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Struggling to save a deposit? With a guarantor loan you may be able to borrow up to 105% of your property’s purchase price.

What is a guarantor loan?

Many lenders allow a family member to help you to buy your own home by providing additional security. The person providing this assistance is known as a guarantor.

A guarantor allows the equity in his or her own property to be used as additional security for your loan.

Guarantors are generally limited to spouses or immediate family members. To use a guarantor, you must be able to service the entire loan on your income.

Also, a guarantor does not need to secure the entire loan. Some lenders will allow a limited guarantee. This means the guarantor only needs to secure a part of the loan, rather than the entire amount. This will benefit the guarantor from unnecessary risks, as they won’t be liable for the entire loan.

How to get started?

Without a doubt, the best way to find the home loan solution that is right for you is to talk with Stephen (Senior Broker) at Shore Financial. In a free, confidential consultation he can help you find a solution that is best fitted to your unique circumstance.


If you decide a guarantor home loan is something you’d like to explore, you can start the conversation with your family member. We always recommend that anyone considering being a guarantor for a property loan should seek independent legal and financial advice before accepting the role. And remember, if a Guarantor Loan isn’t for you, there are still plenty of other options to consider. Learn more about low deposit home loans.

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