Posted on 29 December 2012 by Russell Davidson
Hi there, I was just wondering, If Im guarantor on my sisters mortgage can I then start my own mortgage?
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. If you like to do so, please let me know and I'll arrange a suitable time for one of them tto contact you.
More than mortgages, talk to me about:
Financial Protection | Investments | Personal and Corporate Pensions | Home Insurance
General Insurance | Valuations | Conveyancing | Wills | Home finders
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.