Can I be a guarantor for my son?

Posted on 8 November 2012 by jonathan owen

Hi there...

My son is buying a house for £200,000 but has little in the way of income proof...though he can easily afford this.

I have in excess of this as 'spare' money sitting in the bank and wish to become guarantor for the mortgage which will be £150,000 as I am donating £50,000 as the deposit.

Is this acceptable to a lender?


Jon Owen


There are a number of ways to look at doing this, including you acting as a guarantor, though most lenders would need you to have an earned income, rather than using a lump sum to cover the new loan.

As John Charcol is an Independent, Whole of Market broker, we regularly deal with those lenders who still make manually underwritten decisions, looking at each case on its merits.

Before going any further we would need to get more information around the personal situations for both you and your son. If you would like to discuss your enquiry in more details, then please let me know and I'll for you to speak to one of our consultants.



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