We have a situation where we will be able to utilise the equity in my mums home. Until such time as the right ip comes up should we be putting all of our monies into mums home or continue our own savings? Which would be the best way for both us and mum. ANy thoughts would be most appreciated..
LA[?]
If you continue your own savings you can build a savings pattern to satisfy the lenders.
Had a client recently who kept his savings in his parents offset account. Seems like a great idea but it crueled him when he applied for a 95% lend as he couldn’t prove it was his savings.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thanks Simon
That’s what I thought but wanted to clarify if anyone had come across the situation.. Appreciate your advice
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