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Guarantor mortgage
pbishop64
Posts: 5 Forumite
Hello
Just wandering if its possible or such thing is available.
My daughter wants a mortgage of her own however her credit rating isn't great to say the least. its on its way up now but very much doubt she'd be accepted for a mortgage as it was in the last 4 years.
I on the other hand have an excellent rating with a fair income so would happily act as a guarantor is this something a mortgage company would consider?
Just wandering if its possible or such thing is available.
My daughter wants a mortgage of her own however her credit rating isn't great to say the least. its on its way up now but very much doubt she'd be accepted for a mortgage as it was in the last 4 years.
I on the other hand have an excellent rating with a fair income so would happily act as a guarantor is this something a mortgage company would consider?
0
Comments
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Hi
Guarantor mortgages are effectively a historic term as the majority of lenders would not just take a guarantee on the mortgage being repaid.
There are different ways about it nowadays, with lenders allowing for 3 way applications etc that provide the same outcome. There are also a couple of lenders that have different products that use 'sponsor' income to support an application.
You need to speak to a good broker, that can support you with thisI am a Mortgage Broker.
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice0
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