After mortgage offer

Jami74

I have my mortgage offer (HSBC) and am hoping to complete within the next few weeks. I am relocating and a parent is coming with me. They rent. Their income is from pensions (LGPS and state) and they have found a place to rent near my new property. The estate agent has asked them for a guarantor and that would be me.

I know advice is always to avoid being a guarantor and I have read many threads on it going wrong, unfortunately this is my parent. I would certainly not do it for anyone else. They did the same for me many years ago. They never miss payments, don't have debt, can easily afford the rent, have savings and will continue to save. If I say no, then I leave them behind on their own.

My question is, will signing to be their guarantor risk my mortgage in any way? Will HSBC credit check me again before completion? And if they do, will signing a guarantor contract show on my credit reports? It feels really uncomfortable to be doing this so close to buying my first home. I would feel better if I had already completed and the mortgage was in place.

badmemory

I do hope not.  I don't know the answer to your question but I do hope it will not.  I am quite old & female & come from an age when women could not get mortgages on their own.  I am only commenting on here because my father who still had a mortgage not only guaranteed my first one but also my aunts first mortgage to house his mother & then after she died my aunts mortgage for her own home.  I suspect that if this was happening now it would not have been possible but then also would not have been necessary. Really I just wanted to wish you well with this.