How much deposit do I need?

There are various options available. Below is an explanation of different mortgage types.

100% loans are now very hard to get . They are available through the Welcome Home Loan product up to maximum purchase price of $200k. Qualifying criteria applies.

100% Finance is also available if there is equity in another property that can be used as security.

5% or greater deposit - This would be 5% of the purchase price or valuation whichever is the lesser.
eg. purchase is $300,000 so you will need $15,000. This can be savings or equity.

Security Loans - these are generally up to 70% of a properties value and are with non bank lenders. Interest rates are around 3% higher than banks and the loan term is short at up to 2 years.

A security loan can assist people who have equity in property and are unable to get bank finance. They can also assist in giving time to sell a property where payments may be in default

Loan qualifying assessment

For a quick assessment of your borrowing ability please click here

Getting a pre approved mortgage

We specialise in arranging pre approved finance for people. The advantage of a pre approval is that this can put you in the same position as a cash buyer and give you better negotiating ability when it comes to purchasing a property.

Once we have assessed your borrowing ability we can guide you through your options
We will require:

• completed application form
click to download
• 3 months bank statement on your income account
• 3 wage slips or financial accounts
• printout or statement of your own funds/deposit