Guarantor Home loans
Borrow up to 105% of the property value and pay NO LMI
You can borrow up to 105% with a guarantor home loan.
Save money by not paying LMI premium.
Get into the property market faster with a smaller deposit.
Minimise your family's risk and exposure by opting for a Limited Guarantee.
How Do Guarantor Loans Works
A guarantor home loan is when someone in your family (usually parents) uses their property to help you get a loan. With this type of loan, you can borrow from up to 105% of the property's price. In this arrangement, 80% of the loan is secured against the property you're buying, and the remaining 25% is secured against your parents property.
The Four Different Types of Guarantor Home Loans
Guarantor loans help people enter the property market, especially if they have limited savings or a lower income. Keep in mind that different lenders may have varying terms, so it's crucial to get advice from financial experts to understand the responsibilities of each guarantor arrangement.
Security Guarantee
The guarantor uses their property as additional security for the borrower's loan.
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Suitable for first-time homebuyers with good credit but no deposit.
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If the guarantor already has a mortgage on their property, the lender may take a second mortgage as security.
Family Guarantee
Guarantor is a family member directly related to the borrower.
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Applies to various family members, including parents, grandparents, and siblings, on a case-by-case basis.
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Limited Guarantee
Only part of the loan is guaranteed by the guarantor, reducing their potential liability.
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Often used with security guarantees to limit the exposure secured on the guarantor’s property.
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Security and Income Guarantee
The guarantor provides both their property as security and their income to prove loan affordability.
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Often used when a borrower, typically a student or someone with a low income, needs assistance in buying their first property.
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FAQs about Guarantor Home Loans
We're here to support you through the entire home buying journey.
Make an enquiry
Send us an enquiry or call us on 1300 103 998. Our team will call you within 30 minutes during business hours. Our service is free of charge.
Get a pre-approval
We’ll review your situation and help you understand your borrowing capacity and help you to obtain a pre approved home loan.
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House Hunt
Once your pre-approval is in place, you can go house hunting. If you find something you like, let us know, and we’ll provide you with property reports. to aid you in your decision-making process.
Home Loan Finalised
Once you pick the lender, we'll prepare your application and oversee the entire process to get your home loan approved.
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