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Refinancing to Pay Off a Parental Loan
In the last few years, parental loans have gained a lot of momentum and they're really cool. Matthew has got a mortgage and next month he's looking at getting that LVR down to 80% so the parents can come off the mortgage, so to speak. They need to assess his income and make sure he's suitable to look after that loan. But every one of these steps is also a credit decision. So you need to show your pay slips. You need to have a well-conducted loan. I can't stress enough, especially if there's a guarantee there to make sure those loans are perfectly conducted.
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