READER QUESTION
Q My daughter wants to take out a guarantor mortgage with me as her ‘guarantor’. What are the risks if I agree to do this?
A As a guarantor, you would take on the responsibility to make the mortgage repayments if your daughter can’t, and you’ll usually need to use savings or your own property as security. The worst-case scenario is that you could lose your savings or your house if the repayments aren’t kept up. There are other risks too. Learn more at moneysupermarket.com.
