Guarantor Loan Document Checklist
Guarantor files need a full document pack for both the borrower and the guarantor. The guarantor documents focus on their property equity, income, and legal capacity to provide the guarantee.
Documents to collect
Borrower income documents (payslips, tax returns)
Verify the borrower income independently as per a standard application.
Read the full guide →Borrower bank statements (3 months)
Standard bank statement review for the borrower.
Read the full guide →Guarantor most recent home loan statement
Extract the guarantor current loan balance, rate, and available equity.
Read the full guide →Guarantor income evidence (payslips, pension statements, or tax returns)
Confirm the guarantor is not relying solely on pension income if the lender policy restricts this.
Guarantor credit report
Some lenders require a credit check on the guarantor. Confirm the guarantor has no material defaults or adverse listings.
Read the full guide →Primary and secondary photo ID for both borrower and guarantor
Confirm all names match across both parties and meet the target lender VOI requirements.
Read the full guide →Confirmation of independent legal advice for the guarantor
The guarantor must receive independent legal advice before signing. Confirm this has been arranged.
Tips
- ✓Structure the guarantee amount to the minimum needed to bring the borrower LVR below the LMI threshold
- ✓Plan the guarantee release path from the start and set expectations with the guarantor
- ✓Confirm the guarantor is immediate family as most lenders restrict guarantees to parents, siblings, grandparents, or other close family members
How QualifyMate helps
QualifyMate handles multi applicant files with name reconciliation, grouping the borrower and guarantor documents separately so brokers can assess each position clearly.
Try QualifyMate free →Ready to assess faster?
Assess documents for mortgages in minutes, not hours.