His Mortgage or Ours?

It is lack of trust to a certain extent, we are in a tough time at the moment and its taking its toll on both of us which we are trying to work on but this house and mortgage seem to be causeing an awful lot of the problems! Hopefully once we come to an agreement or something then we might get the trust back! I know, the obvious thing is to work on that first but we are in a situation at the moment that the only way to get out is to buy our own place!

So can anyone tell me how many gaurentors you can use and would it make a difference, maybe I should start a new topic with this question?
 
Why is it necessary to buy a house at all? As your relationship seems to lack trust and as you are not married you should not create a further mess by bringing your parents in as guarantors.

Anyone who contributes to a mortgage acquires some equity in the property, married or not.
 
The Misses said:
Can anyone tell me, the bank told him that if he had a guarentor then he might be able to get more money, if that is true, can you only have 1? My reason for asking is, if I go on the mortgage, both my parents would be guarentor if I ask them, could that maybe equal the amount if all dependents are declared?

Thanks,
The Misses
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Just on the guarantor point. My folks are going guarantor for me (on my own) but my solicitor mentioned to me that the most frequent and biggest problems when parents go guarantor are where they are asked to guarantee son/daughter + boyfriend/girlfriend. Then, if the couple split up, e.g. daughter moves out, boyfriend stops paying mortgage and parents end up paying for b/friend to stay in the house!

It's extreme, I know, but your parents need to be VERY aware of what they are signing up to if you do ask them to go guarantor.

I agree with the other posters - take a break from the house hunting and see how things settle down in the meantime. As you say, the house search itself is causing stress, so perhaps things will improve if you decide to put it off for a bit. Then you can keep saving as well and build up a bigger deposit, which will hopefully ultimately solve the problem in that you (ye) may then be able to get the mortgage and house in both names.

Good luck with it
Sprite
 
Thanks for all the replies, we are going to take a break from the hunting for a while and hopefully let everything settle then maybe as you all said, we might be in a better postion. Thanks again,

The Misses.
 
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