let alone if something goes pear-shaped for someone else & you are then left to carry the liability for their asset. :(

Sorry to sound so negative when you are trying to do a nice thing by helping someone.... On a positive note, very cute rott you have. :)
your first eight words summed it, all up! YES!
but probly too late now, try changing the post , and asked somthing like , i tried to help a family member, and i worried they will be the result of me having a bad debt, on my credit records, what can i do?
Bit worse than that actually - as a guarantor future lenders will count all the debt but none of the income from that property if it is an IP. At least as a co-borrower you would get to count half of the income against all the debt.

Good Luck
OOOH Buzz I did not know that at all.

I will not do anything as a guarantor now. Definitely not.:eek::eek::eek:

I will need to find another way to help.