First time buyer..

Kirkii27

Hi, my partner sister has asked for us to be a guarntour on a rented property. This is due to her receiving benefits as she is a carer for her son and the landlady has said she will accept dss.
My partner and i are saving for a mortgage for our first home. He gets paid £21000 a year and i get 18,000 but i am on a zero hour contract. If he becomes a guarntour for his sister will we be affected with getting our first mortgage? Even though she will 100% pay for her rented house. Do we need to tell the mortgage advisor or keep it quiet

Thanks for any help.

ACG

It only becomes a problem if you have to pay the rent for her.
What happens if she does not pay the rent and will not move out or causes thousands of pounds worth of damage to the property? How will you afford your costs and hers.

There are not many people I would guarantor for. You should think about it fully before committing to anything.

Kirkii27

She has never missed a payment. This is due to a split with her ex partner and having to receive benefits as she is a full time carer. The landlady has only asked for a guarntour due to it being dss not because she has bad credit

Thrugelmir

Kirkii27 wrote: »

She has never missed a payment.

You are ones exposed if anything were to go wrong. Can be a costly exercise.

ACG

You know her better than I do.

What happens if you fall out?
What happens if her benefits are not paid?
What happens if she does not pay for any reason?
What happens if she leaves the property damaged or dirty or a mess?
What happens if you split up with your partner?
What happens if you change your mind? (you can not just take your name of)

If you are signing as a guarantor, be prepared that you may have to pay. All I am saying is think about it.

millwalls

I was a guarantor for my nephew when he moved here from overseas for university. We got a mortgage during that period, did not mention anything to the mortgage advisor and had not problem getting a mortgage.

Of course if things go wrong and you can't pay up any back rent or damages, that could lead to action that results in damage to your credit.

In your place, I wouldn't mention anything about being a guarantor to a broker.

Kirkii27 wrote: »

Hi, my partner sister has asked for us to be a guarntour on a rented property. This is due to her receiving benefits as she is a carer for her son and the landlady has said she will accept dss.
My partner and i are saving for a mortgage for our first home. He gets paid £21000 a year and i get 18,000 but i am on a zero hour contract. If he becomes a guarntour for his sister will we be affected with getting our first mortgage? Even though she will 100% pay for her rented house. Do we need to tell the mortgage advisor or keep it quiet

Thanks for any help.

ChloePattingale

I can’t help with the guarantor but we are also looking to buy a house with roughly the same salaries and my husband has a zero hour contract. Have you found someone that will lend to you?

We currently own a shared ownership house but really want to sell but not sure if anyone will lend a decent amount of money!

System

To answer your actually question, being a guarantor for someone does not directly appear on a mortgage application, however, it may appear on a credit search. As long as she keeps up with the payments (which you have no doubt over) then there’s no issue at all.

Exodi

Kirkii27 wrote: »

Hi, my partner sister has asked for us to be a guarntour on a rented property.

Kirkii27 wrote: »

This is due to her receiving benefits

I'll be honest, I would have trouble deciding whether to be a guarantor for my own sister (and she's been full time employed with the same company for 8 years with zero credit utilisation).

There's not a chance on Earth, I'd do it for a current partners sibling.