We were pleased to help a couple purchase their first home with the assistance of a Guarantor Loan for First Home Buyers.
They had done well to save a deposit but just fell short of covering the stamp duty plus 20% of the purchase price. As explained in How much Deposit do I Need? In most cases a loan amount that exceeds 80% of the value of the property will incur Lenders Mortgage Insurance. This can be very expensive to the borrower, and can limit their ability to successfully apply for a loan.
Kindly enough the client’s parents put up their property as guarantor, which enabled the client to satisfy the requirements for a Guarantor loan, see No Deposit Loans.
We obtained a pre-approval first to enable the clients to look around for property with confidence. Once a property was sourced we had some hiccups from both the Titles Office and the Lender (When Things go Wrong) but we were able to work on behalf of the client and keep them informed to ensure everything was finally ready for settlement.
We are pleased to help these clients into their first property and look forward to working with them in future.
Scott has been amazing in helping us purchase our first home! We truly couldn’t have done it without him. His extensive knowledge and advice was invaluable for us attaining our home loan. We had a few hiccups along the way with the Titles office and the lender, Scott always kept us informed of the progress and acted on our behalf, which gave us great confidence that everything would be okay.
We cannot thank Scott enough for helping us purchasing our first home. We would highly recommend his services to anyone who is even thinking of purchasing a home. Scott gave us great guidance and advice from the moment we let him know we were considering purchasing, right through the looking process, and up until finally the settlement of our home.
So if you are looking to buy your first property and think Guarantor Loans maybe an option for you. CONTACT US on 0407 349 246 or complete the form below and we’ll get in touch with you.
