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.
Guarantor
A guarantor is someone who provides a guarantee to a lender to assist someone in securing a loan for a property. The guarantor normally agrees to be responsible for repaying a home loan if the borrower is unable to do so. They are normally a parent, family member or close friend, who provide their own security as collateral.
With the guarantee the guarantor doesn’t need to provide a cash payment, just have the security listed as part of the home loan application. This can help the borrower if they have an inefficient deposit or limited credit history.
A person who qualifies as a guarantor should have adequate equity in their property (at least 80%), a good credit history, have a relationship to the borrower, be over 18 years old, a resident, have financial stability and a good understanding of their obligations and any associated risks.
Learn MoreA guarantor typically stays on a mortgage until the borrower meets certain conditions set by the lender. It usually involves achieving sufficient equity in the property or demonstrating the ability to service the loan independently.
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