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Guarantor Mortgage?
jsr22788
Posts: 4 Newbie
Hi all,
I'm looking to be added to my girlfriends mortgage next year. Due to Covid she is currently out of work, and my salary (at 4.5x) won't cover the entirely. When she finds a job I'm hoping this is a moot point but I need to plan regardless.
I have a property that I currently rent out. Does anyone know any lenders that would take the value of this into consideration (I've already included the income from this above). I've tried to look at guarantor mortgages, but can't find anything about guaranteeing your own mortgage.
Thanks in advance for any guidance
I'm looking to be added to my girlfriends mortgage next year. Due to Covid she is currently out of work, and my salary (at 4.5x) won't cover the entirely. When she finds a job I'm hoping this is a moot point but I need to plan regardless.
I have a property that I currently rent out. Does anyone know any lenders that would take the value of this into consideration (I've already included the income from this above). I've tried to look at guarantor mortgages, but can't find anything about guaranteeing your own mortgage.
Thanks in advance for any guidance
0
Comments
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You can't guarantee your own mortgage.
1 -
Honest advice would be to wait until GF has a new job.....if you are planning on being together for the 25y term of a joint mortgage, 6 months wait will be immaterial.1
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If you want to use the capital as security on your Girlfriends mortgage then you need to sell it and use the cash for the new mortgage.0
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