IMB’s Family Guarantee is a way for your family to help you get into your dream home sooner. A family guarantee allows your family to help you purchase a property without actually providing you with a cash gift or cash loan.
Lower deposit required
Avoid or reduce lender's mortgage insurance costs
Choose from any of IMB’s home loans
You may be eligible for a lower interest rate, by lowering your loan-to-property value ratio
You can use a family guarantee to help get your home sooner
A family guarantee allows your family to help you purchase a property without actually providing you with a cash gift or cash loan. Using a family guarantee you could apply for a home loan without a deposit and without paying the lender’s mortgage insurance costs.
For example, if you wanted to purchase a property worth $550k, you could have to save up to $110k to get a 20% deposit. Saving up for a deposit this big could take you years. Instead, your parents could provide a limited guarantee for the required amount against their existing property (or against a Term Deposit that they hold with IMB) so that you don’t have to pay lender’s mortgage insurance or save up for a deposit.
This all helps you get into your home much sooner and can save you money.
Speak with one of our home loan specialists to find out if this might be suitable for you and your family. Click here to make an appointment.
We'll assist you with applying for your first home loan. If you're eligible, you will receive a conditional approval and know how much you can borrow.
Buy your first home with confidence, knowing your loan is conditionally approved and how much you can spend.
Security is a fundamental right for our customers, and we hold it as one of our core values.
General
Information current as at date of appearance and subject to change. Lending criteria, terms and conditions, fees and charges apply. Minimum total loan exposure $75,000.
You should consider the relevant Terms and Conditions or Product Disclosure Statement before deciding whether to acquire any IMB products or facilities. Target Market Determinations available here.
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