Specialising in the bank of Mum and Dad

You want to help your child buy a home, but….how?

 

You want to help your son or daughter buy a home - but what’s the best way? Contributing to the purchase price by making a gift probably feels good. Making a loan probably feels transactional. Taking a mortgage or a caveat might feel almost adversarial. Life isn’t always simple. What if….

  • the relationship between your child and their partner breaks down early on? Do you really want to see their partner get perhaps half (or even more) of the amount you assisted them with?

  • their relationship breaks down later, when there are children involved? Do you really want to get caught up in arguments about how you provided your assistance as part of an acrimonious break-up?

  • you have other children who you’ve already helped - or would like to help in the future - and you’re not sure how to ensure they are all treated fairly?

  • you have a blended family, with disparities in age and financial needs between siblings and step-siblings?

Matthew Allchurch

Your bank of Mum and Dad specialist

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Matt Allchurch is the principal of Allchurch Legal.

Matt has over 25 years’ experience as a banking and finance partner in leading Australian law firms (Allens, Clayton Utz, Johnson Winter & Slattery), and for more than 15 years was ranked by Chambers Global and other similar publications as one of Australia's leading lawyers. He was the Group General Counsel Australia and New Zealand of Allianz Insurance and has also worked as general counsel with start-ups and smaller companies.

Over the last few years, Matt has advised parents seeking to assist their children buy a home, and has developed significant expertise in dealing with the often complex and conflicting legal issues which can arise with “bank of Mum and Dad” loans.

Matt also understands the importance and sensitivity of family dynamics, and the need for clear and empathetic guidance to help you ensure that all parties - including siblings or step-siblings not involved in the particular transaction - understand the issues involved and feel heard.

Why Allchurch Legal?

Allchurch Legal provides a highly specialist service which delivers peace of mind for you and your family through:

  • A top-tier approach to an issue typically dealt with by non-specialists, which recognises the unusually high risks of challenge to Bank of Mum and Dad transactions.

  • Detailed advice and guidance tailored to your circumstances, enabling you to make fully informed decisions.

  • Solutions which:

    • reconcile the often competing legal considerations of different legal areas - banking and finance. property law, family law, estate planning law, tax and banking regulatory issues;

    • give your child the funding assistance they need; and

    • protect your interests (and those of your child) if things subsequently don’t go as expected.

  • Simple, streamlined documentation and execution.

  • An empathetic approach, which recognises the importance and sensitivity of family dynamics, and assists you in ensuring that your child, their partner and any siblings understand the nature and effect of the transaction.

  • Value - we have a simple and transparent basis of charging, with fixed fees for most transactions. If you need a more complex or bespoke arrangement, we will provide clear cost estimates based on an agreed hourly charge-out rate.

Matt's approach

 

  • Personable, easy to deal with

  • Sees the big picture – works with you to understand not just the property transaction but the family dynamics and related issues as to estate planning and equity among siblings

  • Concise and clear

  • Efficient and timely

  • Clear, precisely drafted documents

Find out more

Contact

Email: matthew.allchurch@allchurchlegal.com.au

Mobile: 0405 131 793