Hello..we are a family of four soon to set off on our 457 visas. I have been told (by financial adviser) that if we take a private loan from parents this may adversely affect an application for Permanent Residency later on. Does anyone know if this is correct? Any help appreciated!

My immediate thoughts are that the only time this could affect a permanent residency visa application is if your net personal assets were to be a factor in the application.

Indeed, if the private loan is repaying another personal loan/borrowing, or is being used to buy a non depreciating asset (is there such a thing these days?) your net asset position is unchanged, so I would be asking your financial advisor to be more precise with his/her assertions.

Maybe consider a different advisor that understands the impact of your financial affairs on the visa application process ...?

Best regards.

Many thanks for your advice Alan.I did feel a bit uneasy about the advice our financial adviser was giving us.