In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
Co-Borrower
A person who applies for and shares liability of a loan with another borrower. They are equally responsible for repaying the loan and meeting any requirements associated with it.
A co borrower can provide additional financial support and can strengthen the application, both parties need to understand the implications and responsibilities involved before proceeding with any application.
The difference between a co-borrower and a guarantor is that a guarantor is responsible for the debt repayment if the borrower (applicant) is unable to pay but has no benefits of owning any part of the property
Learn MoreYes, to remove a co-borrower from a mortgage consider refinancing your mortgage in your name alone. It is important to remember that the original loan assessment has changed in terms of approval, as the lender is looking only at the financial variables for one person instead of two. So, its will be a new assessment of that individual’s finances to make sure they can service the loan on their own.
Learn MoreYes, your co-borrower should also have a fairly clean credit history if a lender is going to proceed with a home loan.
Learn More
