Posted on 16 March 2011 by Jo Mobsby
Do you know of any mortgage lenders that don't have an age limit when it comes to a guarantor? I dont earn enough and my father is 64?
There is a Lender who will consider your Father as a guarantor, but only if you can afford at least 70% of the mortgage debt on your own and you apply before he reaches the age of 66. He would be required to guarantee up to 30% of the debt plus another 10% should you default on your mortgage payments.
The remaining Lenders all have a maximum age of between 70 and 75 at the end of the mortgage term. This will mean that you will have a very short mortgage term and this could push the repayments above the level of affordability.
I believe you would benefit from speaking to one of our independent mortgage advisers. Please call on 0344 346 3672 and tell the consultant the date and title of your question.
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