Hi Everyone,
I am posting this thread to help a friend out with a dilemma she now has.
She is married with One kid and the lucky couple would like to buy their first home
She works part time earning about $400 a week and He earns about $800 a week Net.
They have found the area they want to buy in but can not get a Mortgage without a guarantor. Her parents and His parents do not want to go guarantor because "What if you get divorced?". The young couple are very happy and have a bright future.
The questions she would like to know the answers to are :
1. Can a guarantor be found other than family and friends?
2. If a guarantor can not be found, is a bigger deposit needed?
3. What are the pros and cons of BEING a guarantor?
4. Any other help or advice appreciated....
Thanks for taking the time to read this thread.
Cheers
Mick
I am posting this thread to help a friend out with a dilemma she now has.
She is married with One kid and the lucky couple would like to buy their first home
She works part time earning about $400 a week and He earns about $800 a week Net.
They have found the area they want to buy in but can not get a Mortgage without a guarantor. Her parents and His parents do not want to go guarantor because "What if you get divorced?". The young couple are very happy and have a bright future.
The questions she would like to know the answers to are :
1. Can a guarantor be found other than family and friends?
2. If a guarantor can not be found, is a bigger deposit needed?
3. What are the pros and cons of BEING a guarantor?
4. Any other help or advice appreciated....
Thanks for taking the time to read this thread.
Cheers
Mick