Forums / Getting Technical / Finance / Lenders that take into account living with parents

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  • Profile photo of BrizzaBrizza
    Participant
    @brizza
    Join Date: 2003
    Post Count: 75

    I noticed on HSBC’s borrowing power calculator, they have a provision for “living at home with parents” which improves your serviceability.

    Do all lender’s have this? Or do only some allow for people still living at home with their parents? If so, which ones do?

    Profile photo of woodsmanwoodsman
    Member
    @woodsman
    Join Date: 2004
    Post Count: 714

    Brizza,

    In all my applications for finance (which covers 4 separate lenders – CBA, Westpac, St George & Macquarie), they have all wanted to clarify current living arrangements. That is

    Living in own PPOR? Renting? OR are you living at home with parents.

    Profile photo of MortgagemanMortgageman
    Participant
    @mortgageman
    Join Date: 2004
    Post Count: 164

    All lenders will take into account current living arrangements. It is possible to have no current rent included in serviceability if your parents provide a stat dec stating this.

    Profile photo of PropertyGuruPropertyGuru
    Participant
    @propertyguru
    Join Date: 2003
    Post Count: 1,502

    Yes all bank will accept that.

    Cheers
    PropertyGuRu [sultan]
    Mortgage Consultant
    [email protected]
    MSN ID: amitash, Yahoo Id: bornguru

    NZ loan pre approval from OZ in 48 hours

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