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Guarentor mortgage using friend not parent?
Oakhill
Posts: 1 Newbie
I have a friend who has offered to guarantee a mortgage for me. Having looked at the market it seems guarantor mortgages are only offered where the guarantor is a family member... Does anyone know of a product that would accept a friend as guarantor?
0
Comments
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I wouldn't do it if you were my best friend, not a chance. If you became unemployed I certainly wouldn't want 2 mortgages to deal with"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
I'd suggest that your friend possibly doesn't understand the implications of guaranteeing a mortgage. Can he/she afford to pay off your mortgage if you default, because that's what it means?
You only have to lose your job or run into financial difficulties and your friend will be liable for your mortgage.
Don't do it, either of you.0
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