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Welcome First Home Buyer! This is a definitive guide that will help you understand and navigate the increasingly complex road to home ownership in Australia.   Download the Guide Get in touch Location Space & Co, Rouse Hill Town Centre, Rouse Hill NSW 2155 Soho Village, Point Cook VIC 3030 Our Hours MON-FRI 09:00 – […]

How to Have a Financially Stress Free Christmas

“Jingle bells, jingle bells, jingle all the way.” Oh how I miss Christmas in the Philippines! Its that time of the year again when we find ourselves spending way more than we had planned.  It’s so easy to get into the festive mood with so many parties with family and friends before the big day […]

What is Non Genuine Savings with Rental History?

In cases where loan to value ratio is above 90%, lenders want to see that the 5% deposit has been held for at least 3 months in a bank account, accumulated over a minimum of 3 months or received and held for 3 months. This is referred to as genuine savings. If you are one […]

What Counts as Genuine Savings in a Loan Application?

If you apply for a home loan, particularly if the loan is for more than 80% of a property’s value, you’ll more than likely have to prove to lenders that you have a satisfactory amount of savings. This is to demonstrate your ability to funnel a portion of your income into repayments. Although it can differ, […]

The NSW Housing Affordability Package for First Home Buyers

In 2017, the NSW Government announced a new package of measures that will help first home buyers get into the market. The package aims to address the difficulty that first home buyers face in entering the property market. Abolition of stamp duty on all homes up to $650,000 and stamp duty relief for homes up to […]

How Do Lenders Assess Your Home Loan Application?

You are a first home buyer and you don’t know where to start.  You’re doing your research and would like to understand the home loan application process.  Your primary goal is to make sure that when you begin the application with your broker, the probability of getting your loan approved is high. Knowing how lenders will […]

Case Studies of First Home Buyers in Melbourne

First home buyers with 5% genuine savings buying north of Melbourne Our first case is that of first home buyers purchasing a block of land and building a 2 story home. They have saved $10,000 in the last 3 months.  They saw this opportunity to purchase close to their place of work in Kilmore, a […]

7 Top Tips For First Home Buyers

Buying a home has always been difficult for first home buyers but with COVID-19, getting a home loan is much harder.  In the past, first home buyers face hurdles such as rising house prices, lack of deposit and strict lending policies. But in this pandemic times, buyers face more challenges and risks. Property economists are […]