Seven ways to help your kids buy property without family fallouts
Generous parents are unwittingly creating a minefield of legal, tax and financial problems that could not only jeopardise their own futures but cause rifts.
Mano Georgopoulos and Louise Oldman are helping their adult children into the property market with a slightly different take on the Bank of Mum and Dad (BOMAD). Rather than acting guarantor on a mortgage or providing the deposit, they have bought two properties that they have negatively geared and where their children live.
They are among a rapidly growing number of parents stepping in to help their children get into the property market as crippling costs of living and rising interest rates push home ownership beyond reach.
