Can I remove a guarantor from my loan?

Can I remove a guarantor from my loan?

Yes John, you can remove your guarantor at this stage. Looking at the increase in value that you have mentioned, it shouldn’t be a difficult ask as you could easily remove a guarantor once the loan amount is less than 80% of the property value.

Can a guarantor mortgage be used as a buy to let?

The guarantor mortgage is exclusively for buyers intending to live in the property themselves; a guarantor mortgage can’t be used as a buy to let mortgage. Is a guarantor mortgage the same as a 100% mortgage?

When should I remove the guarantee on my mortgage?

The ideal time to remove the guarantee is when you owe less than 80% of the value of your property. You can potentially save thousands by avoiding LMI. You may qualify for a lower interest rate. It’s a more straight-forward process with less paperwork. We usually only recommend that you remove the guarantee earlier if there’s a need to do so.

Can I refinance my Guarantor home loan?

We can refinance your guarantor home loan to have you as the sole owner of your property and borrower on your home loan. You can refinance your existing guarantee with a new guarantee as well.