Your parents or immediate family members can help you if your financial situation does not appear secure enough for the lender.
Acting as a security guarantor means they mortgage their property as additional security for your home loan.
Having a guarantor may allow you to borrow more money or possibly avoid paying Lenders Mortgage Insurance all together.
There are important considerations for both borrower and guarantor when considering a Family Guarantee. We encourage both parties to obtain independent financial and legal advice when considering this as an option.