Mortgage has been approved but just filled in an application to become a guarantor

Sareteegee

Hello,

I applied for a nationwide mortgage and it has been approved and we are awaiting completion. My mum asked me to be a guarantor so today I’ve filled in an application form for that.

I know lenders do a second check before completion so my question is, will I fail the second check because I’m now a guarantor?

Thanks in advance.

maisie_cat

I'm not sure the check will be the problem, you now have a potential liability that you really should disclose. If it's a rent guarantee the agency might do a check to ensure that you can afford the rent should your mother default.

Thrugelmir

The alternative question is will you fail the credit check to become a guarantor? Given that you'll shortly have a sizable mortgage commitment. Signing pieces of paper has to have a value otherwise their worthless.