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When Perth-based physiotherapist Cecilia and her partner decided it was time to buy their first home they were underestimating their borrowing power but didn’t have enough time to research their options and the thousands of home loans out there.
Like so many prospective homebuyers, Cecilia’s situation wasn’t straightforward. Cecelia is a physiotherapist but her employment contract was not full-time, and her partner had been self-employed for less than two years. As a result, she didn’t think their borrowing power was strong.
“We were thinking of buying a cheaper home but then it kind of fell through because a lot of houses we looked at weren’t that great,” says Cecilia.
“We were time-poor. Working full-time, my hours were 9am to 6pm and it’s very hard to get into banks after that time. We thought going through a mortgage broker would help us eliminate chasing around banks.”
Upon a friend’s recommendation, Cecilia contacted Lendi. The Lendi platform and advice from Home Loan Specialist, Mike, helped Cecilia and her partner clarify their position and the pathways available to them.
“It provided us with options...it was great. Really, really great.” Mike found a home loan option for medical professionals that suited their specific needs and meant that they could buy a home with a 10% deposit and avoid paying Lenders Mortgage Insurance (LMI).
Once they found the right house, the process moved pretty fast.
“We put in an offer on the 8th of April and we chose to have a settlement day of the 28th of May. That was all done really quickly.”
It turns out that when it comes to getting a home loan, the process was easier than expected for Cecilia.
“There was no complication, it was just a really smooth process. Dealing with a Lendi broker and Lendi settlement agent, was just very easy because it was really efficient and professional.”
“I thought initially that purchasing my first home would be really stressful because I was concerned about not having enough [deposit] or being ineligible income-wise, transaction-wise or savings-wise. So Mike really took that stress away and organised it all for me and gave me a lot of options."
“It was so smooth...I would definitely purchase or go through Mike again.”
For Cecilia and her partner, they have settled into their Perth-starter home. "I think we will probably live here for the next five years or so, and then probably move on to a different area. We decided this would be a nice entry-level home, with a mortgage we can afford. For now, not to be in too much debt and then move on."
When it came to their home loan, they are happy with their deal. “We’re quite comfortable doing our repayments. It’s just been a really easy transition from renting to being in our first home. Overall, the whole process was really pleasant."
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The information in this post is general in nature and should not be considered personal or financial advice. You should always seek professional advice or assistance before making any financial decisions.
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