Parents Help with Mortgage ?

Gushie_2

Last April my G/F and i Split up and she decided to move out of our house. I have been paying the mortgage since last April on my own. She now wants to get a new place of her own and rightly so i need to get her taken off the mortgage before she can get a new mortgage.

However after speaking to the Mortage adviser at the building society he gave the impression they would say no to having the mortgage only in my name. (its a 130k mortgage)

My parents said they would go guarantor but this would make the B/S (Nationwide) consider me high risk. My question is this would one of my parents be able to put there name on the mortgage (in place of my G/F's)

thanks
Graham

Barney088

There are quite a lot of lenders who accept the guarantor scheme and I'd advise that you get a whole of market mortgage adviser to arrange one for you.

The trouble with the bank/building society advisor is that they are limited to their own products under normal circumstances.

Have a look on https://www.fsa.gov.uk/Pages/register/ for brokers in your area and check their fee's and if they are whole of market or not first.

Good luck

Kevin123_2

I know Scottish Widows Bank does a guarantor mortgage. How about a joint mortgage with your parents?

Gushie_2

I found an adviser near my work so i am off to see them today, i'll let you know how it goes.

thanks