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Borrow Up To 95% on Your First Home Purchase

It appears the Federal Government will come through in assisting First Home Buyers in Australia get into their first home quicker through the new First Home Loan Deposit Scheme (FHLDS), which launches in January 2020.

The FHLDS will allow first home buyers earning less than $125,000 individually, or $200,000 for couples, to apply for a loan with a deposit as little as 5% of the property price.  Under the scheme the Government will guarantee the remaining 15% of the deposit for properties priced under $475,000 in Queensland capital cities and $400,000 in the rest of the state (Each state will have their own designated price caps on properties). This means, that First Home Buyers under this scheme will no longer be required to pay for Lenders Mortgage Insurance (LMI).

The scheme will be administered by the National Housing Finance and Investment Corporation (NHFIC), meaning prospective First Home Buyers will need to lodge an application to be considered.  The initial launch of the scheme has a budget capped at $500 million. Under the proposal, Finance Minister Mathias Cormann suggested that no specific number of guarantees will be allocated per jurisdiction and that approvals will be on a first in best dressed basis.

So, what does all of this mean to First Home Buyers?

Well its great news!

Providing you can qualify, and your application is selected you could be able to purchase your First Home quicker and without the large cost of LMI.

Without this scheme, a First Home Buyer with only a 5% deposit would need to pay LMI. This can be a costly expense that can be either paid for upfront or capitalised into the loan. The cost of LMI is a sliding scale based on different variables, but essentially adds thousands of dollars to the cost of the purchase.

Under the new Government First Home Loan Deposit Scheme, the Government will guarantee a First Home Buyers Loan with a lender, which means you will no longer need to pay for LMI.

What lenders will be involved in the scheme and a few other details are still pending, but it is worthwhile for First Home Buyers to keep up to date on developments that could get you into your first home much quicker.

To keep receiving information on how you can benefit from this opportunity and buy your first home quicker, take a minute to join our First Home Buyers Club on the adjacent blue form.

Purchasing your first home can certainly be exciting but obtaining a Home Loan for your First Home can be challenging and daunting, which is why our Financial Brokers are trained to eliminate the stress for you and walk you through the process step by step.

First Home Buyers may be eligible to receive the First Home Owners Grant and may also be eligible for stamp duty concessions.

Whether you are ready to purchase your First Home or if you have started discussions with your partner or family about purchasing your First Home, then you will certainly benefit from our advice on how to obtain the right loan for you.

As your broker we get paid from the lender once the loan is settled, therefore our service to you is completely FREE.

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YOU’RE IN GOOD HANDS – We understand the challenge of purchasing your First Home and work for you to simplify the process.

First Home Owner Couple Dreaming

Make an Online Application and See If You Qualify for A Loan

We have been working with Daniel and the team at Brisbane Home Loans for the purchase of our first home, being first home buyers it has been great having the knowledge of Daniel & the team at Brisbane Home Loans to support us. We can’t thank them enough for their support and making themselves available to answer all of our questions. I’d highly recommend Brisbane Home Loans.

Christina Perry

Being Our First Home It Was Great Having The Knowledge of Daniel & The team at Brisbane Home


Important Factors In Preparing Your Deposit

Demonstrating to your lender that you have a good savings history is fundamental and something that should be considered early when deciding to purchase a your first home.  Resulting from the Royal Commission on banking, the requirements for a first home loan have become more difficult, which is why First Home Buyers need to plan for their first home loan at least 12 months in advance.

Brisbane Home Loans Financial Specialists are happy to assist you in establishing a savings plan in preparation for a First Home Loan at a later date.

The amount of deposit available for your First Home is really important when it comes to financing.  Your savings, will influence the type of loan you can get.

Most lender will require a minimum of 5% deposit.  Lenders like to see this in your bank account and usually for a period of at least 3 months.

Often, First Home Buyers, will seek their parent’s assistance in purchasing their first home.  Their help can be in terms of assistance with the initial deposit, alternatively they can act as a Guarantor on the Loan. As a Guarantor, your parents equity in their personal or investment property can act as security against your new home.

First Home Buyers Love Us Because We Fight Hard For Your First Loan

Purchasing your first home will be exciting and possibly daunting at the same time, however it does not need to be so. Our Finance specialists have years of experience in guiding first home buyers. We can assist in preparing your first home buyers grant applications and identify a loan that suits your deposit and income levels.

Below is checklist which will assist you in understanding if you meet the basic requirements for a First Home Buyers Grant.

 

  1. Are you an Australian citizen or permanent resident, or are you applying with someone who is an Australian citizen or permanent resident?
  2. Neither you nor your spouse have previously owned a property in Australia
  3. You’re building or buying a new home
  4. The value of the home you are buying, or building is under $750,000

This information is indicative only. Please speak to our representatives for further information.

In addition to a First Home Grant, you may also be entitled to a reduction in the amount of stamp duty you will need to pay.

The link below allows you to calculate the amount of your First Home Grant and the amount of duty owed.

Go To The State Government Calculator

Simply download the form and submit. Our consultants are more than happy to assist you in preparing and submitting the application form.

Download Form

Our Guarantee

Fast, Efficient Service

Our Finance Specialists understand that when purchasing a property there is little time to waste in finding the right home loan.

We guarantee an appointment within 48 hours of contacting our office if needed.

We can arrange an appointment in our office, your office, your home or a convenient coffee shop at a time which is convenient to you.  If necessary we can take instructions over the telephone or organise a video conference.

Most importantly we will work quickly to assist you.

CONFUSED BY WHAT YOU WILL NEED TO BUY YOUR FIRST HOME?

A critical factor that can assist you with your First Home Loan is your Credit Score. Lenders will closely review your spend over 12 months as part of your loan application. 

OUR SERVICE IS FREE TO YOU – We are paid a commission by the Mortgage Lending Institution which we fully disclose to you. Our job is to take the hassle out of finding the right loan.

Types Of Home Loans You Can Access

Financial Adviser Blue Shirt

A low variable interest, no frill Home Loan with generally cheaper rates because there are very few features and usually do not offer a cheque book, Bpay or an ATM card.

They will usually allow you to make extra payments, cutting the length of your mortgage.

The definition of ‘basic’ can vary between Lenders so it is important to check individual features.

Interest rates go up and down, generally in line with the official rate set by the Reserve Bank of Australia. Can be ideal for First Home Buyers and Owner-occupiers.

We have been working with Daniel and the team at Brisbane Home Loans for the purchase of our first home, being first home buyers it has been great having the knowledge of Daniel & the team at Brisbane Home Loans to support us. We can’t thank them enough for their support and making themselves available to answer all of our questions. I’d highly recommend Brisbane Home Loans.

Christina Perry

Being Our First Home It Was Great Having The Knowledge of Daniel & The team at Brisbane Home

Standard variable loans are a very popular product with up to half of borrowers choosing this structure.

The variable rate loan offers more features and flexibility than the basic or ‘no frills’ loan, so the rate is usually slightly higher.

Fixed rate loans are set at a fixed rate for a specified period – usually one to five years.

The advantage of allowing you to organise your finances and repayments without the risk of rising interest rates is offset by the disadvantage of not benefiting from a drop in rates.

It also locks you in to that loan for the fixed period unless you are prepared to pay potentially considerable exit fees.

Financial Adviser Blue Shirt
Financial Adviser Blue Shirt

A full suite of services loan where you pay an annual fee for interest rate discounts and further discounts on extra services.

This may include an offset account, waiving the annual fee on your credit card.  Some Lenders will even offer discounts on personal loan rates and other products.

Packages attract an annual fee of about $350 to $800 but the fee is only payable once, regardless of how many loans you have.

Packages are generally more suitable for those borrowing more than $250 000, those who wish to avail themselves of many of the services on offer by the Lender and borrowers who have a significant amount of cash to put in to an offset account, and only pay the one fee annually.

Finance & Mortgage Brokers You Can Trust & Rely On.

Our motto is simple “Clients come first.” Whether you are a first home buyer or an experienced property investor, our team of first home loan brokers in Brisbane will go out of their way to get you a deal that offers you the best rate at the lowest possible cost.

Why Clients Choose Brisbane Home Loans?

  • Impressive Customer Ratings
  • We Do All The Hard Work for You
  • Our Experienced Mortgage Brokers Get You Rates Lower Than What is Published by Lenders
  • We Work For You Not The Lender
  • We Can Meet You Wherever It is Convenient To You

Talk to Our Mortgage Experts to See How We Can Help You!

At Brisbane Home Loans, we guarantee 100% transparency and clear communication. From the moment you call us, we will work round the clock and ensure your home loan application is prepared, lodged and approved quickly and effortlessly. Call us at 3889 9250 and put us to the test.

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Mortgage Broker New Loan

A low variable interest, no frill Home Loan with generally cheaper rates because there are very few features and usually do not offer a cheque book, Bpay or an ATM card.

They will usually allow you to make extra payments, cutting the length of your mortgage.

The definition of ‘basic’ can vary between Lenders so it is important to check individual features.

Interest rates go up and down, generally in line with the official rate set by the Reserve Bank of Australia. Can be ideal for First Home Buyers and Owner-occupiers.

We have been working with Daniel and the team at Brisbane Home Loans for the purchase of our first home, being first home buyers it has been great having the knowledge of Daniel & the team at Brisbane Home Loans to support us. We can’t thank them enough for their support and making themselves available to answer all of our questions. I’d highly recommend Brisbane Home Loans.

Christina Perry

Being Our First Home It Was Great Having The Knowledge of Daniel & The team at Brisbane Home

Standard variable loans are a very popular product with up to half of borrowers choosing this structure.

The variable rate loan offers more features and flexibility than the basic or ‘no frills’ loan, so the rate is usually slightly higher.

Fixed rate loans are set at a fixed rate for a specified period – usually one to five years.

The advantage of allowing you to organise your finances and repayments without the risk of rising interest rates is offset by the disadvantage of not benefiting from a drop in rates.

It also locks you in to that loan for the fixed period unless you are prepared to pay potentially considerable exit fees.

Financial Adviser Blue Shirt
Financial Adviser Blue Shirt

A full suite of services loan where you pay an annual fee for interest rate discounts and further discounts on extra services.

This may include an offset account, waiving the annual fee on your credit card.  Some Lenders will even offer discounts on personal loan rates and other products.

Packages attract an annual fee of about $350 to $800 but the fee is only payable once, regardless of how many loans you have.

Packages are generally more suitable for those borrowing more than $250 000, those who wish to avail themselves of many of the services on offer by the Lender and borrowers who have a significant amount of cash to put in to an offset account, and only pay the one fee annually.

We Offer More Choice to Our Clients

In this day and age of diversity and choice, why limit yourself to the options being provided by one lender?

Brisbane Home Loans has access to over 40 lenders, with more than 100 different products that could better suit your needs.

We don’t just focus on one bank to resolve your Financing needs. Our approach is to shop around our panel of lenders, secure the finance you need and ensure it is the best possible deal for your specific circumstance.

Brisbane Home Loans Finance Specialist have the expertise and the proven track record to advise you on your Finance needs.

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"Good Ol Fashion Service" - Every Day

Why Choose Brisbane Home Loans

You're In Good Hands

Brisbane Home Loans is all about good old fashioned personal service without exception.

We Find The Right Deal For You

We take the time to listen to your needs and then search the market for the best products that satisfies your needs at the lowest possible cost to you.

Ongoing Comittment

We continue to work for you after the deal is finished, ensuring that we asess any new offers that become available which may improve your current deal.

One Stop Lending

We give our clients access to Personal Loans, Home Loans, Investment Loans and Commercial Loans.  You always only deal with on person for all your lending services.

How We Work With Our Clients

We can meet clients in our office, in their home, their office or the local coffee shop. Our initial interview will helps us understand the clients needs in the short, medium and long term so that we can find the best possible lender for your loan.

The world of financing continues to be more and more complicated. Our Lenders have experience in finding the right product to meet the specific needs of each of our clients.  During this phase, we identify two to three options that may be suitable.

Our Lending Specialists will present to you a number of options available outlining  the differences, benefits and downfalls of each option presented. Our preferred option and reasons why, we consider this the best fit for you will be clearly explained.

Our Lending Specialists work with our clients to have all documentsation signed, submitted to the lending institution and processed through to approval.

We pride outselves on client service which is why our Lending Specialists establish a reasonable review timeframe where they touch base with our Clients to ensure everything is working as planned.  During this review, the client is made aware of any new financing options in the market.

Brisbane Home Loans is not about one off loans. We truly care about our clients, which is why we stand by their side beyond the completion of the loan.

What Does A Mortgage Broker Do

Listen and Evaluate Your Needs
Calculate How Much You Can Borrow
Compare Options Available to You in The Market
Provide You Expert Advice
Do All The Leg Work
Obtain Pre-Approval For You
Create A Plan For You To Ensure Your Always Getting The Best Deal
Most Importantly We Provide This at No Cost To You

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