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Guarantor Mortgages

A guarantor mortgage is typically arranged where a relative (sometimes a friend) wishes to help guarantee the affordability of a mortgage.

This is often where the amount of mortgage required would not necessarily have been achievable in the name of the mortgage applicants alone without the guarantor. Guarantor mortgages are sometimes called “Joint Applicant Sole Proprietor” where one or more persons go onto the mortgage application but fewer go onto the ownership of the property as registed on the Title Deeds. A typical example is parents buying with son/daughter where parents and son/daughter go onto the mortgage application but only son/daughter onto the Title Deeds.

The usual scenarios where guarantors are typically used are in the case of parents acting as guarantor for children who may be studying or who have just started their career where their income is expected to grow, but they can’t yet afford the mortgage amount they require on their own. Alternatively, it could be children acting as guarantor for their parent’s mortgage.

Unfortunately, guarantors cannot be used to make up for the fact that one or more of the mortgage applicants have an adverse or an impaired credit history. In these scenarios, Guarantors can still be used to assist with the affordability of the mortgage, however the lender would also need to be comfortable with the credit history of all applicants before deciding whether to proceed.

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In most situations a Guarantor will not be required to go onto the Title Deeds of a property they are guaranteeing the mortgage for. This has the benefit that the guarantor will not usually be subject to Stamp Duty on the purchase of the property or Capital Gains Tax on its disposal.

The mortgage guarantor or guarantors will, however, be jointly and severally liable for the whole mortgage debt with the applicants. This means that if the applicants fail to meet the mortgage payments then the guarantor(s) credit file will be affected in the same way as the applicants.

Additionally, any guarantor will usually have the monthly mortgage payments they are guaranteeing treated as a commitment. The impact here is that should the guarantors wish to take out a mortgage or other credit in their name, the mortgage they are guaranteeing could affect the amount the wish to borrow in the future.

At RockHopper we can look to assist clients looking to act as a mortgage guarantor.

We appreciate everyone’s particular situation is unique, which is why we look at every enquiry on a case by case basis.

If you would like to see whether we can help, do get in touch for a free no obligation quotation.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Rates are updated daily and can be withdrawn at anytime without notice by lenders.”

Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

Commercial Mortgages and some forms Buy to Let mortgages are not regulated by the Financial Conduct Authority.
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Excellent Service

Outstanding from start to finish. Great communication throughout. They fully explained everything an....
For service -  Resi/Remo/8 Main Drive
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Really happy with the service given much appreciated thank you

By: Steven Brown
Friendly and polite service kept me informed on what was going on Really happy with service given th....
For service -  Resi/Remo/ Keep Hill Close
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Amazing

Very helpful, and took the stress out of finding a mortgage that suited us. David and Alex were amaz....
For service -  Resi/Purchase/Field Gate Close
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Excellent service, really felt involved and well informed,thoughout

By: Kathryn Thompson
Very professional, communication excellent, David and Alex were lovely to work with, I had full co....
For service -  Resi/Purchase/Roehedge
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knowledgable and easy

By: Bramadarshan Ganesan
Thank you for your help withthe mortgage.....
For service -  Resi/Purchase/Hebron Court
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Knowledgable & Trustworthy

By: Zara Truscott
My partner had previously used Rockhopper and was thoroughly satisfied with the service from David. ....
For service -  Purchase/37a Leek Road
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Great communication and efficient handling of mortgage application!

Great service from David and Alex. Found us as good a deal that was available to us at the time, spe....
For service -  Resi/Remo/Victoria Avenue
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Excellent service

Calm and efficient service. Good communications. All went according to olan.....
For service -  Resi/Purchase/Barclaugh Drive
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Returned customer. Very Professional and Knowledgeable Mortgage brokers.

I have always been impressed by the professionalism of the brokers at RockHopper. I worked with them....
For service -  Resi/Remo/Waverley Avenue
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Excellent Service. Would highly recommend.

I received excellent service from David & Alex. Great communication and very efficient, it was a ple....
For service -  Resi/Purchase/Brighton
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Very professional and found us a solution when other brokers couldn't.

David spent time finding a solution for our non standard requirements which other brokers could not ....
For service -  Resi/Remo/Cherrington
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All thanks to Rockhopper, we have just completed on our new home...

By: Graham Fisher
We've just completed on our new home and its all thanks to Rockhopper. Our circumstances are not the....
For service -  Resi/Purchase/Newtown
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Efficient, transparent and helped us get a mortgage when no one else could!

By: Nzinga Akinshegun
Very efficient. Both David and Alex went above and beyond to get us a mortgage. They would answer em....
For service -  Resi/Purchase/Hamslade Cottage
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Great Service, Patient and Helpful.

By: Edward Impey
Kept us informed, looked at different options but mainly sourced us finance where everyone else stru....
For service -  Resi/Purchase/Hamslade Cottage
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Highly Recommend

Great service, unfortunately hampered by terrible service from the lender. David went the extra mile....
For service -  Product TX/Dale Street
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Rockhopper is awesome!

By: Tracey Yoko
Service and communication always professional and efficient. David and Alex were a pleasure to deal ....
For service -  FTB/BTL/Purchase/St Georges Gate
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Excellent service

By: Alistair Myles
RockHopper were efficient and effective and I would not hesitate to recommend them.....
For service -  ProductTX/Westcote Road
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Rockhopper was great service to arrange out mortgage. We found great options quickly and they helpe....
For service -  Resi/Remo/Cleveland Road
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David Rostron helped us finding the perfect mortgage. Highly recommend.

By: Ivor Du Merwe
Service was great and David knows literally everything in the mortgage market.....
For service -  JASP:Resi/Purchase/Woodlands House
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Excellent customer service

By: Christopher Spicer
Great services from start to finish from Alex & David. Good communication and dealt with everything ....
For service -  Resi/Purchase/Bruneval Gardens
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Information is based upon our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.

RockHopper Mortgages is a trading style of RockHopper Origination Limited, an appointed representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority.

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

Some forms of Buy to Let mortgages and Commercial mortgages are not regulated by the Financial Conduct Authority.

A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

RockHopper Origination Limited is a company registered in England and Wales with company number 10241688. Registered Office:Rockhopper, Blackwell House, Guildhall Yard, London, EC2V 5AE

The information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

CONTACT US

Tel: 0203 621 5696
Fax: 0203 621 5697
Email:info@rockhopper.uk.net

Address: Rockhopper, Blackwell House, Guildhall Yard, London, EC2V 5AE

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