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"Family loan" as in you bought it in joint names? and the he refinances so it's his own loan and you (family) are then taken of the title? making him the only owner on the title and on the loan?

Very interesting! with the above sentence My brother's son has just contracted to buy a townhouse further from the city where he lives now. It is $295K and we will give him his inheritance now to help him as he has just started an apprenticeship ($10 per hour) and needs it now to get into his...

hows much was his income?

yea i've looked at that, if i had a 20% deposit and a guarantor. still was only like 130k was a joke. i'm thinking i'll just use my mums name. cheers all

Hi all So my situation is that i cannot get bank finance, because i'm on a low income. i will be on the average income in about 12-18 months and will be able to get finance. so for my first property (230-240k) i will be buying it with my mum. as she is a high income earner (the property...