Guarantor on IP

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From: Andrew French


Dear PI Forum,
What are the implications of getting my parents to go guarantor for my first investment property. They are both pensioners, and have their own property + an IP with total equity of $150k.

Regards
Andrew
 
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Reply: 1
From: Sergey Golovin


Andrew,

We just had that very same topic on the forum 2-3 weeks ago. Please check previous messages.

Serge.
 
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From: Jeremy Laws


My parents have been through this with a friend and with my sister. I would urge them in the strongest possible terms, to 'give' the money or to structure a loan after having borrowed the money themselves on the asset. ie an LOC at say 6% loan to possibly deserving offspring at 8-9%. If the cash is given your asset is limited absolutely to that.
 
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