Guarantor Loans
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.
Lenders assume it is the guarantor’s responsibility to make loan repayments if the borrower fails to honour the commitment.
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.
"We take the time and hassle out of shopping around for the right home loan, provide expert advice and take care of the entire process, from start to finish."
Kaushalya GunasekeraMortgagepremiers CEO
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 :
Self-employed entrepreneurs
Clients who are new to Australia
Clients with bruised credit history
Clients thinking about refinancing
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