- Key issue:
- Parental guarantees
- Case study:
- Guarantee Time Limits
- Date:
- 2006-06-01
- Mortgage amount:
- 350k 92%
Outcome
Guarantor with high income ...facilitate mortgage multiples
Detail
Single Client looking to purchase her first property in Dublin but could not afford to purchase in the area where she wanted to live. She was a school teacher on less than 40k. Her father owned their family home, was in full time employment and earned in excess of 70k per annum. The client needed approval for 350k and managed to secure a property in Raheny on a 92%LTV. The father acted as guarantor for a sufficent period of time until the client could manage the mortgage on her own income. The client managed to buy in an area where she wanted to live and she also had the option to rent out two rooms to make the mortgage more affordable
