Loan Scenario 2


First home buyers who have decent income but not enough deposit

Key Pointers: both clients have stable PAYG income however the deposit is not enough to pay for the free standing house they’d like to purchase. 

Bringing it Together (The Solution):

Suggested clients to seek guarantor options from parents or siblings to guarantee for the 20% while the clients are showing sufficient borrowing capacity to repay the 20% guaranteed amount as well as remaining 80% of the balance. It helps the first home buyer clients to secure a home sooner while avoiding lender’s mortgage insurance premium to the bank.