First Home Buyers
HOW I HAVE HELPED MY CLIENTS
- First Home Buyers – Limited Genuine Savings
A family with 3 children was struggling to save their minimum deposit. Although their parents were providing a non-repayable gift, the applicants still needed to demonstrate “willingness to pay”. They were able to apply to for a loan from a lender who considered their favourable rental history.
- First Home Buyers – Family Guarantee
A young couple had saved a substantial deposit, although not enough to avoid LMI. His parents stood as guarantors by offering their property as a second security to the lender. Once the young buyers have sufficient equity in their property, the limited liability guarantee can be lifted and the parents' property released.
- Building A New Home
Many of my clients have decided to build their dream homes. It is critical to ensure that building contracts and plans are available in time for finance to be approved before the land is due for settlement – this is especially important for first home buyers on limited budgets.