Our client is a PAYG contractor who has been working in this role for over 5 years. She jointly owns an investment property with her two sisters and still lives at home with her parents.
Having an established career, she was at a life stage where she wanted to have a place where she could call her own and build her family. Even though she had experienced previous Mortgage Brokers before, she sought a friend’s referral who can provide guidance on her property budget as she only had a small deposit available.
We presented the client with the following deposit options:
From the options above and further discussion with her parents, we decided that Family Guarantee would be the most suitable. From there, we spoke with the parents to ensure they understood exactly what a family guarantee means and all the risks that are associated with it before proceeding with a loan application.
Pre-approval was instantly achieved with the desired lender and the client went off searching for her perfect home.
We kept in close contact with the client and it’s important we did that because it turned out she found a property which did not meet the requirements for the lender we had pre-approved.
A new assessment was shared with the client and we were able to promptly decide on a new lender, and achieved an approval after one touch.
The client was able to settle on this new home and make it their cosy new place.
We also received a wonderful testimonial from our client who was really appreciative of all the work and education we had helped them with.