So the kids get into the property market and the parents have helped make that happen, that’s great but Family Equity does more!
If they wish, parents can benefit from any increase in the value in the kid’s property. They can also, if they choose, get interest paid on their contribution. It’s up to the family to decide.
Basically everyone wins!
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Family Equity is totally different to the traditional ways of helping your kids into their first property.
Parents don’t have to go guarantor, which has hidden financial risks. And you’re not gifting the money either, you’re making a contribution that is backed by our exclusive legal agreement and registered with the State Government, giving you protection not available with gifts, loans or guarantee arrangements.
But here’s the big difference – you can benefit financially by helping without the kids being disadvantaged!
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It’s also different because no one has the upper hand, every one enters into a Family Equity Agreement as equals.
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In the case study below we can see that a home buyer with a $75,000 deposit trying to buy a $500k property can eliminate Lenders Mortgage Insurance and also reduce the monthly loan repayments on their home loan with the help of a Family Equity contribution.
^ Interest is only payable if an interest payment option is agreed by parents and children. Assumes an applied interest rate of 2% above an RBA Cash Rate of 2%, annualised and paid in equal monthly instalments.
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Contact us today to get a tailored Family Equity Scenario
Every family is different so Family Equity is flexible. You might be property savvy and like the idea of including our new approach into what you’ve already got planned. Or you may only have got as far as thinking ‘it would be great if mum and dad can help out but we really don’t know how to go about it’.
We can help you set up your agreements, arrange finance for the kids, and work out all the other financial aspects of your situation. Consider us your very own project managers, just give us a call we’re here to discuss what you need.
Download our information pack or get in touch by email. Our pack answers all the questions that need answering to get the ball rolling and if you need help. That’s what we’re here for.
Ask us for a scenario if you want to see how Family Equity can get you into the property market or save you Lenders Mortgage Insurance.
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Family Equity agreements are legally binding and spelled out up front so everyone knows exactly where they stand - no one gets a free ride, unless you want to give them one, and all family members are treated fairly into the future.
When we started working on this new approach we saw how important it was for kids to keep control of their lives. It’s great that they’re getting a helping hand but they’re out there working for a living, earning good money. They want to stand on their own two feet – be independent. They know they could easily cover mortgage repayments but as prices rise the deposit needed grows faster they can save it!
It’s a catch 22 that parents can fix. Family Equity lets you set up cast iron agreements up front, there’s even clever ways to get a decent rate of return on the money you help them out with, while they save too. Everyone feels better, the kids have their own place and mum and dad have peace of mind.
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Interested in knowing more? Let’s get your property dreams off the ground!