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?
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.