Guarantee into retirement

Posted on 14 June 2012 by Derek

I am trying to help my son get started on the property ladder. Due to his income I will act as a guarantor. I am approaching 50 and so far the longest term we can opt for is 20 years, are there building societies or banks that will allow us to take out a 25 year mortgage?


There are plenty of lenders who will consider a mortgage that runs up to your 75 birthday including some well known High Street Banks and Building Societies.  Hopefully, before then your son will be earning enough for you to be released from your guarantee, but you will have to satisfy them all you will have the income in retirement to support the mortgage.

Should you continue to have difficulty I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to help you find the right mortgage for your situation.


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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