Financial Advice for Guarantors

Service Description

Have you been asked to seek independent financial advice before a bank will approve a home loan? Andep is one of Perth’s few independent financial planning companies and is able to provide independent advice to loan guarantors. Andep has its own Australian Financial Services License (AFSL) and is not linked through licensing or ownership with any bank or other financial institution. Occasionally lenders will specifically ask prospective borrowers and/or their loan guarantors to obtain independent financial advice before the lender will approve the loan. Andep is able to provide this and if at the conclusion of our meeting we believe the client is accurately informed on the loan details, the risks involved and their financial obligations then we can sign the lender’s required documents. Alternatively we can prepare our own letter if no standard format is given by the lender. Lenders will often not mandate that a borrower or guarantor seek financial advice prior to entering a borrowing agreement but it may still be prudent to seek advice before doing so. There are a number of risks involved when guaranteeing a loan on someone else’s behalf and it is important to be as informed as possible. If you have any concerns regarding your existing or prospective borrowing arrangements please do not hesitate to contact us for independent, non bank financial advice.