Does being a guarantor affect a mortgage application?
Posted on 29 December 2012 by Russell Davidson
Hi there, I was just wondering, if I'm guarantor on my sisters mortgage does it affect my own mortgage application?
Borrowing for a mortgage as a guarantor
There's nothing that will prevent you from obtaining your own mortgage by acting as a guarantor for your sister. However the actual amount you may be able to borrow will be influenced by your guarantor status.
Lenders all have slightly different ways that they now assess affordability, and the way in which they would assess how much you being your sisters guarantor would affect the maximum they would be prepared to lend you.
If you have the rough details of the case, then I would suggest it's worth having an initial discussion with one of our consultants, to explore your options in a bit more detail. Feel free to call 0344 346 3672 and talk this through with one of our advisers today.
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