How would I go about using my mothers house as equity for a loan approval?
Is it possible? Could someone perhaps suggest steps that I need to take.Thankyou, (from the absolute beginner)[confused2]Several ways. But make sure you consider carefully before choosing. Some ideas are:
1 Go partners with the parents on the property.
2 Parents act as as your guarantors.
3 Parents borrow against the home and lend you the deposit.
Hope this shows that there are a number of ways to skin this cat.
I wouldn’t suggest any alternatives unless I knew your situation.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Be very very careful,
All things are possible – its very easy to use your mothers house as equity as MH as described above but you must be careful. If you use the property belonging to your mother as equity and by some unfortunate circumstance, you default on the loan and are unable to make repayments, you don’t want your mother to be living on the streets.
Kind Regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
Hi absolute beginner
I am a ‘second step beginner I suggest you do what I did ….invested in my financial education because when I started or when I decided to be an investor (April)I knew squot[blush2]
It cost me some money to educate myself…but it cost you NOT to do it [bawl]..find your niese in investing Warning it won’t happen over-night
goodluck
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