All Topics / Help Needed! / Savings or guarantor

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  • Profile photo of lucylucy
    Participant
    @lucyoung1hotmail-com
    Join Date: 2017
    Post Count: 2
    September 16, 2017 - 4:03 pm

    I’m wanting to start investing and have minimal savings. I have the option to use a family member as a guarantor but am not sure whether its smart to do so or whether I should keep saving for a while and then start. I’m only looking to spend about $150,000 or less on a house.

    Any help would be appreciated!

    Thanks

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    September 16, 2017 - 4:17 pm

    It might be smart for you to uses them as you could borrow 104% potentially.
    Whether it is smart for them is another question.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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