We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
mortgage guarantor- advice on remortgage needed

snotflicker_2
Posts: 1 Newbie
if a guarantor mortgage is in place from the begining of the sale, then if the homeowner remortgages, is the original mortgage agreement void for the guarantor? Or still valid for the original amount, or the new amount?
(I'm asking this as my father got a mortgage for an unnamed subject and acted as a guarantor so they were able to buy there council house, since then the home has been foolishly remortgaged several times to pay for his life style, now both party's whö live a the property are terminally ill, does this mean my father is still obligated to pay the debt off?? Or just the beginning amount?
Thanks in advance
(I'm asking this as my father got a mortgage for an unnamed subject and acted as a guarantor so they were able to buy there council house, since then the home has been foolishly remortgaged several times to pay for his life style, now both party's whö live a the property are terminally ill, does this mean my father is still obligated to pay the debt off?? Or just the beginning amount?
Thanks in advance
0
Comments
-
Remortgaged suggests that they've switched lender. Does make a difference if they have or not. You'd need to read the terms of the legal agreement as to what has been underwritten.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards