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  • Genuine SavingsMoney you have saved yourself over time, typically at least three months. Lenders use this to assess your ability to manage money and make regular payments. Gifts, windfalls, and tax refunds usually do not count as genuine savings.
  • Gift LetterA signed letter or statutory declaration from a family member confirming that money provided for a property purchase is a gift, not a loan, and is not expected to be repaid. Lenders require this before they will treat the funds as part of your deposit.
  • Government GuaranteeA commitment by the government to cover part of the lender's loss if you default on your home loan. It protects the bank, not you. You still owe the full loan and are responsible for every repayment.
  • Gross rental yieldAnnual rental income divided by the property's purchase price, expressed as a percentage. Used by investors to compare the income return of different properties. A property renting for $500 per week ($26,000 per year) bought for $650,000 has a gross yield of 4.0%.
  • GuarantorA person, usually a parent, who offers equity in their own property as security for your home loan. The guarantor does not give you cash. They allow their home to be used as collateral, which can reduce or eliminate the need for a deposit and avoid lenders mortgage insurance.
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