First home buyer - any chance?

Redom ANZ is the most flexible in their approach to family guarantees, but others do have varying degrees on what they can and cannot accept. Income assessment is another area where the banks vary their policies quite dramatically.
 
I am sure the broker advise you be but just be 100% transparent with a deal like this. If your friend needs equity for themself in the near future (unexpected medical bills, needs a new car desperately, amazing deal becomes available.etc) then they will not be able to access the equity as it will be locked to your property.
 
Also consider the cost of waiting vs the cost of asking a friend to do this. Is it really that high, that you can't wait 6-12mths to get your own deposit and have your VEDA score improve so that you can do it yourself?

Maybe you could have your wife go fulltime work for awhile to speed things up.

Best solution is to stand on your own 4 feet I think.

That's my 2 cents
 
Back
Top