Personal Guarantee

Mittens369

Hi All, 
I took out a Buy to Let Mortgage 3 years ago with a 5 year fixed term. The solicitors messed up and didn’t get me to sign a personal guarantee at the time I took out the loan, and are now asking me to sign it as the lender has requested a copy. 

I don’t think it is reasonable for this to be requested 3 years later, and surely at this stage it cannot be demanded? 

I’m not clear what my position is, if I refuse to sign, can the lender then withdraw the loan? 

Any advice/input would be appreciated  

Nasqueron

If the loan required the guarantee to qualify then, while a complaint to the solicitor might get you somewhere, you'll still need to sign it or the loan might be demanded in full

DullGreyGuy

Can you afford to repay the mortgage in full? Could you get better rates elsewhere now factoring in any early redemption penalty? 

Either sign it or get ready to repay the mortgage in full. 

MEM62

Mittens369 said:

I took out a Buy to Let Mortgage 3 years ago with a 5 year fixed term. The solicitors messed up and didn’t get me to sign a personal guarantee at the time I took out the loan

A mortgage is secured on property, why would it require a personal guarantee?