Loan to son to purchase PPOR

Discussion in 'Legal Issues' started by Soy, 20th Jan, 2020.

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  1. Silverson

    Silverson Well-Known Member

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    Hope it is all going well for you now!
     
    Silverson, 1st Feb, 2020
    #41
  2. Curious2019

    Curious2019 Well-Known Member

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    @Silverson yes, that relationship didn’t last after that situation unravelled but I’ve since found a great partner that shares similar goals and values with me. Probably also helps that we both started out with $0 and have built up our investments and businesses together over the past 3 years to get where we are now - we are a solid team which has made all the difference!
     
    Curious2019, 2nd Feb, 2020
    #42
    Silverson and wylie like this.
  3. Soy

    Soy Well-Known Member

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    It has been nearly a year since I asked the question...
    Just thought I should update that son has bought a house, and the loan contract to son is being finalised. All good and son's partner is fine with it.
    According to a friend of mines who is a financial advisor specialised in SMSF, apparently quite a number of (baby boomers) parents do lend/give $$ to children towards their PPOR with loan contracts drawn up very similar to what I have enquired.
    I sincerely thank everyone for your help and contribution.
     
    Soy, 26th Oct, 2020
    #43
    MWI and frank22 like this.
  4. frank22

    frank22 Well-Known Member

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    Interesting reading and good on you SOY for taking care of your son and partner . I am sure they appreciate it .
     
    frank22, 12th Mar, 2021
    #44
    Soy likes this.
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