Hi Terry,

Thank you for your responses.

Terryw wrote:

You don’t mention if your mother has passed away or not.

No she hasn’t. But I have the option of buying out the government’s share before then, if I can finance it.

1. Does the “roughly 6 times your annual gross income” depend on whether you live in the property?

3. I can’t find any documentation describing terms of the agreement, other than that described on the title. They were vague about this when I asked them. I’ll ask them again.

The big unknown is the government’s % ownership and what valuation they’ll use. Apparently ‘% ownership’ also factors in other things like the condition of the house.

I also don’t know how much of the loan she paid off before she retired and how that factors into their “% ownership” equation. I can’t find any loan statements in her paperwork. I might ask them for that information as well.

Just one more question…

Do you know if it’s possible for me to cash in part of my super. I have a self managed super fund (SMSF). If I could do that, that would increase the size of my deposit, and reduce the loan amount.