If you are in a position where you are earning a good income
but have not saved enough of a deposit to purchase a property, then a family
guarantee loan could be ideal for you.
The family guarantee, allows you to use an immediate family member’s property as security to cover your deposit amount. This allows you to borrow in your own name the full purchase price of the property plus any costs associated with the purchase. In this instance you are 100% responsible for making repayments on the full loan amount. A family guarantee also removes the requirement of paying an LMI premium, which can save you thousands of dollars.
If you are looking for a head start in life and have family nice enough to help. A family guarantee is probably the best solution for you!
To find out more, talk to Avenyou today.