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Max. Rate: 12% p.a.
incl Cedi Mortgages
Repayment Period
Up to 30 years
No Upfront Fees
T&Cs Apply

Guarantor Mortgage

A guarantor mortgage is a unique home loan for low deposit borrowers which is secured by a third party, usually a parent (or a profiled employer). The guarantor provide their home or other assets as security against the loan - Their home could be repossessed (in addition to that of the borrower) if repayments are not made. A guarantor doesn't have the same property rights as a co-signor since their name is only on the mortgage and not on the title of the property (stamp duty avoidance on second home). Unlike a co-signor, the guarantor typically becomes liable for default only after we have exhausted all other means of collection against the primary borrower.

We offer guarantor mortgages partly because of the difficulty first time buyers (esp low income earners) have getting on the property ladder. Parent guarantor mortgages can help children buy their first home. We would want to know if your guarantor can pay off their own existing debts as well as the new mortgage. Someone with direct financial links to you, such as your spouse, may not be eligible - you can make a joint application with your spouse instead. This type of mortgage is usually for first time buyers who have pre-existing homeowner parents, but cannot get a mortgage on their own. Can be used in the following circumstances:

• do not earn enough

• cannot save a big enough deposit

• have a bad credit record

 

If all mortgage repayments are made on time, the mortgage works in the normal way. This means the guarantor does not have to pay anything. But it’s important to understand that a guarantor could lose the property or other security they used to guarantee the mortgage if repayments are missed (If too many payments are missed).

Guarantor mortgages are strictly available to first time buyers (owner-occupiers) and not available for rental property or second homes.

MORTGAGES ARE SECURED AGAINST YOUR PROPERTY. YOUR HOME (OR COMMERCIAL PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBTS SECURED ON IT - REPAYMENT ASSISTANCE PROGRAMME AVAILABLE FOR QUALIFIED CUSTOMERS. ALL APPLICATIONS ARE SUBJECT TO STATUS AND OUR LENDING CRITERIA - THIS MEANS THAT THE AMOUNT WE WILL LEND YOU WILL DEPEND ON YOUR INDIVIDUAL CIRCUMSTANCES, THE TYPE OF PROPERTY AND THE AMOUNT YOU BORROW.

We are Non-Deposit Taking No Upfront Fee Direct Lenders (not brokers). Using this digital-first platform constitutes acceptance of the terms, conditions and rules that govern our operations, so if you disagree with any of them in part or in whole, please don't use our services. All loanable funds are private patient capital from dedicated sustainable and reliable sources and not sourced funds from the general public. We're Fully-Compliant: Our home mortgages are structured as Seller-Financed Mortgages (SFM), or International Mortgages or Rent-to-Buy Mortgages, which do not require Bank of Ghana (BoG) regulation. Commercial Mortgages are also not regulated by the BoG. Prospective mortgage applicants are not restricted to buy a home from our internal partners DCANS Properties or Rent to Buy Ghana or any of our in-house home providers.

© 2022 DCANS Mortgage, Ghana, affiliated to DCANS Mortgage UK (FCA-Compliant), Patient Capital Providers DCANS Capital Limited (England & Wales, CRN: 07970200) and DCANS Investments Limited (Ghana, CRN:) and Osei Family Office (SFO), Proprietary Trading Firms DCANS FX and XAU79 and Crypto81, BNPL Providers DCANS Pay (Ghana) and Quid Pay (UK), No Upfront Fee Non-Deposit Taking Direct Platform Lenders Sikamaster Loans (Ghana) and Quidmaster Loans (UK), UK-based Remittance Platform to Africa & Beyond Moneyafrique, TDG Startup Ecosystem Platforms GhanaStartups.org and UKStartups.net and EUStartups.net and Groupwide IHB DBL UK (England & Wales, CRN: 09012597) , are all part of the AML-Compliant TDG GLOBAL CREDIT SYSTEM of The DCANS Group (TDG) Limited (England & Wales, CRN: 12645872, VAT #: GB 157 9161 82), but dual-headquartered in Ghana & the UK.

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