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If outwith affordability for applicant s we will also require 2. A Parental Letter of Support for monthly payments required to support any borrowing above normal affordability on the applicant s own income. 59 SVR-1. 7 APR 5. 1 or a 3 year fixed rate of 4. 79 APR 5. 4. Rate charged after the initial rate will be at the Society s standard variable rate currently 5. Insurances Buildings Insurance must be arranged prior to funds being released. Our advisers can provide competitive quotations...

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What is first time buyer guarantor?

First time buyer guarantor is a person who agrees to guarantee a mortgage for someone who is buying their first property.

Who is required to file first time buyer guarantor?

First time buyers who do not meet the necessary criteria for a mortgage on their own may be required to have a guarantor.

How to fill out first time buyer guarantor?

To fill out a first time buyer guarantor form, the guarantor will need to provide their personal information, financial details, and sign the necessary documents.

What is the purpose of first time buyer guarantor?

The purpose of a first time buyer guarantor is to provide additional security for the lender in case the borrower is unable to meet their mortgage payments.

What information must be reported on first time buyer guarantor?

Information such as the guarantor's name, address, contact details, financial information, and relationship to the borrower must be reported on the first time buyer guarantor form.

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