Around 60% of first home buyers get help from their parents, usually in the form of a guarantor home loan.

It’s a great way to get your foot into the property market if you have no deposit but when can you actually remove your parents as guarantors and what’s the process?

How long does a guarantor stay on a mortgage?

Usually, we find that guarantors stay anywhere from two to five years, depending on a couple of factors.

The first one is how quickly you pay down the loan, and the second one is how fast your property increases in value.

Keep in mind that the guarantee is not removed automatically and must be done through refinancing.

What are the criteria for removing the guarantee?

Most of the major lenders or specialist lenders have similar policies when it comes to guarantor loans.

You are eligible to remove the guarantee once you have achieved these general requirements: