Re: Potential credit bottlenecks that I need to be aware of as a guarantor
Posted: Mon May 06, 2019 12:24 pm
Hello Richard. Welcome to the forums.
First, there are only two or three Australian lenders who will accept a no deposit investment loan supported by a guarantor. We can assist you to buy one investment property, however, buying multiple investment properties is usually not accepted as the guarantor is taking an unnecessarily high risk for no return whereas the borrower is making all the potential profit.
Second, the serviceability looks very tight. Even though you’re acting as the guarantor, she would still need to be able to make regular repayments on her loan without significant hardship. Using the information you’ve provided, by choosing the right lender and amending your loan structure she could borrow up to $687,860. This estimate was arrived at using our borrowing power calculator which uses a similar method to that of lenders, however, we would need to conduct a more detailed analysis to get an accurate figure.
We specialise in guarantor home loans and investment loans.
Give us a call on 1300 889 743 or fill in our free assessment form to find out if you qualify for a guarantor investment loan.
Cheers,
First, there are only two or three Australian lenders who will accept a no deposit investment loan supported by a guarantor. We can assist you to buy one investment property, however, buying multiple investment properties is usually not accepted as the guarantor is taking an unnecessarily high risk for no return whereas the borrower is making all the potential profit.
Second, the serviceability looks very tight. Even though you’re acting as the guarantor, she would still need to be able to make regular repayments on her loan without significant hardship. Using the information you’ve provided, by choosing the right lender and amending your loan structure she could borrow up to $687,860. This estimate was arrived at using our borrowing power calculator which uses a similar method to that of lenders, however, we would need to conduct a more detailed analysis to get an accurate figure.
We specialise in guarantor home loans and investment loans.
Give us a call on 1300 889 743 or fill in our free assessment form to find out if you qualify for a guarantor investment loan.
Cheers,