Hi Otto,
Thanks for the advice so far. The default was for about $4000 with St George. It was a credit card that my partner didn't change address with when we returned from living in the UK and didn't pick it up until a credit file check. It was listed in 2006 and paid off in July last year.
Thanking you,
Michael
Search found 2 matches
- Mon Apr 19, 2010 5:06 pm
- Forum: Home Loan Forum
- Topic: Guarantor Option?
- Replies: 3
- Views: 9664
- Sun Apr 18, 2010 2:53 pm
- Forum: Home Loan Forum
- Topic: Guarantor Option?
- Replies: 3
- Views: 9664
Guarantor Option?
Hi There,
My partner and I are looking to buy our first home, we both earn approx $50k in steady jobs, have been renting the same house for nearly $2000 a month for over 3 years, and have parents willing to be guarantors for us to borrow 100%. We have savings of around $7000, however my partner has a (paid off) credit card default on his credit file with a clearance date in 2012.
Do you think we would get approval for a home loan for around $500k with a guarantor?
Thanking you in advance for your advice.
Michael
My partner and I are looking to buy our first home, we both earn approx $50k in steady jobs, have been renting the same house for nearly $2000 a month for over 3 years, and have parents willing to be guarantors for us to borrow 100%. We have savings of around $7000, however my partner has a (paid off) credit card default on his credit file with a clearance date in 2012.
Do you think we would get approval for a home loan for around $500k with a guarantor?
Thanking you in advance for your advice.
Michael