Using Pet Inheritances for Australian Home Loans

Ever dreamt of Fido or Fluffy helping you climb the property ladder? In Australia, while our furry (or feathered, or scaled) companions hold a special place in our hearts, they can’t directly contribute to your home loan deposit. Here’s why:

The Law Down Under:

In Australia, pets are legally considered property, not beneficiaries. This means they can’t inherit money in their own right. While you can specify in your Will that funds be left to someone to care for your pet, that person can’t then use those funds for a house deposit on your behalf.

What are your Options?

So, if your beloved budgie bequeaths you a small fortune, it can’t go straight towards your home loan. But fear not, there are still ways your pet-related windfall can contribute to your homeownership dreams:

  • Boost Savings: If the inheritance is significant, it can give your savings a welcome bump. This allows you to save for a larger deposit, potentially reducing the amount you need to borrow and lowering your monthly repayments.
  • Help with Upfront Costs: Moving house comes with a multitude of costs beyond the deposit. The inheritance can help cover things like stamp duty, legal fees, or even renovations to make your new place paw-fect (or purrfect!).
  • Financial Security: Owning a home is a big commitment. Having some extra cash from your pet inheritance can provide a financial safety net, helping you weather unexpected expenses or shortfalls down the line.


  • Paperwork is Key: No matter the source, lenders will require proof of funds for any deposit contributions. Ensure you have the necessary documentation to show the inheritance is yours.
  • Speak to a Mortgage Broker: A mortgage broker can help you understand your borrowing capacity and navigate the home loan application process. They can advise you on how best to utilise your pet inheritance within your overall financial picture.

The Takeaway:

While your loyal companion can’t directly hand you the keys to your dream home, a pet inheritance can still be a valuable stepping stone on your property journey. By using the funds strategically, you can put yourself in a stronger financial position to secure your own slice of the Australian dream.