Congratulations! Your latest valuation shows that your guarantor is ready to be removed!
The process now is either:
– you can contact the bank directly and complete a discharge form, send it on to us completed and we will forward to the bank with the valuation showing that the guarantor can be removed (there is no cost for this option, but we do not follow up the guarantor removal from there)
– we can follow up and provide updates with the bank (we do charge a $150 fee to handle this ongoing contact with the bank)
Please note with either option there are costs involved as mentioned up front with your guarantor loan (loan discharge costs / bank fees). Please also note that removal of guarantor is also not swift either way! Typically banks take 4 – 12 weeks to process removal of guarantor.
We do very strongly recommend that you go ahead and have your guarantors title released from your mortgage and their obligation to your loan as soon as possible.
Please select which option you would like from the dropdown menu below: