Recently, we assisted a client in achieving their dream of saying goodbye to renting and welcome owning their own home without any cash savings for a deposit.
The client was seeking finance approval for 100% of the value of the home they wanted to purchase. We took the time to understand the client’s situation and asked the right questions to determine what other assets the client owned that we could use as security in place of a cash deposit.
The client made the decision to use their rural land as additional security to secure the full lending amount for their new home. We utilised our network of lenders to source a lender that would approve lending for 100% of the owner-occupier property at residential rates.
This allowed the client to secure their home loan for 100% of the purchase price and realise their dream of no longer renting, but owning their own home. In addition to this, the clients principle and interest loan repayments are less than their current rental repayments.