What are Family Guarantee loans? Family Guarantee loans allow a Guarantor – typically an immediate family member such as a parent – to use the equity they have in their own home as additional security for the purchase of a new property by another family member (typically the adult child of the Guarantor).
This course examines how Family Guarantee loans work, how they are structured and assessed and includes legal requirements and considerations.
On completion of this course, participants should be able to:
- Outline what Family Guarantee loans are and the borrower circumstances they best suit
- Describe the target market, main parties and key characteristics of Family Guarantee loans
- Make basic calculations related to setting up and assessing common Family Guarantee loan structures
- Discuss legal requirements and conduct considerations relevant to Family Guarantee loans
- Identify occasions that trigger a Guarantor’s release from their obligations.
Since you’re here, you’re welcome to check out our Australian Credit Licence courses.