Keeping disclosed assets and income private from other applicant on a line of credit account

Hello,

Odd situation here.

For a line of credit application where 3 people on title all need to co-sign the application, is it possible to completely bar one of owners that is not a signatory on the account from accessing any personal details through the vendor about the other 2 owners specifically income and asset information?

Cheers

 

Yes I think possible under a guarantee but not.necessarily so under a loan as a borrower. This is for practical reasons as all would be coborrowers.

 

ok thanks guys so just to clarify it may be possible for a guarantor to keep their personal details private from all applicants?

 

yes

 

Ok so I've confirmed with another source that because it's all a joint application all parties have the right to request pretty much any application details and there's really nothing you can do.

I wonder if a more independent smaller lender could put something custom together?

 

Not sure why you'd want to do this.

If I was buying hundreds of thousands of dollars worth of assets with you, I'd assume we'd already trust each other and there'd be very little that the bank would need to ask that we wouldn't be prepared to share between us.

If i had an investment partner hiding details I'm not sure I'd proceed.

 

D.T

Thanks and I understand but this is a special different situation.

 

I think the issue is that it is already owned and one owner doesn't want other owners knowing current details.

 

Gold star and one smiley face for you sir.