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Santino

5 months ago

Hi Ricki, yes we all have access to St George guarantor Loan facility. If your friend borrowing power is $300k and has $100k deposit and the purchase price is $450k then you have a $50k shortfall in funds to complete your purchase. You cannot borrow additional $50k if your friend cannot service this additional debt. Maybe a non refundable gift from family may assist. Good luck.

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ricki

5 months ago

Somebody out there has access to st. George bank... 3.68% guarantor procedure... his borrowing power is 300k.. on 50k... if he has 100k saved... that means 400k he can use on property purchase. However... he needs the extra 50k somewhere... i suggested 50k frm parents house. As gurantor/equity..

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Glenn

5 months ago

Hi Ricki, To look at the whole picture as suggested, get in touch through my profile and I can look further into the scenario and overall picture instead of asking or being drip Fed answers and backwards or forwarding with questions? I can provide a customer information form to be completed and supporting documents requested to assess the whole picture to provide options or possibilities? Using $100K towards the transaction would reduce the loan needed, providing full income and expenses would enable myself to provide a borrowing capacity for your friend? If you wish to help your friend further just get in contact through my profile link or your friend? I also live close to the postcode on your information so I could meet in person to assist and there is no charge for the service I provide? Regards Glenn

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Junmin (Eric)

5 months ago

hi Ricki there are 2 types of guarrantees, for deposit or for servicing. sounds like your friend does not need deposit ( parental guarantee), rather he needs servicing guarantee, which majority of lenders not allow that. if he does overtime, and has income over $50k pa, there might be opportunities.

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ricki

5 months ago

and getting 3.68% from St George bank... guarantor procedure

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ricki

5 months ago

Yess... he does do overtime.. but if the property that he wants to purchase is $450k.. and want to use parents house for guarantor/assett.... surely there is a way. I know that base on his income, its impossible... but his saved $100k in the bank. Surely a low interest rate can help him out. I have another friend who bought a house for $650k brand new without any cash deposit. But he used his parents house as a guarantor.

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Junmin (Eric)

5 months ago

Hi Ricki there are many options there for rate under 4% PI. the main thing is your friend's income. does he earn overtime, bonus...?

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Junmin (Eric)

5 months ago

hi Ricki there are lots of main lenders off under 4% interest rate, does your friend have overtime, bonus ....? with his income, if no other liabilities, he maybe able to borrow to purchase.

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Milan

5 months ago

Hi Ricki, Hope you're well and true friend you are on helping your mate! Unfortunately this may not be possible. With that income none will be able to help unless there is other sources of income. Happy to help further if more detail required and if there is any other source of income involved. Best, Milan

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Chay

5 months ago

Evening Ricki, there are some options within these parameters. Circumstances do beg further questions in order to give a comprehensive yes to the given scenario. So do contact me for further consideration. All the best

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Glenn

5 months ago

Hi Ricki, This can be done easily if your friend can provide more information on their overall situation? Rates can be discussed and lenders/ products if you get in contact through my broker profile. I have access to over 40 lenders and family guarantee loans are easily accessible. I look forward to hearing from you or your friend? Kindest regards Glenn

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Peter

5 months ago

Hi Ricki, I might be able to help your friend. Please contact me through my profile in HashChing. Regards...Peter Ly

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