Family Income / Co-signer

[dtmtz]

Hello. We're planning to sponsor my in-law's in 2019. our family income is well above the requirements. however, my spouses' income is low and I'm the main breadwinner. I know that he will have to be the main sponsor on the application, and I can co-sign. should we worry about his income, or if our combined income meets the LICO we should be ok?
any comment is appreciated!
thanks

 

[zardoz]

Hello. We're planning to sponsor my in-law's in 2019. our family income is well above the requirements. however, my spouses' income is low and I'm the main breadwinner. I know that he will have to be the main sponsor on the application, and I can co-sign. should we worry about his income, or if our combined income meets the LICO we should be ok?
any comment is appreciated!
thanks

Combined income is fine but understand exactly what you are committing to as a co-signer, especially if his income is low. You personally may end up being totally liable, even if you part from your spouse.

 

[dtmtz]

Combined income is fine but understand exactly what you are committing to as a co-signer, especially if his income is low. You personally may end up being totally liable, even if you part from your spouse.

thank you so much for your quick answer. and yes I am well aware of the responsibilities and I like that you provide honest advice. The fact is that I love my in-laws as much as my own parents. but if it were any other way, I would think twice before embarking on such a huge responsibility!