Young people are banking on the family home to get a foot on the property ladder
YOUNG battlers are resorting to unconventional ways to break into the housing market. A growing number of parents are using their own homes as security so their children don’t have to stump up a deposit. Others are buying with friends and family, renting out a room or buying an investment property to make a start. Aussie Carnegie mortgage broker Mark Daly said family equity loans, which can allow applicants to borrow the entire value of a home and avoid costly mortgage insurance, were becoming more popular with younger cash-strapped buyers.


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