A guarantor mortgage means a family member agrees to guarantee your mortgage repayments. If you can't pay up, the guarantor has to step in.
The majority of lenders will require your guarantor to be a homeowner, and their property will be used as security against the loan. That means their home could be at risk if you default on the mortgage payments.
You can get guarantor mortgages where savings are used as security instead of a property. In this case, the guarantor may have to offer up their savings to pay your mortgage if you don’t.
Either way, the guarantor is making a huge financial commitment on your behalf, and you'll need to talk to them about whether they're willing to do this.
Even if you do have a guarantor who's willing to help, some lenders will still ask you for a deposit. The bigger your deposit, the better the rates you'll be offered.