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guarantor loans
Guarantor Loans can be a good option if you are starting out as the more you can save the better, however saving for a home deposit while paying other expenses like rent is difficult and it is no mean feat. There are options and there is a way to make it more achievable with a little help from those closest to you. A Guarantor loan allows a family member to act as guarantor to secure your deposit. This allows you to have a bit more borrowing power and can reduce your loan to value ratio (lVR), meaning you may also avoid paying lenders mortgage insurance (LMI) on top of your deposit, this alone can save you thousands of dollars.
Generally lenders mortgage insurance (LMI) is required for home loans where you have less than 20% deposit and the loan is greater than 80% of the property value. Lenders mortgage insurance (LMI) is a type of insurance that lenders take out to cover the risk of high loan to value ratio (LVR). The insurance covers the lender against the risk of you defaulting on your loan, however you pay the premium.
Once you have built up your equity in your property, your guarantor can then ask to be released from the loan.
Don’t forget! We have all the latest calculator tools for you to review and start your investigation and we can also support you by providing loan options that may work better for you based on your story.
We are with you every step of the way from application to approval ensuring the transition is easy.
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Here’s what our clients have to say!
xiuyue LIN2024-09-25Good lending service from Adrian- 10/10 level Thank you for your help to secure my load within 14days. Love your work ethic and work effectively - Linda Lin
Courtney Rowdon2024-08-26Hi Adrian, I wanted to express my gratitude for all your help in securing the right mortgage for me. You made everything so clear and really took the time to ensure I understood how it all applied to my situation. I can't thank you enough! I'll be recommending your services to everyone. Thanks Courtney
Gianni Petrini2024-08-14Adrian was fantastic for me and my wife he explained everything over for us with great patience , I would recommend Adrian to other people ,friend and family with complete confidence ,Thanks again Adrian.
Arnaud Lenferna2024-08-09Adrian helped my mother get a loan to purchase a new property. She is a pensioner and although being advised my many others that it wasn't possible to get her a loan, Adrian went above and beyond and was able to secure a long term mortgage. Couldn't recommend him higher. I also referred her to my sister and his service was impeccable. Thanks for your hard work.
Doug Adams2024-08-01Great experience, and always helpful. Adrian has helped my family over the last few years with refinancing our home loan and finding the best options for our needs going forward. Cheers Doug
craig gibbs2024-07-10Hi , I not long applied for a home loan with the Loan Book and was so impressed by how good this broker by the name of Adrian was, Firstly he really listened to what we wanted and secondly he was very innovative and tried all different avenues to get the home loan across the line as well as keeping me up to date on how the loan application was going. If anyone was looking for a home loan I would really give this man a go and l know you will be super impressed. Yours Truly Craig Gibbs
Robbie & Emma Elso2024-06-03My wife and i were trying to gain finance for her to start a small business, which is always a stressful task to jump through the hoops, but thankfully we were referred to Adrian at The Loan Book. Adrian was the consumate professional and his prowess, knowledge and determination to find us the best possible outcome, (of which there were a few options) took the stress off our shoulders, making the whole process seamless and gave us the result we were after. Adrians kind personality made us feel at ease from the jump and we couldn't recommend him highly enough.
Florise Olivier2024-05-09Adrian has been so thorough through the process, with amazing communication, to ensuring that you knew where things were at and what was next to come. thank you Adrian
Dave Brown2024-05-09Excellent service … clearly demonstrated exceptional professional knowledge base, advice and support through a protracted, complex and challenging process - highly recommend to those who value quality services