Each individual who guarantees the mortgage can cover 100% of their mortgage commitments to the bank.
Some insurance companies may allow covering 110% of the mortgage payments to the bank.
If one is not able to afford covering the whole mortgage repayment premium, he/she can also partially cover the mortgage repayments.
To keep premiums affordable one may opt to have different wait periods like:
It also has options to chose the payment term from 2 years, 5 years and upto the age of 65.