Help with guarantor loan
Help with guarantor loan
I want a family guarantee loan but CBA has declined my loan because my parents are too old and are on the pension. Can I get a loan with another lender? Who can help?
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
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Re: Help with guarantor loan
Yes it is possible to get a home loan supported by a guarantee from an elderly guarantor. Many lenders will not approve loans that could put the guarantor at risk of losing their home if the repayments were not made. Home loans with a pensioner going guarantor are possible if you meet other standard bank lending criteria.