- 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.
