What Is a Mortgage With a Guarantor? A guarantor mortgage allows you to have someone else–usually a close family member–act as a guarantor on your mortgage. The guarantor promises to cover the mortgage repayments if you CAN’T make them yourself. This gives lenders more confidence to approve mortgages for borrowers who may struggle due to […]
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How Much Can I Borrow With a Guarantor Mortgage?
What’s a Guarantor Mortgage? A guarantor mortgage helps you buy a home even if you struggle to get a regular mortgage on your own. In this type of mortgage, someone else, typically a close relative like a parent, agrees to be the guarantor. This means the guarantor takes on some legal responsibility for the mortgage. […]
What Are Guarantor Mortgages? A Complete Guide
How Do Guarantor Mortgages Work? Guarantor mortgages offer extra security to lenders. Unlike a normal mortgage where just the house is security, a guarantor adds their own home (or savings) as a backup. Here’s how it works: The lender gets your guarantor to sign a legal agreement. This means if you miss repayments, the GUARANTOR […]
How Long Should I Fix My Mortgage For? 2,3, or 5 Years?
What is a Fixed Rate Mortgage? A fixed rate mortgage gives you the same interest rate for a set period. This is different from a variable or tracker mortgage where the rate can change based on the Bank of England’s base rates, your lenders’ discretion, or other economic factors. The main benefits of a fixed […]
What Happens When Your Fixed-Rate Mortgage Ends?
When Your Fixed-Rate Mortgage Ends… Once your fixed-rate deal ends, you won’t be automatically free of payments. Instead, your mortgage typically shifts to your lender’s Standard Variable Rate (SVR). The SVR is a type of interest rate that can VARY at any time at the discretion of your lender. This is often influenced by changes […]
What is a Long-Term Fixed Rate Mortgage?
A long-term fixed rate mortgage allows you to lock in an interest rate for an extended period, often 5 years or longer. With a traditional fixed rate deal, your interest rate is only set for 2-5 years before you need to remortgage. But with a long-term fixed, you can secure your rate for 10, 15, […]
