I need a guarantor -What are my options?

I'm a ftb and I got a quote for 245,000 mortgage by myself.
The bank also quoted me 295,000 with a guarantor. Unfortunately, they say the guarantor must be a parent and this is not an option for me.
I'm wondering if the parent rule is standard in all banks or do I have other options?

Lenders require a guarantor to be a family member - would a sibling or an uncle/aunt be possible?

Sarah

www.rea.ie

I'm looking for an additional 50,000, would a guarantor only be liable for this amount? What criteria would a guarantor have to meet?

Also, I've seen joint mortgage, sole title being mentioned as an alternative to a guarantor. Is this a good idea or can it be too complicated?

1. Depends on the lender

2. It depends on the circumstances - there's no right or wrong answer.

Sarah

www.rea.ie