Help from Mum and Dad

Mum and Dads can help their children who don't have enough deposit buy their new home using part of the equity they have in their own property. The home loan account can be set up so that the amount of the parents security is paid of first so that their property is released as security. There may also be savings on the cost of mortgage insurance. It is always recommended that Mum & Dad get legal advice so they're clear on where they stand in this type of loan.