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Why opt for a mortgage with Guardian Group?
In preparing a mortgage proposal, your personal situation and wishes are the focus at Guardian Group. Moreover, your mortgage will be structured to ensure there’s enough money left after commitments to live life as you want to. A Guardian Group mortgage is built up as follows:
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Up to 100% financing of the purchase price
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Limit on loan servicing: 30% of disposable income
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Maximum loan term: 35 years
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Mortgage interest rates from 4.75%
What type of mortgage suits me best?
Guardian Group offers two types of mortgages: the annuity loan, and the endowment mortgage. The difference lies in the way the loan is paid off. We recommend you seek advice from our experts or your broker to decide which mortgage structure suits you best.
Annuity mortgage
With an annuity mortgage the principal (the amount you borrow) is paid off over the full loan term. Provided the mortgage interest rate does not change, you will pay a fixed amount each month that is part interest, part repayment. In the first few years the bulk of your monthly commitment consists of interest. As you begin repaying your home loan, the interest part of your monthly commitment gradually decreases, and the repayments increase.
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Gross monthly amount the same over fixed-interest period
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Mortgage fully paid off at end of term
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Interest payments decrease while repayments increase over loan term
Endowment mortgage
An endowment mortgage is an attractive option for individuals or families on higher incomes. No debt is paid off at any time during the term of an endowment mortgage, only interest. As a result, you benefit from the maximum interest relief (income tax deduction) over the full loan term. You also take out life insurance. If you die before the end of the loan term, your life insurance pays off your mortgage debt.
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Gross monthly amount the same over fixed-interest period
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Mortgage paid off in full at end of loan term
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Maximum interest relief (income tax deduction) over full loan term
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Especially interesting for individuals or families on high incomes