A guarantor is someone’s back-up when it comes to things like a mortgage, car loan or signing a credit contract. Both of them had gotten jobs straight after high school - Aroha worked at a bank, where she found herself learning about budgeting and banking. “I already knew about the process [for buying a house] and I knew I needed a guarantor. (Source: Supplied)Their pre-approval - an acknowledgement from the bank that you can borrow a certain amount for a house - was approved soon after. ADVERTISEMENTIt was through Whitney’s job at a bank that she knew what processes she could take when it came to buying a house.

Source: Stuff April 28, 2022 17:28 UTC