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With the media dominated by talk of housing affordability, how are first home buyers faring right now?
Owner-occupier first home buyers signed up for 8,239 home loans in June, according to the Australian Bureau of Statistics. That was a 12.2% decline from the year before and a 40.1% decline from two years earlier.
High property prices can make it hard to save up a 20% deposit β so one potential solution is to enter the market with a smaller deposit. That can be done by paying lenderβs mortgage insurance, accessing the federal governmentβs Home Guarantee Scheme or using a family guarantee loan.
Your mortgage broker can explain your options to you. You may be closer to home ownership than you realise.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donβt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weβll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
