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Yes but the term guarantor needs to be clearly understood and the suitability of the structure clearly defined before proceeding further.

Parental guarantees are generally only in the form of equity guarantees only and not servicing guarantees. 

Equity Guarantees are the common form of help parents give their children and is formed by ‘pledging’ equity in a property usually the parents owner occupied home or an investment property owned by the parents.

Servicing guarantees are no longer available as it was a form of promise that said Mum and/or Dad will provide personal assurances that they will have enough income to boost the borrowing capacity of their children

The length of time it takes to secure a mortgage loan can vary depending on many factors, such as the complexity of the loan, the lender's processing time, and the borrower's financial situation. On average, it can take anywhere from a few weeks to several months to complete the mortgage process with a broker. At Ezi Finance, we have numbers of application completed and approved 24-48 hours

Offset accounts a just like any ordinary savings account that has a BSB and account number but they are linked electronically to your mortgage account to reduce the interest charged on your loan split. For example you have a $750,000 home loan owing and an offset account with $150,000 balance. The offset account, as the name suggests, reduces the interest charged against the balance owing on your home loan and your balance for interest  charged is reduced to $600,000 only.

Not all offset accounts arr equal. Some a partial offset account which can greatly dilute the benefit of surplus funds you have sitting idle. Fixed loan splits generally cannot have a linked offset account with the exception of a few lenders who allow this to be done during a fixed term.

Generally offset accountswill increase the interest rate charged or fees levied so its important to consider the benifit of having such a feature. Fortunately you can get much the same outcome as an offset account as a

Quite simply you need to be sure that that a refinance is going to save you a meaningful amount of money after any potential refinancing costs.

In a rising rate market more than ever is it important to keep a regular eye on your current interest rate to ensure that it is remaining competitive. .

As a client of Ezi Finance Solutions our systems ensure annual reviews of your structure that ensure your loan remains competitive and we work in the back ground to ensure we needle your current lender to ensure that your interest rate remains as competitive as possible.

Another industry common acronym is a LVR or Loan to valuation ratio. This ratio is an important metric that measures possible risk to a lender based on how equity you have in your property relative to the loan you require. This metric is applied to your home or investment loan the same way 

For example a home loan of $500,000 on a $1,000,000 property has an LVR of 50%. While a home loan of $900,000 on the same $1,000,000 property has an LVR of 90%. Ideally banks and lenders want to see you borrow 80% or less of the value of your property. Borrowing in excess of 80% means you may have to pay mortgage insurance which usually increases the interest rate charged on your loan as well as applying a once off levy knows as lenders mortgage insurance or LMI

This is our specialty! Being self employed and applying for a mortgage has traditionally been difficult with most banks and lenders but fortunately there are many more options available.

Such policies include but are not limited to accepting just 12 months of self employed tax returns to determine loan approval, enabling fast track approvals using only your ATO notice of assessment (no tax returns required), relying on an affordability statement from your account, reviewing your BAS (Business Activity Statements) turnover to see a trend in your high level profitability, accepting tax returns in a draft format that is accompanied by a letter from your accountant, enabling a refinance to take place when a dollar for dollar proposal is being presented. The list of possible supporting document is extensive and varies all of the time so reach out to us today to discuss your proposed scenario today.