A guarantor mortgage could help you buy a home.

Many first time buyers struggling to save a good deposit, are finding that with parental help they are able to buy a home. If your parent is willing to guarantee your mortgage repayments you could be eligible for a guarantor mortgage.

However not all lenders offer such deals, so for advice and to find a lender wiling to offer you a mortgage call independent 'whole of market' Deal Direct on 0800 048 8828. We know who to talk to about getting you a great mortgage offer.

Deal Direct can find you a competitive mortgage to allow you to purchase a first home, move house or remortgage an existing property.

How does a guarantor mortgage work?

You will need a relative willing to guarantee your repayments. Your guarantor is not required to hand over any money, however they are required to step in and make your mortgage payments if you fail to keep up.

For the person guaranteeing your mortgage there is a downside, if you fail to keep up with payments then your guarantor is at financial risk. In addition they may be restricted from borrowing additional funds on their own home during the period they act as your guarantor.

Applying for a guarantor mortgage.

Those lenders willing to offer a mortgage on this basis often favour applicants who have demonstrated a high likelihood of increasing their earnings over the coming years.

If you want to apply for a guarantor mortgage you are advised to contact the mortgage team at Deal Direct on 0800 048 8828.

We can talk you through your mortgage options, once you have decided which product is right for your circumstances we will search every lenders range to come up with the most competitive offer.

For the right mortgage at the right rate speak to an adviser on 0800 048 8828.