Amy Lunardi

speaker

1,235 appearances 4 recordings 1 series first heard May 2020 last heard Dec 2022

Amy Lunardi’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

No recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.

Appearances

newest first · ▶ plays the moment

Australian Finance Podcast · Is Now The Best Time to Buy a House? Guest: Amy Lunardi · 3 May 2020 podcast

Now, parental guarantor loans, I love them.

I've used one.

They're not right for everyone.

But what it is, is essentially taking that, you might have a portion of a deposit, whether it's 5%, 10%, maybe a bit more, but your parents are wanting to help you out without necessarily giving you cash.

So they allow a portion of their property to be used as security, 20%, which means you still don't pay LMI.

You've got 100% loan, but you can then take your cash and pop it in your offset account.

So you've got a bit of liquidity there and you've got a bit of protection.

And the good thing is that the only risk to your parents is you not paying your loan.

So they've got to feel confident with you and you've got to have that relationship.

And in time, once your property increases in value where it's got its own LVR for 80%, then you can release them.

So I used this for my first property and I released my dad within, I think it was only two and a half years.

Not right for everyone.

Not everyone's comfortable with it.

I think parents who try and use it to force their kids to buy a property when their kids aren't ready for it, that's an example of when it can't work.

But speaking to a really good strategic mortgage broker about the risks and getting your parents in and sitting down with them in that meeting, I think it's worth exploring.

I think it's a great avenue.

Well, I put a business case together for my dad when I did it.

He's very anti-debt and I had to demonstrate the risks and everything that could have impacted him and he was okay with it in the end.

But you're absolutely right.

You need to be able to demonstrate to your parents that you're responsible and you're not doing it just because you've got no other option.

Showing 1181–1200 of 1,235 · page 60 of 62