Once parents agree in principle to a family guarantee, the next step is to sit down together with a mortgage broker, who explains the process and the legal documents involved. Parents should get independent legal and financial advice before signing, so they fully understand the risk: if the borrower can't repay, the lender can call on the guarantee.

In this video, McKern financial adviser Shahin Tehrani explains the steps, then turns to what to buy: whether your goal is lifestyle or long-term capital growth. He shares why, as an investor, he prefers houses on land over units or apartments, and how a beachside apartment might suit lifestyle better than growth.

In this video

0:00 Next steps once parents agree

1:00 Lifestyle or capital growth?

General information only, not personal advice.