Guarantor Mortgages

Call Us Now

0845

25 75 485

Lines open

9am to 5pm

Monday to Friday

Request a Call Back

If you would like to speak to a member of our team, simply enter your name and telephone number in the form opposite and we will get back to you shortly. Alternatively, you can send us an email from the contact page.

Sponsored Links

Guarantor Mortgages

With property prices currently at an all time high first time buyers are struggling to get a foot on the property ladder.

The Council of Mortgage Lenders have currently gone on record as saying that first time buyers historically account for about 45-50% of house transactions, however, in the second quarter of 2005 the figure had reduced to around 30%.

The Halifax estimated there were only 320,000 in 2005 which is the lowest figure since 1980. Furthermore, the average age of a first time buyer has risen to 33 and that it takes, on average, 5 years to save up sufficient deposit.

It is no surprise that young people are struggling to purchase their first home. To be able to get onto the property ladder many young buyers are turning to their parents or family for financial assistance. Most often this takes the form of a cash gift to help raise the necessary deposit, however in some cases the parents stand as guarantor.

Guarantor Mortgages, and how they work.

A guarantor mortgage allows parents or members of family to hold a mortgage in the name of their child. Once the income of the child increases he or she can then take on the full responsibility of the

mortgage.

There are now numerous lenders that offer guarantor mortgages. As with every mortgage it is important to compare rates, introductory offers and any fees that may be associated with the product.

If you would like further advice on Guarantor Mortgages call Lifestyle Solution on

0845 25 75 485

Or complete the call back form and we will call you at a convenient time.

This website is provided as an independent marketing website.

We are neither a mortgage lender nor an independent financial adviser and, as such are unable to offer financial advice

Enquiries generated via this website are passed on to independent financial advisers and mortgage/loan brokers.

Think carefully before securing other debts against your home.

Your home may be repossessed if you do not keep up repayments on your mortgage.