Parents Assisted Home Loans

Benefits

  • No LMI fees may apply if parents are gaurantors
  • Still can select from wide range of lenders
  • Slightly Easier approvals as no insurance involved
  • Low-interest rates still apply
  • Parents do not need to be working

Terms And Conditions

  • Parents have to stay guarantors till your loan value is 80% of property value
  • Parents property can be sold prior – you may have to make sure your loan is reduced to 80% of the value of the property
  • Only applicants income is used for servicing of the loan – parents are only there to assist with deposit section and to avoid LMI
  • Other T&C of lender may apply – for full details contact broker

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