How does a guarantor mortgage work?

With a guarantor mortgage, guarantors become liable for the mortgage debt if the borrower can’t make the repayments. As part of this arrangement, a guarantor often has to provide security such as their own property. However, this is not needed with an income booster.

How is an income booster different?

An income booster is on the mortgage and is responsible for the mortgage loan alongside the other borrowers. They can choose whether to contribute or to just be on standby in case they are needed. When assessing an income booster, we look at their income, outgoings and credit history.

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