If your savings are not enough for a deposit or your lender distrusts your ability to pay back the loan, you may have to consider a guarantor loan to buy your first home. Guarantors usually present their own property or the equity in it as a security to guarantee your loan amount – in full or proportion.
With a borrowing capacity of 100% of the property price, guarantor’s loans enable the borrowers with a slew of advantages – if you are in a precarious financial situation.
Evade LMIs (lenders mortgage insurance), unlock better loan rates, and buy your property as early as now with a guarantor on your side. As you may not know, guarantors are only liable to pay back the loan amount they guaranteed and release from further liabilities – when paid.
No matter what, lenders are conservative with guarantor loans. Consult your guarantor loan specialist at Mortgage Premiers today and know if you qualify.We commit to :
- Kaushalya Gunasekera -
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