Guarantors

Background 

Types of Guarantors in Salestrekker

• Security Guarantors - typically used where property guarantee is required (e.g. Parent guarantee, Commercial asset finance deal)
• Servicing Guarantors - typically used to fulfil maximum borrowing policy

Typical application

• Parent guarantee
• Company/Trust applications
• SMSF applications
• Commercial asset finance

Adding Guarantors to a Deal

In order to add security/servicing guarantors in your deal, go through following steps: 

Open ‘Edit Deal’ option and click ‘Add Contact’ 

Choose your desired type from drop down menu, and scroll down to the bottom of the page and click ‘Save’ button.

Guarantors will show up in broker tools where you will be able to add details.

Impact of Guarantors on Deal Structure

Servicing guarantors will have similar impact to the deal as typical borrowers (Clients in Salestrekker).  They will impact maximum borrowing and monthly financial position.

Security guarantors are treated as a silent party to a deal. Their Assets and Liabilities are important, however their income, expenses, loan repayments will not impact maximum borrowing or monthly financial position.

Example: Security guarantor monthly financial position

Example: Servicing guarantor monthly financial position, identical scenario

Producing Documents for Guarantor Deals

Users can now produce documents from a single template:

• Separately for Clients and Guarantors;
• Jointly for all parties to a deal

Note that in majority of cases documents need to be produced separately to ensure privacy principles are adhered to. The only scenario where document can be the same for both parties (clients and guarantors on the same document) is in Company applications where company directors are guarantors as well.

To produce documents, follow the same process as for any other document, with the addition of choice to select who are documents produced for: