Parent Equity Home Loan

Mum and Dad can help you purchase or build a home of your own without having to dip into their investments. A Parent Equity Loan lets them use the equity in their home to get you into yours.

If your family is willing and able to guarantee part of your home loan and give us additional security over their property, you may be able to afford your own home even though you don’t have enough savings for a deposit. You will need to be able to afford the repayments on the amount you wish to borrow without their help though¹.

Features

• Borrow up to 100% of the purchase price of your new investment property.
• Borrow up to 10% more to help with associated costs such as stamp duty.
• Choose from a range of home loan options².
• The guarantee is only for the difference between the amount borrowed and 80% of the value of your property; not the whole loan amount.
• The guarantee can be released as soon as the loan amount falls below 80% of the value of your property³.
• Reduce the need to pay Lenders Mortgage Insurance.

Rates & Fees

• Competitive fixed or variable interest rate.
• Establishment fee $445⁴. 

Extras

• pinnacle +plus membership - our package offering discounted interest rates and fees⁵.
• Insure your property, your loan repayments or insure yourself.
• Parent Equity Loan fact sheet for borrowers.
• Parent Equity Loan information sheet for parents.

Useful Links

• Our Handy Home Loan Tips can help you to manage your home loan.
• Useful tips and checklists for buying and renovating your home including green tips.
• Green living tips from the Australian Conservation Foundation.

  

Important Information

Terms, conditions, fees, charges and normal lending criteria apply.  Full details are available in our loan offer and on request.

¹The guarantee and additional security must be provided by your parent, parent in law or step parent. ²All-In-One Accounts and interest only repayments are not available. ³Provided you are not in default and subject to property location. ⁴A settlement fee of $150 and other upfront fees including valuation fees and government charges are payable. ⁵Eligibility criteria apply.