Want to help your adult children get on the property ladder?
Combining Assquire® and Mortgage Alternative is the answer!
Assquire® Family is not a guarantor product. Being a guarantor for your adult child’s mortgage can be risky. So is a family pledge. There are no financial benefits for the guarantor, only risk. That’s why mortgage insurance is so expensive!
What if your child and their partner divorce, get sick or lose their job? And if you help one child, what about the others?
With Assquire® investing and Mortgage Alternative home buying, all members of the family can benefit. Parents receive a good monthly return and adult children can finally achieve home ownership or trade up to another home, with lower up front costs (such as mortgage insurance).
You can purchase a new or established home not just as a good investment for yourself, for a good return, but also one that your adult children would love to live in and purchase, and call their own.
Click here for the Assquire® Family Flyer.
How does it work?
You use an existing investment property or purchase a new one. You then sell and lease the home to your adult children today, on a deferred settlement basis of up to ten years. They settle at a time of their choosing.
Both you and your children will need to be credit qualified by Haigslea Residential. You (the parent) will require at least 20% equity in the property, as the Assquire® investor. Usually Assquire® requires 25% equity in a property, but for Assquire® Family, it is lowered to 20%.
Your child will require at least 4.5% to 5% up front cash contribution (non-genuine savings may be accepted). The great news is that their contribution is inclusive of any stamp duty.
Do you like numbers?
For an example for an employed Assquire investor (parent) on say $80,000 taxable income pa, view this table to compare example returns for Assquire® Family compared to conventional rent.
The returns to the Assquire investor on a $350,000 property model at up to $19,000 and 70% higher than a conventional rental, if the adult children settle early at the end of year 6 and proceed from there with a traditional mortgage.
For an example for a semi-retired or retired Assquire investor (parent) on say $30,000 taxable income pa, view this table to compare example returns for Assquire® Family compared to conventional rent.
The returns to the Assquire investor on a $500,000 property model at up to $20,500 and 79% higher than a conventional rental, if the adult children settle early at the end of year 6 and proceed from there with a traditional mortgage.
More Choices for You and Your Extended Family
We’re adding to your choices – not subtracting from them.
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