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What is eligible for the guarantor to use as security?

Each lender is different, and their risk appetites will vary. Some will not accept owner-occupied property as security and will only accept security over property that is not the guarantor’s principal place of residence.
Listed below are the most common forms of security:

  • Property. Principal place of residence (an owner-occupied home).
  • Property. Not the principal place of residence, this could be an investment property or a holiday home.
  • Term Deposit. This is a less common option but may be used when the guarantor has sufficient funds in a term deposit held with the lending institution to utilise as the guarantee in lieu of providing security over property.

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Legal information about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

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At Tiimely Home we are not financial advisers and recommend seeking independent financial and legal advice to check how the information we provide aligns with your individual circumstances.