Having a family can be fulfilling for many families and such a blessing.
With an increase in divorce and separation, and a relatively new relationship trend of living in separate houses but being together financially or separately can mean the costs of raising a family are under the microscope by lenders.
You may be a step family who have decided to live in separate houses or you may co-parent better in different locations due to work commitments (eg FIFO or living in separate cities/countries). I’ve even seen families where one of the adults have returned to live back with their parents due to conditions such as autism or chronic health conditions which affects their mental health which requires a separate housing situation.
Sharing the costs of children can be a rather unique situation when it comes to applying for a loan depending upon the contributions from each parent.
While living separately does not mean your financial goals come to screaming halt nor mean you need to rent for the rest of your life, it can mean that we need to take into consideration your situation and how each parent contributes to the costs for the children.
If you have a situation you would like to discuss and would also like to look at buying your next property or investment property but find it a challenge for some lenders, please contact us to discuss
Mobile: 0403 211 361
Email: hello@georgefinancialservices.com.au