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New overtures to buying problems
Can Your Parents Help?
Can they —
— lend you a deposit?
— share the mortgage? If they have a small or no mortgage they may be able to become a party to your mortgage. This means they become joint owners with you.
— be guarantors?
Some lenders may allow you to borrow a higher amount when you have your parents as guarantors — this simply means that they commit to pay your monthly mortgage repayments if you cannot.
Your parents will be screened and credit vetted by the lender.
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