Demand for guarantor home loans on the rise, as parents race to help children onto property ladder


Rapidly rising house prices and a fear of missing out is driving up demand for guarantor home loans and help from the bank of mum and dad, with growing concern among first-home buyers and their parents that the “great Australian dream” is slipping out of reach.

With house prices back on the rise and showing no signs of slowing — Westpac has tipped a jump of up to 20 per cent in Sydney and 18 per cent in Melbourne over two years — mortgage brokers are reporting increased interest in guarantor loans.

Interest in guarantor loans, which enable first-home buyers to avoid lenders mortgage insurance (LMI) when buying with less than a 20 per cent deposit, has been climbing since September, says mortgage broker broker James Algar, of Mortgage Choice.

Interestingly, it’s a trend being driven more by parents rather than adult children looking to buy, he said.

“There’s definitely been a substantial uptick from parents looking to support kids,” Mr Algar said. “I’ve had parents come in with clients for their first meeting and say ‘what do we need to do to get them in the market now, is it giving a gift or is it going guarantor’. Really, parents are the driving force, and I’ve only seen that in the last few months.”

Young adult asking parents for money.
First-home buyers and their parents are increasingly asking about guarantor loans.

Concern that first-home buyers could miss their chance to buy if they do not get onto the property ladder soon was a key motivating factor, Mr Algar said.

However, increased confidence in the market and greater awareness of guarantor loans off the back of the federal government’s First Home Loan Deposit Scheme (FHLDS) had also made more parents comfortable to go guarantor.

“With prices running away, the parents’ equity in property is a safer bet from their point of view,” Mr Algar said. “Parents are pretty confident that the market is not going backwards anytime soon, so they would rather see their kids buys now than be completely priced out of the area.”

Rising prices and a rush to get in have also seen the sums parents are guaranteeing rise, Mr Algar added, with some well off first-home buyers, helped by low interest rates, able to meet sizeable repayments after bypassing the hurdle of a 20 per cent deposit.

He noted some clients had guarantees in excess of $300,000.

“Parents were typically guaranteeing about $60,000 to $100,000 and it’s now well above that,” he said.

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First-home buyers are fearful they could miss their window to buy if they don’t purchase soon. Photo: iStock

While first-home buyers had been quick to snap up spots in the FHLDS, Mr Algar said his clients on Sydney’s northern beaches had typically been looking at homes priced above the $700,000 price cap.

Though there are still positions available for new dwellings, he said, many first-home buyers were not prepared to pay the premium required to buy a brand new home.

Mortgage broker Rebecca Jarret Dalton, founder of Two Red Shoes, said a huge number of first-home buyers was trying to get into the market before further price rises.

She had also seen increased financial support from the bank of mum and dad, via guarantor loans, lending and cash gifts for home deposits – again driven by parents, rather than first-home buyers.

“I’m seeing a lot more first-home buyers say they want to do it by themselves and struggle, and then mum and dad come in and say why don’t we just help you,” she said.

“Right now, parents are really keen because they know the market is moving, so it’s harder for their kids to save and keep up with it,” she said. “When the market is more plateaued, they understand that kids have got more time.”

The auction of 4 Woodvale Avenue North Epping
First-home buyers have been out in force at auctions. Photo: Peter Rae

More than one in five of Ms Dalton’s first-home buyer clients over the past year got into the market with a government scheme spot or a guarantee or money from their parents. More clients had also been able to buy after moving back home with their parents to save.

She said hesitancy from either party involved in a guarantee was usually resolved when they understood it was for a limited proportion of the loan, which would be lifted when home-owners had enough equity in their property – working faster in a market with rising property prices and low rates.

About a quarter of parents feel obligated to help children buy their first home, according to research by financial comparison website Canstar.

But more parents were willing to help, said Steve Mickenbecker, Canstar’s group executive of financial services.

“The fear of missing out is alive and well both with first-home buyers, but also with the parents,” Mr Mickenbecker said.

“Parents are obviously nervous about prices going up and their kids missing the boat, just as young adults are concerned about missing out. They don’t want to see them forever chasing their tail,” he said.

Mortgage brokers can find a range of suitable lenders, allowing borrowers to make an informed decision without the legwork.
First-home buyers and their parents are encouraged to assess their options for guarantor loans. Photo: iStock

He warned parents looking to provide support to make sure they could truly afford to do so, and consider how it would affect them long term. Beyond that, any loans should be documented and given a time frame, and parents should ensure they only guaranteed a proportion of a loan they were confident their child could repay.

He noted clear expectations should also be set for children returning to the family home to save for a deposit.

Mr Mickenbecker said many first-home buyers were not in a position to receive parental assistance, but could look towards government support measures or bank offers covering the cost of LMI.

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Brisbane Lions thump West Coast Eagles to move to the top of the AFLW ladder, thanks to a huge percentage


The Lions led by one point at half-time, despite the Eagles dominating inside 50s and incredibly winning the game’s first 13 clearances.

But they made the visitors pay for their missed opportunities in front of goal, putting the foot down with a five-goal third term to prevail 10.5 (65) to 2.8 (20) at Hickey Park in Monday’s rescheduled fixture.

It kept the Eagles winless in their second AFLW season and set up a tasty clash with unbeaten Melbourne next Sunday after the Lions’ comprehensive defeats of Richmond and Gold Coast to begin their campaign kept their percentage above 500.

Lauren Arnell collected a game-high 18 disposals and a clever grubbered goal in a stand-out performance.

The competition’s leading goal kicker, Dakota Davidson, managed two majors, including a set shot from the tightest of angles in the pocket to ignite the Lions’ second half.

That goal followed some stern half-time words from the Lions’ coaching staff and sparked them into action as their midfield turned the tables and Alexandra Anderson, Jesse Wardlaw, Taylor Smith and Arnell all kicked third-term majors.

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Brisbane Lions thump West Coast Eagles to move to the top of the AFLW ladder, thanks to a huge percentage



Brisbane have absorbed an early West Coast surge to thump the Eagles by 45 points and stay unbeaten in the AFLW.

The Lions led by one point at half-time, despite the Eagles dominating inside 50s and incredibly winning the game’s first 13 clearances.

But they made the visitors pay for their missed opportunities in front of goal, putting the foot down with a five-goal third term to prevail 10.5 (65) to 2.8 (20) at Hickey Park in Monday’s rescheduled fixture.

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It kept the Eagles winless in their second AFLW season and set up a tasty clash with unbeaten Melbourne next Sunday after the Lions’ comprehensive defeats of Richmond and Gold Coast to begin their campaign kept their percentage above 500.

Lauren Arnell collected a game-high 18 disposals and a clever grubbered goal in a stand-out performance.

The competition’s leading goal kicker, Dakota Davidson, managed two majors, including a set shot from the tightest of angles in the pocket to ignite the Lions’ second half.

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That goal followed some stern half-time words from the Lions’ coaching staff and sparked them into action as their midfield turned the tables and Alexandra Anderson, Jesse Wardlaw, Taylor Smith and Arnell all kicked third-term majors.

“You have to expect good teams to come at you and we were a little bit flat early,” Lions coach Craig Starcevich said.

“[We needed] to embrace the fact that we were in a contest. Last week [against Gold Coast] we were comfortable all the way through but it was a different kettle of fish.

“We were right in a contest and it was valuable for later on in the year to get some composure and try to find a solution to this.”

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Their ability to bring the ball to ground and convert whenever entering their forward 50 was a clear difference, with the Eagles unable to transfer their early field position dominance into genuine scoring chances.

“I’ve been really proud of their effort for periods of the game … but against good teams you need to play for four quarters,” Eagles coach Daniel Pratt said.

“Brisbane are at the top of the table for a reason and they made us pay … it could have been a completely different game [if West Coast kicked straight in the first term].”

Aisling McCarthy had 17 touches and a goal for the Eagles while Andrea Gilmore kicked her first AFLW goal before a head knock ended her night prematurely.

The Eagles immediately flew home to Perth on Monday night. They will head east again to face the Giants in Sydney on Sunday.

AAP

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Sydney Sixers in BBL box seat after topping ladder ahead of finals series


Sydney Sixers are out to make the most of finishing top of the BBL ladder as they seek to defend the title they won for the second time last year.

The Sixers confirmed first place and home ground advantage for the finals with a five-wicket bonus point win over Melbourne Stars at the MCG on Tuesday night.

The result means they will host Perth Scorchers in the first-versus-second ‘qualifier’ final on Saturday, with the winner advancing directly to the season decider.

But the match will be played at Canberra’s Manuka Oval because of travel restrictions around Sydney, which has not hosted a BBL match all season.

Sydney Sixers and Perth Scorchers will meet in the ‘qualifier’ for a spot in the final.(AAP: Lukas Coch)

Brisbane Heat and Adelaide Strikers meet in the ‘eliminator’ at the Gabba on Friday, with Sydney Thunder hosting the winner of that match in Canberra on Sunday.

“It is pretty close and I think anyone can win it from here, so the placings are really important,” Sixers fast bowler Ben Dwarshuis said.

“If you’re fourth or fifth you’ve got to win four games in a row to end up winning it.

“[Finishing top] is a big advantage and hopefully we can make the most of it.”

Dwarshuis said his teammates are “optimistic” about home games in Canberra, where they boast a 2-0 record this season.

“We would’ve taken a lot out of those games in regards to what works on that particular wicket and that size ground,” Dwarshuis said.

“Traditionally the wicket might play a bit slower and be a bit more spin friendly, and I think we’ve got some really talented spinners.

“We’ve got some quicks who take the pace off the ball really nicely and bowl some nice cutters, so I think it’s a wicket that we can definitely go well on and hopefully go the whole way.”

Sydney Thunder captain Callum Ferguson is equally as buoyant about the prospect of a home final in Canberra for his side.

“We get really well supported there, it’s a second home for us,” he said.

Marnus Labuschagne stands with his legs wide apart and leans into a shot, played with an angled cricket bat
Marnus Labuschagne scored 46 runs and took 3-35 in the Heat’s 6-run victory.(AAP: Rob Prezioso)

Brisbane Heat batsman Marnus Labuschagne, who has become an increasingly dangerous part-time leg-spinner, declared his side was right in the title hunt after beating the Scorchers by six runs on Tuesday.

That’s despite the Heat needing to win three straight knockout matches just to reach the final on February 6.

“It feels great to actually get into the finals, we have been close the last few years,” Labuschagne said.

“And it wasn’t the perfect game today but that is also an exciting thing for us going into the finals — that we haven’t put the perfect game in yet and we snuck in.

“We’re a big threat.”

AAP

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Hobart Hurricanes beat Brisbane Heat by one run at the Gabba to go third on Big Bash ladder


A sensational five-wicket haul from Afghan mystery spinner Mujeeb Ur Rahman has been undone by a dramatic last-ball Big Bash League defeat for Brisbane Heat against Hobart Hurricanes.

Mujeeb picked up the best figures ever by a Heat bowler — and the fourth best in BBL history — by taking 5-15 off his four overs at the Gabba as Brisbane dismissed Hobart for 150.

But his efforts were in vain as the Heat finished on 8-149 off their 20 overs with Mark Steketee run out off the final ball chasing a tying score which would have forced the game into a super over.

Third umpire Phillip Gillespie decided Steketee’s bat was short of the crease when it was grounded before bouncing up in the air as Colin Ingram’s throw hit the stumps at the non-striker’s end.

Despite uncertainty over whether Steketee’s bat had actually been short of the line, Heat captain Jimmy Peirson accepted the call after viewing a replay post-match.

The cricketing year ended on a frustrating note for the Brisbane Heat with Mark Steketee’s run-out sealing defeat to Hobart.(AAP: Darren England)

“I had a brief look just then… and it looked like the bat did bounce before the line,” Peirson said.

“I’d love to have a real good look at it but we (have to) look within, we can’t blame that or whinge about that.

“We got ourselves in a situation where we should have put that game to bed with the bat, we didn’t do that.”

A smiling Big Bash bowler high-fives teammates after he takes one of his five wickets for the match.
Afghan spinner Mujeeb Ur Rahman had the fourth-best figures in Big Bash history, taking 5-15 for the Heat against the Hurricanes.(AAP: Darren England)

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The first Twenty20 five-wicket haul in 19-year-old Mujeeb’s career eclipsed West Indian Samuel Badree’s 5-22 against the Melbourne Stars in 2016 as the best bowling by a Heat player.

His effort, which included three wickets in four balls in the penultimate over of the Hurricanes’ innings, is the best return in the BBL since Dan Christian’s 5-14 for Hobart against Adelaide in 2017.

Chasing 151 to claim a second win over the Hurricanes in four days, the Heat slumped to 3-8 in a disastrous start.

A 50-run partnership between Max Bryant (32 off 21) and English import Lewis Gregory (29 off 27) steadied the innings.

Second-gamer James Bazley, who scored an unbeaten 31 on debut in Sunday’s four-wicket win over the Hurricanes, brought victory within sight as the Heat needed seven to win off the final over.

Scott Boland (2-18) restricted the Heat to just five off his first five deliveries and when Ingram produced his last-ball heroics, Bazley was left stranded on 49 not out.

Along with Boland, Riley Meredith (3-21) was the other key bowler for the Hurricanes.

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“It was really exciting and, obviously, a thrilling finish to a pretty crazy game,” said Singapore international Tim David, who provided some late fireworks in Hobart’s innings with a 17-ball 36.

“I feel like probably most of the batters will be a bit disappointed leaving a few runs out there from both sides but to defend seven in the last over and even the guys that did a really tough job from this end to the short boundary, yeah, it was amazing.”

AAP



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AFL 2021 tips: 21 fearless predictions by Fox Footy, premiers tips, ladder, Collingwood trade news


It’s close to Christmas and in the Fox Footy office that means prediction time.

So, without the benefit of hindsight, we’ve taken a look at what next season might hold.

Here are our 21 fearless predictions for 2021.

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Grand Final

1. Three teams will miss the top eight after playing finals in 2020



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AFLW fixture 2021: AFL Women’s fixture, schedule, matches, dates, teams, venues, ladder, how AFLW works, latest news


The full fixture for the 2021 AFL Women’s season has been revealed.

After failing to complete the 2020 finals series due to the pandemic, the 14 teams will play a nine-round season with no conferences, meaning they’ll all be listed on one ladder.

Fremantle was unbeaten heading into a preliminary final against Daisy Pearce’s Melbourne when the season was called off, while North Melbourne set to face Carlton.

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Grand Final

The season will start a week earlier than usual on Thursday January 28 with a clash between Carlton and Collingwood at Ikon Park.





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NRL draw 2021: predicted ladder, premiers, wooden spoon Melbourne Storm, Penrith Panthers, Wests Tigers


Look away Tigers fans, we’ve got a predicted ladder for next year and it’s looking like a case of deja vu… another ninth place finish.

The full 2021 NRL draw is here which means fans can start pencilling in their favourite clashes and start predicting who will take home the premiership.

To help, Fox Sports Lab has pulled together a predicted ladder.

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Round 1

It was generated by simulating the season 10,000 times and then looking at the percentage of times each team sat in each position.



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Premier League win for Southampton over Newcastle puts the Saints on top of ladder for first time


Ralph Hasenhüttl described his Southampton side’s form as scary after a 2-0 win over Newcastle United put the south-coast club top of the Premier League for the first time ever on Friday.

An early volley by Che Adams and a late strike by Stuart Armstrong hardly did justice to a vibrant Saints display as they bagged their fifth league win of the season.

Despite losing their opening two games, Southampton has 16 points from eight matches and is above champions Liverpool on goal difference.

They will stay there until Sunday at least if Everton fails to beat visiting Manchester United on Saturday.

“Amazing what my team does at the moment,” the Austrian coach, who has transformed Southampton in the past 12 months since a 9-0 home defeat by Leicester City, told Sky Sports.

“We maybe could have scored a few more today but the rest was nearly perfect. Good game management and everyone was on the highest level.

“It’s a bit scary what we’re doing at the moment but not so surprising as I see them working.”

The last time the Saints led the top division of English football was on September 16, 1988, when it was the old Division One rather than the Premier League.

The performance was all the more impressive as leading striker Danny Ings was out having undergone knee surgery.

But in Theo Walcott, playing his first home game after returning to his boyhood club on loan from Everton, Adams and Armstrong, Southampton looked potent in attack.

Captain James Ward-Prowse pulled the strings in midfield while former Chelsea player Oriol Romeu was dangerous and only denied a goal by the woodwork.

“Che is amazing in the box. I think it was important to show that even without Danny we have the quality to score,” Hasenhüttl said.

“Theo’s workload was amazing too.”

Southampton’s manager Ralph Hasenhüttl (centre) has turned things around for the Saints since a 9-0 loss to Leicester in October 2019.(AP/Pool: Michael Steele)

Southampton is reaping the rewards for refusing to panic after the debacle against Leicester.

The thrashing by the Foxes in late October 2019 left Southampton in the relegation zone in 18th place, 17 points adrift of then-league leaders Liverpool.

But the side that for much of last season looked to be heading for relegation — recovering to finish 11th — the Saints now appear capable of challenging for a European spot.

“We’ve invested so much in this time together,” Hasenhüttl said.

“Maybe playing without fans has helped us because there is a lack of stress. Now we are playing a complete game.”

Steve Bruce’s Newcastle side had also started the season reasonably well and could have gone into the top five with a win but they were ineffective at St Mary’s.

“The goals we gave away probably summed up our evening. We gave it away far too cheaply and far too often,” he said.

“The best team won. We didn’t do enough against a very good Southampton team.”

Reuters/ABC



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AFL 2020, AFL trades, Melbourne, Clayton Oliver, Glen Bartlett, Simon Goodwin, Melbourne results, AFL ladder, Max Gawn


Melbourne chairman Glen Bartlett has hailed the club’s list as top four quality and forecast a host of football department changes in the coming weeks.

But these changes won’t include Simon Goodwin, who Bartlett believes is the right man to lead the club to its 13th flag.

Bartlett opened up in a revealing interview with Nita Rao and Kiran Iyer of the Deeluded podcast, declaring finals a non-negotiable in 2021 and pouring cold water on Clayton Oliver trade rumours.

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Grand Final

Demons chief executive Gary Pert is finalising his “deep dive” internal review, which is expected to recommend key adjustments within the coaching ranks.



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