Increase borrowing - guarantor?

monaymadlol

Hi, I'm maybe looking to move this year.
After fees etc , I'll have around 50-55k of equity towards a new place.
I'm self employed with over 10 years proof of stable earnings.
Doing a quick search on borrowing calculator here, I can borrow around 113k..so that's total of 168k property value.
The properties in areas I like are around slightly higher of 175-200k.

Is there a way to borrow 10-15k more?

I will see if parents can help a little, but if not..any other options?

I'm to transition career wise later this year which will boost things...any chance that can be told to the lender?

Can a broker help with increased borrowing?

Add a parent as guarantor (who's still in work and mortgage free)? How does it work? Can all mortgages be converted into guarantor mortgages? Is there an additional fee? How do I take their name off that later?

Thanks

K_S

@monaymadlol

- a broker can't help you get increased borrowing but can make sure that you are indeed maximising your borrowing.

- to increase borrowing beyond what your earnings will support (as per lender calculations), what you're looking for is called a joint borrower sole proprietor mortgage where your parent will be party to the mortgage but not on the deeds. Depending on how old your parent is, this may limit the term and hence affordability.

monaymadlol

The parent is 61, I'm late 30s, looking for 20yr term max ideally