- By admin
- In Bee Savvy - Getting the most out of your loan, Home sweet home - first home owner finance
One of the hurdles many people face when trying to buy a home, is saving a deposit. This is a hurdle that can be very difficult for some people to get past. If you’ve found yourself in this situation. Don’t lose hope. There are options for getting a home loan with no deposit.
A home loan with no deposit…how?
Getting a home loan without a deposit might seem like an impossibility. But you actually can borrow 100% of a property value, if you have a guarantor. What does this mean? It means having a family member, or members, who own property, and are willing to use that property as a guarantee in your loan.
Isn’t using a guarantor risky and complicated?
Many people think that using a family member’s property as a guarantor is a risky or complicated process. Not so! At Bee Finance Savvy, we regularly help customers who don’t have a deposit, get a loan with the help of a guarantor, and we make it as simple as possible.
For example. we use lenders who only need an application from our customer – not their guarantor. This means that the loan will be based on your income only. Your relative won’t need to apply or prove their income.
To ensure peace of mind, we also make sure that the guarantee is limited to a minimal portion of the guarantor’s property. Usually, we can limit the guarantee to just 20% of the purchase price plus stamp duty.
We also carefully examine your circumstances and financials up front, before we even start an application for you. We carefully work out which lender is best for your situation. Therefore, we’re able to take you to the lender most likely to approve you. As a result, we avoid the perils of placing multiple applications with different lenders. Too many applications damage your credit rating, which can stop you from being approved.
This sounds really good – how do I apply?
Applying for a loan through Bee Finance Savvy is easy! Just talk to our broker Desiree! Desiree is located in Sydney’s Sutherland Shire. She’s an experienced broker, and works with clients Australia wide. You can call or text Desiree on 0455 131 937 or 1300 140 554. Desiree can also be reached at email@example.com . Desiree will give you an obligation free consultation, go over your information, and then advise you of your options.
If you’d like to hear from other customers Desiree has worked with, you can read our WOMO reviews. https://www.wordofmouth.com.au/reviews/bee-finance-savvy-miranda