Posted on: 07th Dec, 2008 09:41 am
Hi, I in the process of filling out a AIP for Bristol and West First Start mortgage and am unsure of a few things. I will probably phone them up tomorrow but if anyone could help in the meantime that would be good so I can have most of the form done by tomorrow. I am using my mum as a kind of guarantor but, its kind of like a joint mortgage except she only has to pay if I dont. When the form asks about her outstanding mortgage, do I put the whole amount or only half as its a joint mortgage with my father. Also, does my fathers pension count as additional income for her?
Hi Guest!
Welcome to forums!
As far as I can understand your mother will be a co-borrower for the loan. If the form has asked for "her" outstanding mortgage, then I think you should mention the amount which she is liable to pay rather than the whole amount. But I will still suggest you to ask your lender before filling it up. As far as I know, pension is not considered as an earned income.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
As far as I can understand your mother will be a co-borrower for the loan. If the form has asked for "her" outstanding mortgage, then I think you should mention the amount which she is liable to pay rather than the whole amount. But I will still suggest you to ask your lender before filling it up. As far as I know, pension is not considered as an earned income.
Feel free to ask if you have further queries.
Sussane