Guarantors |
H Clearly this is a matter that requires very careful thought by all concerned and independent legal advice should be taken. With this type of mortgage the Guarantor will be responsible for the mortgage if the payments are not made by the borrower. Each enquiry is assessed individually as we appreciate that everyone has different requirements. Please let us know how your clients' would like to see the mortgage operate and we will do our very best to help. Key features of this mortgage |
igh house prices are making it difficult for some people to buy the home they would like. However, one way to solve this problem is to have a close relative or friend to act as a Guarantor.| Minimum loan: | £25,001 |
| Maximum loan: | £1,000,000 |
| Value of property: | Not less than £75,000 |
| Max Loan to Value: | 75% of the property value |
| Current variable rate: | 6.19% * |
| Overall cost for comparison: | 6.50% APR * |
| Leasehold: | Plus 0.15% to above rates |
| Portable: | Yes |
| Ages: | Minimum 18 - no maximum |
| Income capacity: | Based on affordability |
| Valuation fee: | See Scale |
| Property location: | England and Wales |
| Repayment methods: | Repayment, interest-only, part & part |
| Administration Fee: | £25 |
| Available for new purchase: | Yes |
| Available for remortgage: | Yes |
| Early repayment charge: | For the first 3 years |
| Deeds Release fee: | £50 |
| Redemption fee: | £75 |
*The actual rate payable will depend upon your client's individual circumstances, please ask for a personalised illustration. To discuss your client's requirements, either complete our on-line Enquiry form or telephone our Mortgage Department on 01582 765411. Building insurance cover is required and can be arranged by the Society. |
The Society is authorised and regulated by the
Financial Services Authority