Mortgage vs ISA savings & Guantor Mortgages Questons

Chichaldo

Two questions, firstly, is it better to keep some savings in my ISA account when getting a mortgage (my deposit would then be around £20k so I appreciate that would mean more borrowing, interest, higher monthly rate, etc.) I will keep money aside as personal security in the event interest rises or I am otherwise unable to meet mortgage payment for a period of time to avoid going into arrears, but I just mean whether I should still keep some money in my savings account to diversify and just continue saving in general.

Secondly, what effect would a parent adding their owned home as a guarantor mean for my mortgage? Is there any advantage to that plus my 30k deposit (as opposed to having a guarantor due to not being able to put down a sizeable deposit, which I can for the property prices I am going for). Is a guarantor only for when you cannot give a weighty deposit, just helps you get accepted as a safe investment by lenders or does a guarantor add nothing in terms of lower monthly mortgage payments if you already have the deposit?

Cheers in advance.

Chichaldo

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