- by Doug Daniell
- in Finance Property Investment
- 12/05/2016
We have all seen the headlines of young couples who keep getting beat at auction. To boot, with high rents, they find it hard to save for a deposit.
Some banks offer Parental Guarantees that enable kids to get a foot on the property ladder.
In most instances the kids don’t need to have any savings. And, by using a parental guarantee, they often borrow 100 per cent of the property value, plus any associated costs such as stamp duty.
Interest rates on a parental guarantee loan are at normal residential rates – but they can be complicated to arrange.
If you need assistance, please contact your Chan & Naylor broker.
Doug Daniell
Director, Chan & Naylor Finance
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