Browse Forums Home Finance 1 May 12, 2017 5:58 pm Hi all, Our mortgage broker has sent us some forms to sign - a stat dec about the fact that we are using the equity from our parents house as security against our home loan. We had been told that this did not effect our eligibility to get the FHOG in QLD. None we have this very badly worded email from the mortgage broker saying 'it does count as financial help' but not clarifying our concerns that we now may be ineligible. I can't find any concrete info online and we tried calling the mortgage broker but no answer. Given our situation of using parent equity as security - are we still eligible for the FHOG in QLD? Thanks! First Home Owners and Builders - building Zara29 with Metricon in 2017. Our Build - https://forum.homeone.com.au/viewtopic.php?f=31&t=87366 Re: Parent Security and FHOG - Qld 2May 14, 2017 1:02 am Hi RachM, Are they guarantors here putting the property up along with yours, or are they also going to be on the loan/title as well as borrowers? If guarantors, then no issue, you are still eligible for FHOG, if they are borrowers then not as they already own a property. Cheers, Tom Re: Parent Security and FHOG - Qld 3May 14, 2017 1:37 am Thanks Tom for the reply. They are just guarantors- just providing security. Not on the loan or title. We expect to pay their part of the security off in 3 years. First Home Owners and Builders - building Zara29 with Metricon in 2017. Our Build - https://forum.homeone.com.au/viewtopic.php?f=31&t=87366 Re: Parent Security and FHOG - Qld 4May 15, 2017 12:59 pm Hi RachM, In that case still eligible for FHOG. Don't understand why the broker is asking for a stat dec from them though, I would have thought that the guarantors would be signing forms from the actual lender themselves as part of the application about being the guarantor? Cheers, Tom It's all about wireless, self install now. The cost/benefit of wired setups for the house are no longer what they used to be. Lots of wireless options. Eufy, Arlo and… 2 9792 It seems very clear to me that your contract states that a security account does NOT need to be established so the answer to the builder is NO. If in doubt find a contract… 1 8505 Hi When it rains in a particular direction water comes through the security door. It hits the main door and the bottom swells and jams. There is already a cover over the… 0 38444 |