Parent Assist - A better way your parents can help you into your first home.
Need help from mum and dad for your new home?
Rather than taking years to save your deposit, your parents can help unlock home loan approval right now. A parent loan is nothing new but Parent Assist has one important difference - it’s an officially managed loan.
How it works
Your parents loan you up to 20% of the purchase price. The bank provides the rest. You repay them with interest like any other official loan but at half the rate of your home loan.
When the house is sold, you repay your parents (or you can repay them sooner if you choose to make extra repayments).
No guarantor necessary
Your parents won't have to risk their home to help you get into yours
Still get the First Home Owners Grant and stamp duty concessions. Plus save thousands in mortgage insurance
Easier to ask your parents
The loan is transparent and structured, making it easier for your parents to say ‘Yes’.
More financial muscle
You'll have more choice, meaning you can buy something bigger or in a better location.
Contact us today for more info
For full information on this product please view the Parent Assist Information Statement on our website at www.parentassistloan.com.au which details the full terms and conditions of the loan.