gold, page-511

... This John Bolton Of Sqirrel??? Touter & spruiker along the line of your various gold nemesis except in Asian? (Auckland) Real Estate... Seems it's not enough for "independent people in their thirties" to obtain a loan without bringing their parents hard earned equity to the table...

...What's next for Aucklanders, roping the neighbour (s), street, suburb..... ad infinitum... novel but shouldn't work... but hey, I'm a fisherman, gatherer of those dumb enough to swim into my net...

John Bolt on
"Reserve Bank restrictions on banks' low-deposit home loans has seen a rise in equity-rich parents providing guarantees to help their kids get a home loan. The restrictions, brought in late last year, were designed to slow banks' lending to people with less than a 20 per cent deposit and hence stop banks' balance sheets getting too risky.

As a result personal guarantees have become an important mechanism for people to get into a house when they only have a small deposit as they provide a way around the Reserve Bank rules.

Most independent people in their thirties react with horror when it's suggested to them that their parents should guarantee their loans, said Bolton, until they hear how much it can save them.

A couple wanting to buy a $600,000 home who only have a $50,000 deposit may be able to persuade a bank to lend to them, but it'll come at a price."