Unlike a bank we don't try to fit you into a box instead we asses your situation and use our industry knowledge to find the best loan product for your situation
Not always. Dependent on your circumstance you may be eligible for government schemes or be able to utilise family guarantee products instead.
What is a family guarantee?
A Family Guarantee allows your family, generally your parents, to provide their property as additional security to guarantee part of your home loan. This would allow you to borrow a high percentage of the property value (even up to 100%) without having to pay LMI.
What is mortgage insurance (LMI)?
LMI is a cost which you the borrower pay at settlement of your loan that protects the bank in case you default on the loan and they must sell the property at a loss. It is important to understand that LMI does not protect you if you get sick or lose your job. To avoid paying LMI you generally need to borrow less than 80% of the value of the property.
How much can I borrow?
There are numerous factors that influence how much you can borrow; your income, your financial commitments (credit cards/car loans/HECS etc.) & your living expenses. However, every bank will assess your borrowing capacity differently & that's why it pays to have us in your corner as we have access to over 40 different lenders.
