These days, getting onto the property ladder can seem like an insurmountable challenge with rising costs and stagnant wages making it difficult to save up for a deposit. For many fortunate people, this is where the Bank of Mum and Dad steps in, as parents and family members provide financial support to help their loved ones achieve their goals. But is it as simple as your family gifting you money, or is there more to it? To answer that, I invite mortgage broker, Chelsea Burton and investment expert, Luke Harris to talk about how this arrangement works in practice, the benefits and drawbacks for both sides and some of the realities of relying on family support in today's challenging financial landscape.
Chelsea is a senior broker at an independent mortgage broking firm used exclusively by The Property Mentors specialising in investment property loans. Her experience and commitment to finding the right loans for the right people makes her an asset to any investor's team.
Luke has an extraordinary depth and breadth of experience in business, property and investing. With big dreams, persistence and a can-do attitude, Luke’s ambition is to help the members of The Property Mentors to grow significant wealth through property, so they can go on to successfully fulfil their own dreams and ambitions. Our resident expert, Luke always brings wisdom and intelligence to every Investor Intelligence episode.
With extensive experience in podcast producing, audio editing, social media and script writing, Phoebe is a creative powerhouse in the Investor Intelligence team. Her innate interest in creating interesting content coupled with her passion and drive for quality production and storytelling brings life and excitement to the material she produces for Investor Intelligence.
Each month we like to present a dedicated FAQ episode where we take questions from our listeners and put them to our resident expert, Luke Harris. With more than two decades of residential and commercial investment experience under his belt, Luke has seen the best and worst of the property market.
Have a question you want answered? Let us know on the link below.