100% Guarantor Mortgage (Family Pledge Loans)

Mumtotherescue

Hiya! My Daughter is 26yrs old, and is a graduate of Edinburgh University. She is now in full time employment (earning 18k at the moment) and at present is in rented accommodation. She feels she would rather be paying a mortgage than spending the same amount on rent every month....sensible girl....only problem is she has no deposit! We (mum and step-dad) don't have any accessible cash, although our house is worth £190k more than our mortgage. Have read about a Guarantor Mortgage, and that these used to be available at 100%......advice desperately needed!!! Thanks!

ACG

There is only one provider on the market im aware of that offers what your after but their criteria make it pretty difficult to get. Its via a company called aldermore - i dont think you can go direct to them, so you might need to speak to a broker but you can atleast have a read up on it to see if you pass the initial criteria.

opinions4u

Raise the deposit against your home.

Gift that to your daughter.

Pack her off to get her own mortgage.

Mumtotherescue

Thanks for that ACG......will go and check it out right now!!

RLO

Mumtotherescue wrote: »

Thanks for that ACG......will go and check it out right now!!

Hi, Mumtotherescue.

I am in the process of doing research on the guarantor mortgages, and have been pointed in the direction of Aldermore, did you contact them? If so, where they helpful for you and your daughter?
I am a 28yr old married mum of 1. And we are struggling to get on the property ladder, but my mum is coming to our rescue and being guarantor for us. Just trying to find the best company. Any advice you could give on Aldermore would be fantastic. Thank you