Overview
First home buyers often require familial help to overcome the deposit and affordability hurdle, and get onto the property ladder. This may take the form of gifted funds, or a specific loan structure such as a guarantor loan or co-borrower arrangement. Some of these arrangements, such as a guarantor loan, can help buyers avoid paying LMI.
Felix Finance is able to help you understand how your family support works in a loan context, and to advise on a loan structure that suits you.
Loan options
Guarantor loans
Loans where a family member uses their property as security to help you avoid LMI or secure a higher borrowing power.
See guide
Gifted deposit
Where you have gifted funds from family members as a contribution to your house deposit.
See guide
Co-borrower arrangements
When you share responsibility for a loan with another person, allowing you to combine incomes for better borrowing capacity while both being legally liable for repayments. While typically used for couples, may be used with family members, or others, especially for first home buyers.
See guide
Parental loans
When your parents lend you money directly, often helping first-home buyers enter the property market with more favorable terms.
See guide
Calculators
FAQs
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