In today’s Flash Finance Update, I introduce to you one of our clients, Will Speirs, who was a first home buyer with very little deposit. Will shares how we ended up helping him manage his loan and the process that he went through.
We are also excited to announce our upcoming webinar called How to Buy Your First Property in 2023. Click below for more details and to register for this event.
Additionally, do check out below this lovely photo shared by our clients Dave and Jo, featuring their new home!
As always, if we can be of any assistance and you would like a one-on-one consultation for any loan type, please reach out and book a time here.
Dave and Jo showing their lovely home!
Transcription
Louise: Hey everyone, it’s Louise for this week’s Flash Friday Finance Update, and I am really excited to introduce you Will Speirs. Good day, Will.
Will: Hello, Louise! How are you going?
Louise: Great. Thank you so much. You are very kind to join us and share your experiences. I’m really excited to share with people your experience about, particularly, guarantor loans.
Louise: So very short while ago, Will was a first home buyer. Very little deposit. And Will, do you wanna tell people how we ended up helping you and manage this loan and process? Will: Yeah, sure. Coming into the end of 2019, I’d just taken on a new role and got a little bit of a promotion. It was kind of time to start thinking about buying a house.
Will: So, I got in touch with Louise just to talk about options and stuff, and as she mentioned, I was pretty low on the deposit side at the time cause it was something that I’d only really just started thinking about. And I thought, I’ll talk to Louise and she’ll say, oh, go ahead, go away and save 5 to 10% and come back, see me when you’re done. But then it just kind of turned out that Louise knew about this thing called guarantor loans where they were able to use the title from an investment property or one of the investment properties that my parents had that kind of available at the time and they were able to use that as a security against the loan to cover the value of the deposit. It was a bit of a strange experience where I ended up with two different loans, where one was to the value of what my parents’ property was offsetting, and then, the second loan for the other value of the 80% of the loan.
Read the full transcription here.
