A Guarantor Mortgage
If you feel confident you can afford the repayments on a loan but mortgage companies still won't lend you that amount of money, there is another way. If you can get a third party to guarantee that you can pay the monthly amounts, they can become a guarantor for you.
A guarantor is someone who guarantees that the payments will be made on someone else's mortgage. Usually a guarantor is the parent or guardian of the mortgage holder. If the mortgage holder can't repay, the guarantor is then responsible for making the payments.
Getting this type of mortgage can help younger buyers get on the property ladder. So, if you have a parent, guardian or even a relative that is willing to become your guarantor, get in touch with us and we can start the process. Call us now, 01392 678 678.