Secure Start
Backed by family. Built for your future.
Secure Start
Backed by family. Built for your future.
Stay strong. Stay secure.
Step into the market sooner with Summerland Bank’s Secure Start. With the help of a family guarantor, you can skip the 20% deposit and avoid Lenders Mortgage Insurance, saving time and costs in today’s high cost-of-living. It’s how family support can help turn homeownership into reality.
Introducing Secure Start
Secure Start is our family guarantor solution designed to help first home buyers enter the property market with confidence. By connecting eligible buyers with a family guarantor, we help remove common financial barriers and we will provide step-by-step guidance throughout the process.
What is a guarantor?
A guarantor uses part of their home’s equity to help secure your loan. This means you can buy with a smaller deposit and avoid Lenders Mortgage Insurance (LMI). It’s a great way to fast-track your homeownership journey, but it’s important to understand the risks if the loan isn’t repaid. We’re here to support and provide guidance for both you and your guarantor.
Who can be a guarantor?
Guarantors using Secure Start must be close family members. They must own property in Australia and meet certain eligibility criteria. They don’t need to give you money, they’re simply providing a security guarantee to help get you started.
Secure start made simple
Turn your homeownership dream into reality with the power of trusted support by your side.
Secure Start helps first home buyers by connecting them with a trusted Guarantor, often family members who use the equity in their own home to secure part of the loan. This extra support can strengthen your application, remove the need for a deposit, and help you avoid Lenders Mortgage Insurance (LMI), making homeownership more accessible, and achievable sooner.
- A guarantor (usually a parent) offers part of their property as security.
- You borrow up to 100% of the purchase price (plus costs).
- Once your loan balance reduces or your property increases in value, the guarantor can be released. Subject to assessment disclosure.
Example scenario
Jackie is looking to buy her first home - $600,000 unit.
She has $35,000 in savings and needs around $5,000 for purchase costs.*
That brings the total amount required to $605,000
With a loan amount of $570,000, her Loan to Valuation Ratio (LVR) is 95%
So how does Secure Start help Jackie make it happen?
Jackie's Home
$600,000 Property Value
Available equity $480,000
$480,000
Equity used
Available equity is calculated
at 80% of the property value
Her Parents Home
$1,000,000 Property Value
Available equity $800,000
$90,000
Equity used as a Guarantee
Loan amount of $570,000, leaving parental equity guarantee of $90,000
Benefits
Get into the market sooner
Buy your home without needing a full deposit
Save potentially thousands by avoiding LMI.
Considerations
The guarantor is responsible if the borrower can’t repay
It could impact your credit score and future borrowing ability
Always seek independent legal and financial advice before agreeing to be a guarantor
Benefits for first home buyers
Smaller deposit requirement
With a guarantor, you may not need the full 20% deposit – helping you get into your home sooner.
Avoid Lenders Mortgage Insurance (LMI)
Save thousands upfront and buy sooner with a smaller deposit.
Confidence in your decisions
Know you’re not making choices alone. Your guarantor has your back.
Increased loan accessibility
Boost your borrowing power, even if your income or savings are limited.
Faster entry into the market
Skip years of saving and take advantage of property opportunities now.
Trusted support throughout
Have someone backing your journey emotionally and financially, as you take this big step.
Benefits for support guarantors
Empower someone you care about
Support a loved one build a secure future through homeownership.
No immediate out-of-pocket costs
You’re offering security, not handing over money (unless the borrower is unable to repay).
Structured, safe framework
Feel confident knowing you’re part of a regulated, transparent process.
Flexible involvement
Choose how much of the loan you guarantee – just a portion is often enough.
Clear exit path
Guarantor obligations often end once the loan reaches 80% of the home’s value.
Access to expert advice
Secure Start ensures you’re informed and supported every step of the way.
Got questions? We've got answers
How much can I borrow through Secure Start?
Your borrowing capacity will depend on factors like your income, debts, credit history, and the type of guarantor support you have. With Secure Start, you may be able to borrow up to the full purchase price of the property – including associated purchase costs. (Subject to credit criteria).
Do I still need a deposit if I have a guarantor?
No, with Secure Start, you can borrow up to the full purchase price of the property including purchase costs. However, if you do have savings, using them towards the purchase can bring your overall costs down by reducing the loan amount, repayments and interest over time.
When can the guarantor’s security be released?
Guarantor support usually ends once the borrower has repaid enough of the loan (often when the loan-to-value ratio reaches 80%). You can request a formal review at that point, and if approved, the guarantor’s security is released. Subject to assessment disclosure.
Is the guarantor responsible for the whole loan?
Guarantees can be limited, often to around 20% of the loan at the outset. It’s a way to help without taking on full responsibility.
Can the guarantor be removed early?
Yes, if you refinance or build enough equity sooner than expected, the guarantor may be released early, subject to lender approval.
Can I use Secure Start if I’m self-employed or a casual worker?
Yes! Secure Start supports a variety of employment types, including self-employed and casual workers.
The legal stuff
*All purchase costs provided are estimates only and subject to change.
Guarantor/s should consider the risks associated with becoming a guarantor, including that they may be liable to repay the loan if the borrower/s defaults. Guarantors are required to seek independent legal advice before providing a guarantee. Guarantee may be provided by close family members only. Offer may be varied or withdrawn at any time.
Rates are subject to change. Conditions, fees, and eligibility criteria may apply, see us for details. Terms and Conditions available upon request. Target market determination available on request at our branches. This is general advice only and may not be right for you. Please read the Credit Guide before making decisions.
Take the first step with Secure Start today
Whether you’re ready to apply or just exploring your options, our lending specialists are here to help. Let’s turn the “someday” into settled in.
Ready to get started?
If you’re ready for a braver kind of banking, here are three ways to get started with Summerland Bank.
Apply online
Get started online with your ID at the ready and a quick check of your personal details.
Contact us
Good old-fashioned customer service, the Summerland way.
Visit a branch
Find your closest Summerland Bank branch and our friendly local team will be ready to help.
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