20/05/2014 7:21:32 PM
I have a client looking who with his family has lived in his parent’s home for the last 15 years.
The property is in the name of the parents, they look after the dad who still lives in the home as well, the mother now in nursing care.
They want to do some work on the property to all better fit and upgrade 1970's appliances.
The father has agreed as he will also benefit. As per discussions with both, this home will be left to the client via the fathers will.
LVR will be < 40%, facility around $350k, client easily services based on his income and commitments but the property is in the parents name.
They have investigated the possibility of transferring title but that will trigger stamp duty and have pension implications so prefer not to do this.
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your mortgage scenario