Guarantors Support  

Guarantor support is available to assist customers obtain a home loan when they are unable to provide adequate security in cases where the loan amount exceeds normal lending margins: and/or they are unable to provide adequate servicing ( for non personal borrowers only).

Borrowers may consider adding co-borrowers to their loan application if they do not wish to obtain support from a guarantor.

Note: a personal borrower must be able to service the loan amount based on their income and total repayment commitments. Under no circumstances can a guarantee be taken where the borrower is unable to demonstrate servicing on their own right.



Guarantor Support enable customers ( in particular first home buyers) to:

  • Borrow more funds that they may have been eligible for without a guarantee
  • Purchase the property they want rather than having to settle for a cheaper alternative
  • Enjoy a sense of Independence and financial security having purchased their own property
  • Eliminate the need to pay for Lenders Mortgage Insurance ( LMI) where the guarantee reduces the customers Loan valuation ratio to a level where LMI is not required.



A guarantor must meet the same criteria an an eligible borrower and be related to the borrower in one of the following ways:

  • Immediate family members, which are restricted to: Spouse, Parents/In Laws, Children, Siblings, Legally appointed guardians
  • Company or trust entities where the relationship between the shareholder/director/trustee and the borrower is in line with the above
  • Trust and its directors
  • Company and its directors


 Excluded Guarantors  

The following types of guarantors will not be considered by any funders:

  • Individuals receiving government pension and providing a residential property ( principal place of residence) as supplementary security
  • Individuals who are not related to the borrower as described in the above Eligible guarantors or exceptions below - eg. cousin, friend, boyfriend/girlfriend and neighbour



All applications with the below types of guarantors will be considered on a case-by-case basis:

  • Individuals who are related to the borrower in the following ways: Grandparent, Grandchild, Former Spouse, Aunt or Uncle, Nephew or Niece
  • Company and Trust entities where the relationship between the shareholders/director/trustee and the borrower is in line with the above
  • Individuals who are self-funded retirees
  • Individuals who are self-funded retirees and the security used to support the guarantee is a jointly owned with an eligible borrower.


Guarantors Checklist  

All guarantors must be formally interviewed separately from the borrower/s, in person and must consider the broker must consider the following aspects as part of their interviewing process and to determine if independent legal advise is required.

  1. Does the guarantor understand English?
  2. Can the guarantor understand their role as guarantor?
  3. Have they previously acted as Guarantor and has the Guarantor provided a mortgage?
  4. Does the Guarantor appear to be under duress?  




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