Buy-to-Let Guarantor Mortgages
It is still possible to get guarantor mortgages to help family members get a residential mortgage. While possible, it is rare that lenders will consider buy-to-let mortgages with a guarantor.
Depending on your son’s age and income there is potential to obtain a buy-to-let mortgage in his sole name because lenders are looking for the rental income to cover the mortgage payments, usually by a factor of around 125%, rather than for his income to cover the whole mortgage debt. Minimum rental income required can be calculated using our minimum rent calculator.
As guarantor your name would not be on the property title and any future Capital Gains Tax liability on sale would be for your son to consider.
I believe your son would benefit from speaking to one of our independent mortgage advisers on 020 4519 5101.
