gurantour mortgage

Google should find you the answer!

I've a bit of google but not much joy.

No problem mate no offence taken, bot google corrects your spelling you know. Anyway ill ave another bash tomorrow.

...but you'll have more joy with the right spelling!

"Guarantor" is the word you're after.

Jon (not being sarcastic, just trying to be helpful)

In message , Mr-Reece writes

I note the other posters comments re spelling but google wont help you in any event.

What exactly do you mean by Guarantor Mortgage?

I am sure there are loads on this group who can help if you tell us what you really want, not what you think the answer is (if you see what I mean). (BTW no offence intended)

So, please ask us what you really want to know.

Ok the situation is I have a elderly relative who wants to buy their house under the right to buy scheme the only problem is no one will provide a mortgage because the relative is to old. I was looking for a way round this situation and a guarantor mortgage looked like a option, can I have some advice?

In message , Mr_Reece writes

I hope I can help. a Guarantor Mortgage' as you describe it is not the answer. I assume you mean a loan to the elderly relative who gives a mortgage on her house to a lender and the loan is also guaranteed by a third party. A mainstream lender wont go for this because a guarantor is usually only sought if there is a shortfall in income of the borrower. A guarantor is no good to cover age.

How old is your relative?

I think the answer may be for to buy the property jointly with her, if the council will still give the discount.

In message , Mr_Reece writes

Im not sure that is too old. Leave it with me for a day or two. I assume the pension income is sufficient.

Yes it is.