Bank of mum and dad no longer just for first-home buyers

  • It’s usually first-home buyers who are tapping into the bank of mum and dad, but there’s another crowd who are asking their parents to step in, according to a peak mortgage body.

When Jaymee and Tim Goldsmith, both 28, looked to buy a $507,000 home in Melbourne’s Glenroy they had a lump sum of just $25,000 for their deposit and costs.

 

READ MORE VIA DOMAIN.COM.AU

Mum

Jaymee and Tim Goldsmith bought their Glenroy home with a 100 per cent lend. Photo: Supplied

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