How the bank of mum and dad can be incredibly risky

The struggle for first-home buyers seems to be immense in today’s market, and many are looking for a leg up on the competition. Leveraging what you can, like hitting up the bank of mum and dad, can be what gets some across the line and into the property market. To chat us through what exactly that means, the risks that come along with it and how to save for a deposit when mum and dad are not an option for you, Canstar Editor-at-Large, finance commentator and author of Ditch the Debt and Get Rich, Effie Zahos. We also hear from Adrian Lowe, Domain’s Editorial Director, to unpack what government grants are available to first-home buyers across the country. 00:30 - The risks of using the bank of mum and dad 17:25 - The grants available to first-home buyers ---- The information in this post is general in nature and should not be considered personal or financial advice.You should always seek professional advice or assistance before making any financial decisions. Digital Home Loans Pty Ltd t/a Domain Loan Finder (ABN 39 619 694 156, Credit Representative 500208) is authorised by Auscred Services Pty Ltd (ABN 50 164 638 171, Australian Credit Licence 442372). All applications are subject to assessment and lender approval.