joint mortgage, single name on deeds, mortgage problem?

just to point out , there is a difference between a joint mortgage and a mortgage with a guarantor. Generally lender's will only accept a family member as a guarantor, not partners. They will however allow a joint mortgage one on title mortgage. , the joint mortgagor in this case is not a guarantor they are fully liable for the full mortgage amount.
 
Oh, I didnt know that a guarantor had to be a family member. If this is the case it throws a small spanner in the works!!!
 
I didn't know that a guarantor had to be a family member
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it doesn't have to be Salmon, however most lenders do not consider a guarantor unless they are a family member.

look at it from the lenders prospective, you qualify for x amount but need to borrow a further €50,000, if your partner was allowed act as guarantor for additional amount whose to say they will be around in say 1 years time? let's say you split up, you miss mortgage repayments, the lender goes to the guarantor in respect of the missed payments and the guarantor is your ex ..The bank are not likely to recoup any repayments against the arrears from your ex so from the banks prospective a partner is not considered a very strong guarantor.
 
Sorry for resurrecting a nearly 12 year old thread but I'm wondering if anyone has any insight into the current position on this for the various lenders in the market? I know someone who has recently divorced and has six months to transfer payment to her ex-spouse in lieu of an order of sale. She is self-employed so was unable to secure a mortgage in her own right with her existing provider despite a very low LTV. She was also unable to get mortgage approval elsewhere. Her partner applied jointly with her and they got approval in principle from KBC but she was advised by her solicitor that they do not facilitate joint mortgages with single names on the deeds, so there's a fairly hefty CAT bill on the table for the partner if they proceed with them. What's the story with AIB/BOI etc?
 
24601 said:
Sorry for resurrecting a nearly 12 year old thread but I'm wondering if anyone has any insight into the current position on this for the various lenders in the market? I know someone who has recently divorced and has six months to transfer payment to her ex-spouse in lieu of an order of sale. She is self-employed so was unable to secure a mortgage in her own right with her existing provider despite a very low LTV. She was also unable to get mortgage approval elsewhere. Her partner applied jointly with her and they got approval in principle from KBC but she was advised by her solicitor that they do not facilitate joint mortgages with single names on the deeds, so there's a fairly hefty CAT bill on the table for the partner if they proceed with them. What's the story with AIB/BOI etc?
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Sorry for bumping this but just wondering if anybody has any insight on this. I've been unsuccessful getting responses from the banks.
 
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