How to add guarantors in deal and how they affect servicing, buffers and document production

Zac Munjiza avatar
Written by Zac Munjiza
Updated over a week ago

General Info

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

Please first add the clients(s) to the deal then the guarantor(s). This order is important as it impacts certain key functions in 'Broker Tools' (calculators, product search...).

In order to add security or servicing guarantors in your deal, you can use the '+person' icon in 'Deal View' or add them from Pen icon > Edit Deal page.

If you are creating a new contact, enter their details there in the deal edit page.

In case you want to add existing clients, search their name from the "First name" field and pick from drop down results.

Lastly, click the β€˜Save’ button.

From 'Edit Deal' example:

From 'Deal View' example:

Guarantors will show up in broker tools where you will be able to complete their 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 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 (the options will be located under the "Standard documents" list in "Create documents" window):

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