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Best Family Gift To Help First Home Buyer

Australians are always ready to help each other in times of need and are renowned for wanting to help their children get ahead. One way an immediate family member can assist a child, or a sibling is to give them money as a gift. The reason we refer to it as a gift is that it differs considerably to a loan, as a gift does not have to be repaid, whilst a loan does. When considering a loan application, a lender will treat a family loan the same as any other loan, therefore it is counted within the loan application and allowances are made for repayments and interest irrespective of your specific arrangements.

A gift on the other hand, is not considered something that needs to be paid back therefore it is looked at favorably when it comes to a loan application.

Ideally, where a family member is happy to provide a gift, it can either be provided as one lump sum amount prior to the purchase of the property. Alternatively, it can be provided in parts whilst you are saving for your loan.  There are advantages in having the money gifted over time in smaller bundles as opposed to one large amount, which can reflect positively on the loan application.

TIP Where a gift is received 2 years prior to a loan application, it does not need to be defined as a gift. In fact, any money gifted 90 days prior to a loan application is not considered a gift when it comes to a loan application.

When it comes to financial gifts from a Family Member, it is worth remembering that works to your advantage to receive the gifted money at least 90 days prior to you lodging a loan application  Multiple payments whilst your saving for your deposit is also another approach which will ultimately assist your application. Either way, gifting is perfectly accepted by Lenders and ultimately does not hinder your loan application.

Why Choose Brisbane Home Loans

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Brisbane Home Loans is all about good old fashioned personal service without exception.

We Find The Right Deal For You

We take the time to listen to your needs and then search the market for the best products that satisfies your needs at the lowest possible cost to you.

Ongoing Comittment

We continue to work for you after the deal is finished, ensuring that we asess any new offers that become available which may improve your current deal.

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We give our clients access to Personal Loans, Home Loans, Investment Loans and Commercial Loans.  You always only deal with on person for all your lending services.

How We Work With Our Clients

We can meet clients in our office, in their home, their office or the local coffee shop. Our initial interview will helps us understand the clients needs in the short, medium and long term so that we can find the best possible lender for your loan.

The world of financing continues to be more and more complicated. Our Lenders have experience in finding the right product to meet the specific needs of each of our clients.  During this phase, we identify two to three options that may be suitable.

Our Lending Specialists will present to you a number of options available outlining  the differences, benefits and downfalls of each option presented. Our preferred option and reasons why, we consider this the best fit for you will be clearly explained.

Our Lending Specialists work with our clients to have all documentsation signed, submitted to the lending institution and processed through to approval.

We pride outselves on client service which is why our Lending Specialists establish a reasonable review timeframe where they touch base with our Clients to ensure everything is working as planned.  During this review, the client is made aware of any new financing options in the market.

Brisbane Home Loans is not about one off loans. We truly care about our clients, which is why we stand by their side beyond the completion of the loan.

What Does A Mortgage Broker Do

Listen and Evaluate Your Needs
Calculate How Much You Can Borrow
Compare Options Available to You in The Market
Provide You Expert Advice
Do All The Leg Work
Obtain Pre-Approval For You
Create A Plan For You To Ensure Your Always Getting The Best Deal
Most Importantly We Provide This at No Cost To You

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