Hi everyone
So, I'm still waiting on my tax return to see what sort of loan I can secure. But I already know it's going to be pretty lousy.
I've had a few people ask me about using a Guarantor to secure a larger loan. I just wanted to get a few opinions from some more experienced investors. I'm not sure I would feel comfortable using my parents property as collateral though.
What are the pros and cons?
What are the chances of something going bad?
I just really wouldn't want anything to back-fire and have my parents in a bad situation.
Is it true I can borrow 100% using a guarantor?
Can I still get an interest only loan and offset account?
That sounds tempting because I could save the deposit money in the offset account to immediately reduce interest repayments, right?
Thanks for any help!
Appreciate it.
So, I'm still waiting on my tax return to see what sort of loan I can secure. But I already know it's going to be pretty lousy.
I've had a few people ask me about using a Guarantor to secure a larger loan. I just wanted to get a few opinions from some more experienced investors. I'm not sure I would feel comfortable using my parents property as collateral though.
What are the pros and cons?
What are the chances of something going bad?
I just really wouldn't want anything to back-fire and have my parents in a bad situation.
Is it true I can borrow 100% using a guarantor?
Can I still get an interest only loan and offset account?
That sounds tempting because I could save the deposit money in the offset account to immediately reduce interest repayments, right?
Thanks for any help!
Appreciate it.