Did you know that technically you can buy a property with no deposit if you use a Guarantor Loan?? Having a Guarantor Loan means that you can buy a home with less than a 20% deposit (technically zero deposit) and not pay lenders mortgage insurance (LMI), but there are risks involved - so you need to make sure you understand all of the pros and cons.
Mortgage broker Evelyn Clark takes us through the ins and outs of Guarantor Loans. We explore how they work, who can be your guarantor, why you might want to consider this type of loan, how it impacts your guarantor and the risks involved and how long until you can ‘release’ your guarantor. And, importantly, how you can start having a discussion with your parents about potentially being your guarantor.
Do you have a burning property question you’d like answered on the show? Connect with us on instagram @thebuyersbible, we’d love to hear from you with questions, thoughts and feedback. Don’t forget to head to our website www.thebuyersbible.com.au
for our show notes, and to download your free first home buyer checklist.
Information provided in our podcast is general in nature and does not constitute financial advice. Every effort has been made to ensure the information is accurate, listeners must not rely on this information to make investment or financial decisions.
Theme music: Lioness (Instrumental) by DayFox https://soundcloud.com/dayfox
Free Download / Stream: https://bit.ly/lioness-instrumental