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Thanks all. Based on the answers I may bypass a guarantor home loan and go for a normal mortgage using our savings. It seems like the real benefit of a guarantor home loan would be reaped if we didn't have much savings to start off.

Thanks Jess. We're not looking to purchase immediately but I've started on my due diligence so when the time comes around I'll have a fair idea of various aspects of the purchase.

Thanks for the quick reply Rolf! The guarantor would be my wife's parents. From my understanding they have paid off most of the mortgage on their home which is their PPOR. They are still working but looking to retire in 5-10 years. What do you mean by capacity and smarts of the guarantor...

I have a general understanding of guarantor home loans and its requirements from what I've read online. One of the advantages that I've read is that you can possibly get better rates via one. If that's true would it make sense to make a property purchase (PPOR) even if I could afford the 20%...