Margin Loans Margin loans - security and guarantors

Im thinking about getting a margin loan in a new family trust

Trustee- is a company
The shares itself will be security

Do I need to give a personal guarantee - in my own name
and a Directors guarantee - director of the company

If my mum was the director of the family trust
I dont want her as guarantor
Will margin loans insist on the directors guarantee?

dkmc

 

Thanks sim

Its rather tedious searching
Can anyone name one that doesnt, or has experienced this, and have not needed a directors guarantee

 

Neither BT nor commsec do in my experience.

cheers
N

 

Nigel
Looks like BT does require director guarantee
http://www.bt.com.au/downloads/forms/btml_app_form.pdf
see applicaion form - section 1D needs to be filled in

 

Must have changed since my company trustee went through the process because I did not give one...

Directors guarantees are bad for your wealth!

 

So far BT, ANZ, leveraged equities, and comsec require a directors guarantee
Havent found one that doesnt yet

 

Wow thanks sim

I just checked St Georges application form and terms and conditions

This is a big plus for St George vs the rest
that not many people think about

In fact I see no mention of any guarantee - personal or director

Ive gone thru the process of trying to release equity -without director guarantee - run into brick walls every where

This is a big piece of the asset protection puzzle for me
Ive emailed them just to double check

thanks again

 

Im trying to figure out whether they have just worded guarantor in a different way in their T+C
what happens if you default??
who do they go after - if there is no director guarantor
or personal guarantor