I have 4 properties of which my mother has acted as a guarantor up to €100k on one of them.
I then took out a further re-mortgage that was securitised on combined equity on all 4 properties.
It looks like these may soon be repossessed.
My question is : although a re-mortgage was taken out (partially based on the equity of the one which my mother is a guarantor) does the guarantor only apply to the initial mortgage ?
I.e. If I can somehow ensure there is no shortfall on the specific mortgage which my mother is a guarantor, is she in the clear?
Or could she somehow implicitly have an obligation to the re-mortgage also given it was partially securitised against the property which she acted as a guarantor on originally?
I then took out a further re-mortgage that was securitised on combined equity on all 4 properties.
It looks like these may soon be repossessed.
My question is : although a re-mortgage was taken out (partially based on the equity of the one which my mother is a guarantor) does the guarantor only apply to the initial mortgage ?
I.e. If I can somehow ensure there is no shortfall on the specific mortgage which my mother is a guarantor, is she in the clear?
Or could she somehow implicitly have an obligation to the re-mortgage also given it was partially securitised against the property which she acted as a guarantor on originally?
