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Guarantor
Loans

Guarantor Loans

If saving a deposit for a loan feels too hard, or you’re worried about your borrowing capacity, a guarantor loan may be the right choice. A guarantor loan can strengthen your application, and as an experienced broker, we can help you find the right option to meet your needs.

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How Does a Guarantor Loan Work?

By allowing a family member (usually a parent) to offer their property as additional security for your loan, it can help you:

  • Buy with a smaller deposit
  • Reduce or avoid Lenders Mortgage Insurance (LMI)
  • Strengthen your borrowing capability
  • Buy a property sooner.
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How LoanZaver Can Help

We take the stress out of guarantor loans.

  • We explain the guarantor’s responsibilities clearly
  • We outline the safest way to structure the guarantee
  • We help you understand the loan amount you can comfortably repay
  • We prepare the application and communicate with the lender
  • We show you how the guarantee can be released in the future
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FAQs

Answers to the most common questions about guarantor loans.

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Who can be my guarantor?

It’s different for all lenders, but most lenders allow parents, and some may accept siblings or close family members.

Does the guarantor need to contribute money?

No, the guarantee provided is based on equity in their property.

Is the guarantee permanent? How long does a guarantor loan last?

No, once you’ve built enough equity in your property, the guarantee can be removed.

Is there any risk to the guarantor?

Of course, yes there is some risk and responsibility involved. At LoanZaver, we ensure everyone understands the commitment before the application is lodged.