Using inherited property as equity

Any general questions you might have in regards to loans and finance.
Post Reply
User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Using inherited property as equity

Post by Otto Dargan »

Hi Milly,

Yes this is possible. You can structure this in two possible ways:

1. Your sister and you borrow against the property. You and your husband then use this as a deposit to buy a new property.

2. Your sister agrees to guarantee the loan for your husband and you to buy a property.

In both options your sister needs to agree to you using the property as security as she is a part owner. In both cases you can buy a home with no deposit.

If you like give one of our mortgage brokers a call and we can go through the options with you in more detail. In most cases option 2 would be better as it is quite simple. A few things such as your future plans with the property you current own (sell / keep it?) and if remote location may affect which bank is best.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

Post Reply