The short answer: absolutely, yes!
A financial gift from family members is one of the most common ways first-home buyers get onto the property ladder faster.
However, an outright gift isn’t the only way family can help and depending on everyone's financial goals, it might not even be the best one.
At My Mortgage, we don’t believe in a one-size-fits-all approach. We help you explore every route so that both you and your family feel secure, protected and confident moving forward.
Beyond Gifting: How Family Can Help You Buy
While a non-repayable cash gift is straightforward, there are several alternative structures that might better suit your family’s financial position and estate planning:
Cash Gift
A straightforward contribution toward your deposit with no expectation of repayment.
Early Inheritance
Bringing forward family wealth to assist with a deposit today rather than years down the track.
Family Loan
A formalised, low-interest or interest-free loan from family, structured clearly so your mortgage lender accepts the terms.
Co-ownership
Purchasing the property together as tenants-in-common, allowing family members to retain an equity stake.
Guarantor Support
Using equity in a family member's property as security for a portion of your loan, reducing or eliminating the need for a massive cash deposit.
Hybrid Solutions
Combining two or more approaches, such as a smaller cash gift paired with a family guarantee, to keep risks low while meeting bank deposit thresholds.
Protecting you and your family
Whenever family finances are involved, clear communication and risk management are essential:
Transparency on Risk: Options like guarantees need careful handling so everyone understands liabilities and exit strategies before signing.
Lender Requirements: Banks have strict criteria around gifted funds, gift letters and family loans. We ensure the paperwork is completed correctly to avoid finance delays.
Family Harmony: The right solution should protect your family's retirement plans and peace of mind just as much as it accelerates your homeownership.
Why Work With My Mortgage?
Every family dynamic and financial picture is unique, which is why we never rely on off-the-shelf answers. We take the time to evaluate your full financial situation, sit down with you and your family to openly discuss options and manage risks and design a tailored lending structure that secures your approval while keeping everyone’s wealth protected.
