First Time Buyers Mortgages

Guarantor mortgages

How do Guarantor Mortgages Work?
These days, most lenders have a guarantor facility across their standard mortgage range. This means that if there is any shortfall in income multiples, a family member can act as guarantor for the remainder.
But there are also some specific guarantor mortgages, like that offered by Newcastle Building Society. The deal offers 100% to professional borrowers earning £15,000 or more. A close relative can act as guarantor for any remainder so long as their age and financial status complies.

Advantages of Guarantor Mortgages
The parent does not have to feature on either the mortgage agreement or the property deeds.
Usually no second charge is required over the parent's home.

Disadvantages of Guarantor Mortgages
The parent could be liable for the entire guarantor mortgage, not just the proportion they are guaranteeing.
Circumstances of either party can change.

Lenders specialising in Guarantor Mortgages
Newcastle Building Society.
Many lenders offer a general guarantor facility across their standard mortgage range.

Guarantor Mortgages Mortgage Advice
To find out which first time buyer mortgage, possibly a guarantor mortgage, is right for you, seek no-commitment , specialist, mortgage advice.

Features, advantages and disavantages of specific first time buyer mortgages:

100% Mortgages l Cashback Mortgages l High LTV Mortgages l Graduate Mortgages l Professional Mortgages l Mortgages with Parents l Family Offset Mortgages l Mortgages with Friends or Family l Mortgages at University l Rent a Room Mortgages l Affordable Mortgages l Interest only Mortgages l Part Repayment Part Interest Mortgages l Interest-free Start Mortgages l Shared Ownership Mortgages l Poor, Adverse or Poor Credit Mortgages l Key Worker Mortgages l Shared Equity Mortgages l 30, 35, 40 Year Term Mortgages

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First Time Buyers Mortgages

Guarantor mortgages

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