At CRC Mortgages, we understand that buying your first home, especially in a vibrant city such as Liverpool, can feel overwhelming, particularly when facing challenges around affordability. Many first-time buyers find that their income, credit score or deposit may not quite meet lender criteria, making a guarantor mortgage an appealing option. With trusted family members’ support, our advisers can help guide you through understanding and securing guarantor mortgages in Liverpool as smoothly as possible.
What is a Guarantor Mortgage?
A guarantor mortgage allows you to step onto the property ladder with the assistance of a close family member—usually parents, grandparents, or siblings. This person acts as a guarantor, agreeing to cover your mortgage repayments if you are unable to. Securing a guarantor mortgage in Liverpool typically provides first-time home buyers with an increased chance of approval, particularly if they have limited deposit savings or concerns about meeting affordability criteria.
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT
The FCA does not regulate some forms of Buy to Lets. Think carefully before securing other debts against your home/property.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £449 to £699 and this will be discussed and agreed with you at the earliest opportunity.
If you would like to speak with an adviser,
please contact us below.
Benefits of Using a Guarantor Mortgage Broker Liverpool
Choosing the right guarantor mortgage can seem complicated. By working with a professional mortgage broker in Liverpool, you can receive tailored assistance built around your specific financial circumstances, goals, and family support network. CRC Mortgages advisers have extensive experience helping Liverpool residents navigate every step of guarantor mortgage applications, providing clarity and guidance to ensure you understand the responsibilities of both borrower and guarantor.
Our focused and personalised approach involves carefully assessing lender eligibility criteria, comparing mortgage types, and clearly explaining the implications for all parties involved. This helps ensure you find the most suitable guarantor mortgage as simply, clearly, and quickly as possible.
Who Can Be a Guarantor?
Usually, lenders prefer guarantors who are immediate family members such as parents, siblings, or grandparents. Guarantors typically require stable employment and a good credit history, sufficient to satisfy lenders that they could meet mortgage repayments if necessary. Crucially, guarantors typically own property themselves or possess adequate equity or savings, which reassures lenders and increases chances of mortgage approval.
Our Guarantor Mortgage Advice Liverpool — How We Can Help
CRC Mortgages provides clear and helpful mortgage advice to Liverpool homebuyers looking for guarantor mortgages. From initial fact-finding and affordability checks, through to application submission, we guide you every step of the way. Our advisers bridge the gap between complicated lender jargon and your day-to-day decision-making, ensuring both borrowers and guarantors understand their obligations and potential risks.
As experienced and trusted Liverpool mortgage brokers, we will:
- Explain clearly how guarantor mortgages work and who they best suit.
- Assess your financial circumstances to determine if a guarantor mortgage is genuinely the most suitable option for your situation.
- Help identify lenders whose criteria best match your individual circumstances.
- Prepare your mortgage application thoroughly and support you throughout the process, aiming to ensure it runs as smoothly as possible.
- Clearly communicate with your chosen guarantor to answer any queries or concerns.
Why Choose Our Mortgage Advisors Liverpool?
At CRC Mortgages, we take pride in our client-centred approach and extensive local knowledge. Our advisors are dedicated to delivering friendly, transparent, and approachable mortgage assistance to Liverpool residents. We take the time to understand your needs fully, offering professional but straightforward mortgage advice. Our understanding of the local Liverpool property market, coupled with expertise in guarantor mortgage criteria, positions us ideally to support first-time buyers in securing practical mortgage solutions.
We are committed to providing prompt, reliable services to help ease your journey onto the housing ladder as much as possible.
Frequently Asked Questions about Guarantor Mortgages in Liverpool
What responsibilities does a mortgage guarantor have?
A mortgage guarantor agrees legally to take responsibility for mortgage repayments should the borrower be unable to meet them. This responsibility is significant and should be fully understood by both parties entering into the agreement.
Does a guarantor legally own part of my property?
No, guarantors typically have no legal ownership or claim to the property. Their role is specifically about providing assurance to the lender through their income, savings or property equity as security.
Is a guarantor mortgage suitable for first-time buyers?
Yes, guarantor mortgages often appeal to first-time buyers who may not meet affordability criteria independently. They may help buyers with smaller deposits or lower incomes access more affordable mortgage deals.
Can my guarantor be retired?
Some lenders accept retired guarantors as long as they can demonstrate suitable income or available savings. This will vary between lenders, and our brokers can guide you toward suitable options.
How long does a guarantor typically remain on a mortgage?
Generally, a guarantor remains obligated until the borrower has either improved their financial situation sufficiently for the lender to remove the guarantor, paid off a substantial portion of the mortgage, or decided to remortgage onto a different product without the guarantor.
If you’re considering a guarantor mortgage in Liverpool, speak with our helpful mortgage advisers at CRC Mortgages today. We will take time to fully understand your situation and work hard to help you secure a suitable guarantor mortgage, bringing your goal of homeownership within reach.