Will Provide A Guarantee To The Lender To Cover Any Shortfall In The Event Of Default. by Morris Billy

Guarantor Mortgage &ndash generally, a parent or close family member will guarantee the mortgage debt and will cover the repayment obligations should the borrower default.Family offset mortgage &ndash typically, a parent or grandparent will put their savings into an account linked to the borrower&rsquos mortgage. They do not get any interest on these savings whilst offsetting the mortgage but will be able to get their money back in full once the mortgage has been paid down to between 70% and 80% of the property&rsquos market value.