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Episode 6 - Guarantors & Guarantees: How these can get you into the property market
Manage episode 423506008 series 3574721
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Episode 6 - Guarantors & Guarantees: How these can get you into the property market
Episode Overview: In this episode, Tiffany and Toby delve into the intricacies of guarantor home loans and genuine savings, exploring how these financial tools can help individuals enter the property market sooner and navigate the complexities of mortgage finance. From understanding the risks and benefits of guarantor arrangements to leveraging rental history as genuine savings, this episode equips listeners with valuable insights into property financing strategies.
Key Points Covered:
- Introduction: Tiffany and Toby introduce the episode and their expertise as property investors, mortgage brokers, and financial educators.
- Understanding Guarantor Home Loans: Explaining how guarantor home loans function as a viable option for individuals with smaller deposits or no deposit at all, bypassing the need for lenders mortgage insurance (LMI).
- Pros and Cons of Guarantor Home Loans: Discussing the benefits of entering the property market sooner and the potential risks involved for both borrowers and guarantors.
- Family Guarantee Home Loans: Exploring specialized loans tailored for family members to act as guarantors, emphasizing the importance of strong relationship links and financial stability.
- Genuine Savings Explained: Breaking down the concept of genuine savings and its significance in demonstrating financial discipline and stability to lenders.
- Using Rental History as Genuine Savings: Highlighting a strategic approach for renters to bolster their home loan applications by showcasing consistent rental payments.
- The Role of Mortgage Brokers: Advocating for the guidance of mortgage brokers in navigating the complexities of home loan options and finding tailored solutions.
- Course Offerings: Promoting established wealth's free courses for first home buyers and mortgage strategy, providing actionable strategies to optimize finances.
Contact Information:
For personalized advice or inquiries, listeners can reach out to Tiffany and Toby.
Website - www.establishwealth.com
Email - toby@establishwealth.com.au & tiffany@establishwealth.com.au
Instagram - Toby_MortgageBroker & Tiffany_MortgageBroker
Download E-Book - https://establishwealth.com.au/ols/products/establish-wealth-e-book
Australian Credit Licence :389087 AFG
ASIC Authorised Credit Repersentive Number: 559315
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