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Getting a Mortgage as a Guarantor

Getting a Mortgage as a Guarantor
Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: June 29, 2022
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"Hi, Does being a rent guarantor affect me getting a mortgage?"

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Hi there,

Thanks for your enquiry, we’re happy to help.

If you apply for a mortgage and are a guarantor for a family member or friend, it could affect your application.

Lenders take a close look at all aspects of your income and outgoings, so the potential risk that you, as guarantor, may have to pay their debt, could have a negative impact when it comes to calculating affordability.

So it is possible that being a guarantor could prevent you from getting another mortgage.

This is why it’s important to think long and hard before you go guarantor, even for someone you trust, such as a close family member.

If you have questions and want to speak to an expert for the right advice, call Online Mortgage Advisor today on 0808 189 2301 or make an enquiry here.

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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