Too much existing debt to complete on a presale — moving the purchase to the next generation, $300K approved

A local resident had bought a presale years earlier at the top of the market, intending to hold it as a long-term family asset. As completion approached, the problem was his own balance sheet: several existing loans had pushed his overall debt ratio high enough that, steady income or not, he could not carry the new mortgage. Bank after bank declined on debt load. Years of waiting looked like they were about to come to nothing.

A friend introduced him to Guaranti. Our assessment was blunt: with him as the applicant, the odds were poor. But looking at the wider family picture, his child had been working for two years — overseas, but with stable income, clean credit and no debt at all. The client was also willing to gift $150,000 toward the down payment.

We proposed restructuring the purchase: transfer the presale to the child, put the child forward as the applicant, and shortlist lenders that would recognise both overseas income and a parental down-payment gift. Once the paperwork was assembled the team submitted and worked the file through. $300,000 was approved, the completion went ahead on time, and the property stayed in the family — the asset plan intact.