{"id":161497,"date":"2019-01-10T13:55:16","date_gmt":"2019-01-10T13:55:16","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=161497"},"modified":"2026-01-29T04:42:45","modified_gmt":"2026-01-29T04:42:45","slug":"will-being-a-guarantor-affect-my-mortgage-application","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/mortgages\/will-being-a-guarantor-affect-my-mortgage-application","title":{"rendered":"Will being a guarantor affect my mortgage application?"},"content":{"rendered":"

It’s not just the threat of having to take on the loanee’s debt if they fall behind on their repayments, i<\/strong><\/span>t<\/strong> <\/span>could also affect your ability to be approved for a mortgage.<\/strong><\/p>

The mortgage application process has become far more stringent in recent years, now often including questions about loans you’ve guaranteed. These loans will be considered among all your other financial obligations before a lender makes a decision on your mortgage eligibility.

Will being a guarantor appear on my credit report?<\/h3>

Your credit report won’t be affected by your decision to be a guarantor, except in the case where you have to cover the loanee’s repayments.<\/p>

In this scenario, both timely and missed repayments will be logged on your credit report as if you applied for the loan.<\/p>

Provided this doesn’t happen, your ability to be approved for other types of credit won’t be affected by being a guarantor.<\/p>

It’s only during mortgage applications that being a guarantor will be taken into account by lenders.<\/p><\/div><\/div><\/div><\/div>

How much impact will this have on my mortgage application?<\/h3>

Individual lenders will each measure the impact of being a guarantor differently.<\/p>

However, all of them will consider the amount of debt you’ve guaranteed and your ability to potentially take this on.<\/p>

Being named a guarantor on a family member’s \u00a3500,000 mortgage will certainly concern lenders more than guaranteeing a \u00a35,000 car loan.<\/p>

Even so, you could still be granted your own mortgage, provided you could pay it off while taking on your family member’s debt.<\/p><\/div><\/div><\/div><\/div>

Am I eligible to be a guarantor?<\/h3>

You don’t need any formal relationship with a loanee to be named as their guarantor. However, it’s only recommended you agree to do this for people you trust and care about. You can’t be a guarantor for anyone you jointly share financial products with (eg a joint mortgage<\/a> or joint bank account).<\/p>

Lenders will run a credit check on you to ensure you are financially equipped to be a guarantor. This credit check will cause a short-term hit to your credit score.<\/p>

If you’re not considered creditworthy enough to be someone’s guarantor, it’s likely you won’t be approved for your own mortgage either.<\/p><\/div><\/div><\/div><\/div>

Tips to increase your chances of mortgage approval<\/strong><\/h3>