HI ME AND MY WIFE ARE IN OUR MID 50S WE NEARLY OWN OUR HOME WE HAVE ANOTHER PROPERTY WITH A GRANNY FLAT WE STILL OWE AROUND 35% OF THE PROPERTY VALUE WE WANT TO SELL OUR PRINCIPLE HOUSE AROUND AGE 60 TO PAY OF OUR DEPTS AND HELP OUR CHILDREN WITH A DEPOSIT FOR A PROPERTY WE WANT TO MOVE INTO OUR INVESTMENT BECAUSE WE WANT TO RECIEVE THE PENSION?

Rudi. Good evening. Thank you for your question. In regard to moving into your investment property as a place to live, particularly while the Granny flat stays leased, is something to get some good financial planing advise on from someone very experienced in the Capital Gains Tax arena.
In regard to helping your children, it appears you would have sufficient equity in the investment property to assist in a Guarantor capacity right now.
Your children would need to be able to support the loan repayments under there own steam and your guarantee could cover for the abscence of a full 20% deposit.
Please give me a call if you would like to discuss this in more detail.
Regards
Ken Olds
Customers First Mortgages & Insurance
1300 ASK KEN
Finance@AskKen.com.au

Agree - please get advice around retirement planning. Via property, you can assist your children with a Family Guarantee loan for the 20% + costs if they have the net income to service the full loan.

How I structure such loans is the 80% is paid interest only - and the guarantor part principal and interest plus the principal component from the main loan - same repayments - the guarantee loan gets paid quickly - generally < 8 years.

Call me on 0434 528 186 or email me on marie@mariefergusonassociates.com.au... I am both a financial planner and mortgage broker so I can give you both perspectives in one sitting.