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Family Guarantee Loan

Family Pledge or Guarantee is a home buying solution unlike any other. It's a range of financing options that can help customers secure a home loan, repay a home loan or a combination of both. The central idea is that both borrowers and their families help secure and fund the loan and/or repayments, together.

Family Pledge is available to assist first home buyers or investors to enter the property market.

  • Guarantors providing security and support
  • Guarantors providing servicing support; and
  • Guarantors providing security and servicing support
Benefits

Family Pledge enables customers (in particular first home buyers) to:

  • Borrow more funds that they may have been eligible for.
  • Purchase the property they want rather than having to settle for a cheaper alternative.
  • Enjoy a sense of independence and financial security having purchased their own property.
  • Family member can assist without necessarily taking on extra financial commitments (eg in the case of security support only).

Applicant type

Individuals.

Employment requirements

P.A.Y.G. must be full-time or part-time permanent. If Self-Employed, two years.

Income: required proofs

P.A.Y.G. Pay slips, group certificates or employer letter. Self-employed, two years tax returns. (No Low Doc)

Loan amounts minimum & maximum

$100k to no limit

Purpose

Owner-Occupied, or Investment
Purchase

LVR

Up to 80% Loan for Purchaser
Up to 20% + Costs Guarantor

Coded, non-coded, or either

coded

Credit related issues

CLEAR

Variable, fixed or both

Both

P&I, I/O, or both

Both (depending on LVR)

Residency Status

Citizens and permanent residents

Comments, special conditions

 

Security Support Only

There is no restriction on the relationship between the borrowers and guarantors

Servicing Support Only

There is no restriction on the relationship between the borrowers and guarantors except where the reliance on the guarantor for servicing is >50%, or in the case of expanded purposes, where the guarantor is restricted to immediate family. 

Security and Servicing Support

Guarantors are restricted to immediate family*
 

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Important Information:
Some email filters will send form confirmation links directly to your junk mail box. If you can not find a reply confirmation in your inbox please check in your junk mail.
  If you wish to proceed, then we will help you to complete all the necessary paperwork and liaise with the lender on your behalf. This will include the completion and submission of your home loan application and the on-going communication between all parties until your home purchase is settled