Guarantor mortgages can help you buy your dream home sooner. By adding a family member to your mortgage application you can increase the amount you could borrow, or increase your deposit size.
What is a guarantor mortgage?
Guarantor mortgages are a way for a parent or relative to support your mortgage application, by guaranteeing that they will pay the mortgage if you weren't able to. This can help you to increase your buying budget or get you on the ladder if you can't save a deposit.
What options are available?
A guarantor can use their property as security, use their income as support, or use cash savings as security. Our Deposit Boost and Income Boost products are modern twists on these more traditional options.
Am I eligible for a guarantor mortgage?
When applying for a guarantor mortgage, you'll need someone who is willing to help you get on the property ladder (at Tembo we call them a Booster). You and your Booster will also need to pass affordability requirements, as well as both having good credit scores.
See how much you increase your borrowing by adding an Income Boost to your mortgage.
Lenders will currently let buyers borrow around 4.5x income, and average house prices sit at 7.5x income.
£720 per month
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