Does Having a Guarantor Help Get a Bigger Mortgage?

Having a guarantor can help you to get a larger mortgage, and this can be true in some situations even if you have a small deposit, or no deposit at all – as some guarantor mortgages allow you to borrow up to 100% of the property value. This is because the guarantor's home or savings is the security against the loan.

Can you get a bigger mortgage with a guarantor?

A low income: lenders will decide how much to lend you based on your income, so having a guarantor may enable you to get a bigger loan. A small/no deposit: you could potentially borrow up to 100% of a property's value with a guarantor mortgage.

Does having a guarantor increase the amount you can borrow?

While a guarantor can help you in your home buying journey, having a guarantor does not mean that your borrowing power will increase. Your borrowing power can be determined by taking into account your income and expense to understand the amount of a loan you can service with your financial circumstances.