Mortgage with Overseas Guarantor
Posted on 21 November 2017 by oli
My cousin is a British citizen living in Dubai for the last 4 years. he is an employer of a British company (Dubai section). Would he still be able to be the mortgage guarantor as I am going to purchase a property (first time buyer)?
I am only aware of one lender who will, in exceptional circumstances, consider accepting a guarantor who lives abroad.
A guarantor personally covenants to the Lender that they will ensure that mortgage payments are made in full and on time and also, in the event of a loss on repossession, can be pursued for any outstanding money as they had been the borrower themselves. You will appreciate that this can be very difficult for the lenders to enforce if the guarantor lives overseas.
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 they will then be able to advise you on your situation.
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