Guarantor Loans with No Age Limit

Posted on 16 March 2018 by Jo Mobsby

Do you know of any mortgage lenders that don't have an age limit when it comes to a guarantor? I don't 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 on 0344 346 3672.

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.


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