AAA Mortgage Solutions

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.

  • Avoid paying lender’s mortgage insurance and maximise the amount you can borrow.
  • 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.

Are you considering a pledge loan? We can help you with your decision, and with finding the right loan. Get in touch with us to get your questions answered.

As it becomes harder for first home buyers to get a foot on the property ladder, a family member can help them out with a pledge loan. No cash will leave your family member’s hands – they just have to be willing to secure your loan with the equity in their home.

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.

The Benefits

  • 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.

Stay Informed

We place huge emphasis on educating our clients, so that they can be personally confident in their decision. Let us keep you updated with the latest information so you can reach your goals faster.

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We’re here to answer any questions you have. Give us a call, or book a free appointment with one of our friendly, experienced brokers.

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