Guarantor Mortgage - Parent lives abroad??

laura325630

I just phoned C and G and asked if this causes a problem and they said yes.

My parents are UK citizens, have UK passports etc. Is there any way around it?

Badger_Lady

Do they have UK bank accounts and/or a point of contact address (like another relative's)?

laura325630

Hi, yes. They have UK bank accounts, they still own a property in the UK and their sisters/brothers still live here.

Thrugelmir

The issue is that there are not ordinarily UK resident. So trying to enforce any debt recovery, in the eventuality you default, is a costly exercise for the bank.

Are your parents retired?

laura325630

No their aren't retired and have great jobs in the States.

laura325630

The other option is to use my partners parents. His Dad is now retired through voluntary redundancy. He is 68 years old and will have a healthy pension plan. I dismissed using him because of his age.

Thrugelmir

laura325630 wrote: »

No their aren't retired and have great jobs in the States.

Their current jobs aren't of great interest to an underwriter. Being in the USA is.

Thrugelmir

laura325630 wrote: »

The other option is to use my partners parents. His Dad is now retired through voluntary redundancy. He is 68 years old and will have a healthy pension plan. I dismissed using him because of his age.

Have you asked him if he'll underwrite your mortgage?