First Home Buyers Secure Brisbane Townhouse with 24-Hour Turnaround
THE CLIENT:
Gabrielle and her spouse are a Brisbane-based couple taking their first step onto the property ladder. Gabrielle works as a Talent Acquisition Advisor, and together they were ready to purchase their first home as a couple.
THE CHALLENGE:
Like many first home buyers, Gabrielle and her partner had hoped to save a 20% deposit to avoid paying Lender's Mortgage Insurance. However, after watching the Brisbane housing market, they realised that waiting to hit that 20% mark could mean missing out on the home they actually wanted. They needed to weigh up the cost of LMI against the benefit of getting into the market sooner, and they had a tight 7-day finance deadline to meet.
OUR SOLUTION:
Matthew Evans worked closely with the couple to find a lender that charged LMI at the lower end of the scale, minimising the additional cost while still giving them the flexibility to borrow above 80% LVR. Macquarie came through with a variable rate loan featuring both an offset account and redraw facility. Crucially, they could also meet the tight settlement timeline without compromising on a competitive interest rate.
THE OUTCOME:
The couple secured their $751,500 townhouse with a loan of $670,952. From pre-approval to unconditional approval took just 24 hours, comfortably meeting their 7-day finance clause. They moved into their first home together with the financial flexibility they needed and without the stress they had feared.
CLIENT QUOTE:
"We can't rave enough about our experience dealing with Matt & Aleisha for our first home purchase. They were so patient at explaining everything to us and walking us through our options.
Everything was so straight forward, hassle and stress free from that perspective of buying a home."
KEY STATS:
- $751,500 townhouse purchased in Brisbane
- $670,952 loan secured with Macquarie
- 24-hour turnaround from pre-approval to unconditional
- 7-day finance clause
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