Understandably, not all parents are happy to see a charge against their own home (presumably having worked over the years to get to a minimal mortgage or that treasured ‘mortgage free status’) - and guarantor mortgages tend to be more expensive across the whole borrowing than standard mortgage products.
While the great majority of mortgage lenders it is not acceptable for you to ‘borrow your deposit’ - any parental or family assistance must be as a gift (which again not all parents are happy to do), however .....
We now have a lender willing to accept a formal family loan providing up to 100% of the deposit, an arrangement which offers many advantages, including:
|