You could get on the property ladder with one of these mortgages with a parent or relative as your guarantor.
Not every mortgage deal in this table is available with a guarantor. However, every mortgage provider we list does offer at least one guarantor mortgage product. Check with the provider or a broker to see which deals you could get.
Application fee | £600 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | £850 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £850 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £600 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | £600 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | £850 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £850 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £850 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 85 years |
Minimum Age | 18 years |
Permanent UK Resident | |
Remortgage Available | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Self Employed Accepted | true |
Application fee | £300 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | £550 with an option to add to the loan for remortgage |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £550 with an option to add to the loan for remortgage |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £300 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | £300 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | £550 with an option to add to the loan for remortgage |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £550 with an option to add to the loan for remortgage |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £550 with an option to add to the loan for remortgage |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £300 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | £550 with an option to add to the loan for remortgage |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £550 with an option to add to the loan for remortgage |
Arrangement fee | No fee |
Booking fee | £300 paid upfront (non-refundable) |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | £600 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Self Employed Accepted | true |
Application fee | £850 with an option to add to the loan |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Remortgage Only | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | No fee |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available Direct | |
Available in England | |
Available in Wales | |
First Time Buyers | |
Max age at term end | 70 years |
Minimum Age | 21 years |
Permanent UK Resident | |
Remortgage Available | |
Self Employed Accepted | true |
Application fee | No fee |
Arrangement fee | £499 with an option to add to the loan |
Booking fee | No fee |
Completion fee | No fee |
Product fee | No fee |
Available in England | |
Available in Wales | |
Broker Only | |
First Time Buyers | |
Minimum Age | 18 years |
Minimum Income | £8,500 |
Permanent UK Resident | |
Remortgage Available | |
Self Employed Accepted | true |
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Based on borrowing | £170,000 over 25 years | The overall cost of comparison | 6.41% APRC Representative |
---|---|---|---|
Initial rate | 5.44% fixed for 2 years (24 instalments of £1174.37pm) | Subsequent rate (SVR) | 6.69% variable for the remaining 23 years (276 instalments of £1135.60pm) |
Lender fee | £556 | Total amount payable | £342,166.74 |
A guarantor mortgage is a home loan designed for borrowers who might not earn enough to get a mortgage on their own. The guarantor agrees to guarantee they will repay the mortgage if the borrower does not meet their agreed payments.
A guarantor mortgage may be suitable for borrowers who:
Are struggling to find a loan big enough enough for a home
Don’t have any credit history - a younger borrower who may have a reasonable income but no history of credit
Someone with a poor credit history
The person who guarantees the mortgage has to offer up their own home, or savings as security to the mortgage lender.
The person who acts as a guarantor will need to get legal advice as they will be putting their name on legal documents
With some types of guarantor mortgages, such as a parent guarantor mortgage, the guarantor agrees to set aside money in a savings account. The savings still earn interest but are there to be used as security in case the borrower misses a repayment.
There are other forms of guarantor mortgage where the money is held in an account but doesn’t earn interest.
In April 2021 the UK Government introduced a mortgage guarantee scheme. The scheme is open to new 95% mortgages until 31 December 2022, with participating lenders offering 95% mortgages under the government guarantee from 19 April 2021. Find out about the Government scheme.
The guarantor is only named on the mortgage documents, so they won’t be named on the title deeds of the property and have no entitlement to, or share of, the property.
Parents or close relatives can be guarantors, especially if they have good credit and a larger income. Some lenders insist a guarantor is a member of the borrower’s family and have paid off their own mortgage. Guarantors can be retired so long as they can prove they have the savings or assets in place to step in and cover repayments if needed.
It is possible to get a guarantor mortgage if you have a bad credit score as some of the risk of paying back the mortgage is shared with the person guaranteeing the mortgage.
Depending on the lender you choose, your guarantor could be a relative or close friend. Unlike a joint mortgage with your parents, you could both lose your homes if you stop repaying your guarantor mortgage. However, if you pay your guarantor mortgage each month, there is no financial risk to you or your guarantor.
Some lenders only accept parents or grandparents as a guarantor, but others are more flexible. Whoever you use, they usually need to:
Own a property outright or a certain amount of equity
Earn a high income
Have an excellent credit record
Use this comparison page to find the lowest interest rate for the term you want. Check the lender can accept your guarantor before you apply.
Although guarantor mortgages may seem more suited to first time buyers they can be used by other borrowers.
Someone taking out a mortgage to move home.
For remortgages, provided past payment history shows a perfect payment record.
If you are changing the borrower; for example if you are buying a former spouse out of a joint mortgage
You do not need a guarantor mortgage deposit in all cases, but if you have one it could help you get a better deal. For example, a 100% loan to value (LTV) mortgage requires no deposit but is likely to charge you a higher interest rate than a 95% LTV mortgage deal with a 5% deposit.
You still need to have enough money to pay for any legal fees or stamp duty for buying your home. Depending on the price of your property, this could cost you thousands.
Find out how much you can borrow before applying for a mortgage
Yes, most guarantor mortgage deals in this comparison are designed for first time buyers. Compare all first time mortgages here.
Yes, if your guarantor has a strong credit history and meets the mortgage lending criteria. You can compare mortgages for bad credit here.
No, you have to apply for a buy to let mortgage if you plan on renting out your property.
Yes, but if you want a mortgage solely in your name, you can compare and apply for a self employed mortgage.
Being a guarantor can help your loved one get on the property ladder, but it comes with risks. Here is what to consider before becoming a guarantor.
Yes and lenders will want guarantors to have a good credit score, and the stronger the score the better chance there is of the mortgage being approved.
We include mortgages that may accept guarantors from every lender in the UK. They are all from lenders regulated by the Financial Conduct Authority. Here is more information about how our website works.
We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.
Last updated: 11 October, 2021
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