Eldest daughter is 29 and we want to help her buy a home. She has a good job earning 87,000 and pays 300 rent a week in Sydney. Can we give her 50,000 to buy, get a loan - we don’t want to be on the loan?

Hi Pat,

Very exciting that your daughter is looking at her first home purchase. To answer your question you can definitely give her the $50,000, a lender will just need to see that this is a non-refundable gift that you are giving her, so that this can be used as her cash deposit.

If you would like me to look at our panel of 25+ lenders for you to see what is out there that would suit her needs please contact me and I will get a few more details from you and can go ahead with getting you figures on what she will be able to borrow.

I have had a couple of cancellations this week so if you get in touch by tomorrow I should be able to get figures to you by COB Thursday.

Kind regards,
Jacqui Milway
0431.156.001

Hi Pat,

Good on you for helping! Yes you can, there are many lenders that don’t have a problem with that.

Happy to answer any questions you have. Please don’t hesitate to contact me at anytime.

Zaid
0401586901
SB FINANCE