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Family guarantee & pledge loans
Are you a first home buyer?
A family guarantee home loan or pledge loan will help you get into your new home sooner.
This type of loan uses the equity in a family member’s property to secure your mortgage.
Family guarantors are usually parents, parents-in-law or stepparents, but siblings and grandparents may also be considered.
We’re here to explain the details of a family guarantee loan and help you decide if it suits your situation.
We can help you with your decision, and with finding the right loan.
Get in touch with us to get your questions answered.
How much will a family pledge loan help?
Depending how much your family member is willing to guarantee to your lender, a family pledge loan can allow you to borrow up to the full purchase price of your new home. It can also cover costs associated with moving in, such as stamp duty and legal fees.
- You won’t need to spend as much time saving for a deposit.
- You won’t need to pay lender’s mortgage insurance (usually compulsory if you borrow 80% or more of the purchase price).
- Some loans will let you use the funds to pay for other outstanding debts not associated with purchasing a home.
Learn more about family guarantee and pledge loans
We place huge emphasis on educating our clients, so that they can be personally confident in their decision.
Below are some of our most useful resources to help get you into your first home.