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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Can I get a mortgage if I'm a rent guarantor?
Amie0511
Posts: 5 Forumite
Will I be able to get a mortgage if I'm a rent guarantor for 2 different properties...neither have defaulted on payments ever...I've already been agreed in principle for the mortgage but I was never asked about this and it's only just occurred to me that this might be a problem 
0
Comments
-
If you are a guarantor then the monthly commitments will usually be taken into account as if you were actually paying them - i.e included in your outgoings, because you could become legally liable for them.
If you still fit affordability for the mortgage you would be looking for, plus your own outgoings, plus the two rents, then no issue. If not then you could have an issue.
Who is the mortgage AIP through and was this done with a broker or the lender direct. I am suprised you were not asked the question of if you act as a guarantor....0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards