Key issue:
Parental guarantees
Case study:
Level Of Guarantee
Date:
2006-05-08
Mortgage amount:
Various

Outcome

Guarante limited

Detail

Some lenders are happy to limit the guarantee amount in afirst time buyer mortgage(where aguaranteeis required) to the difference between the mortgage amount and the level of mortgage the applicants will qualify for.For exaample if applicants qualified for a mortgage of 250k and witha guarantee this increased to 280k i,in some situations the lenderis happy to specify the guarantee figure at 30k.

 
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