In this episode, we discuss the Bank of Mum and Dad, including what it is and how to use it. The bank of Mum and Dad does not necessarily mean that your parents give you cash to use as your deposit to buy your first home.
More often than not, it is your parents increasing the size of their mortgage on their own property in order to give you enough of a deposit to top up your deposit.
This comes with its own risks and benefits and during the show we explain exactly how the bank of Mum and Dad works and a few things to look out for, whether you are using the bank of Mum and Dad to get started in property investment nz, or for your own home.
The Property Academy Podcast