Have you ever had a client who was struggling to get a home loan because they didn’t have enough of a deposit saved? Or wanted to avoid paying Lenders Mortgage Insurance (LMI)?
Guarantor Loans could be an accessible option!
A Guarantor loan is where a family member ( usually a parent ) offers part of their property as security to help the borrower purchase a property. This can assist with;
✅Buying with little to no deposit
✅Avoid costly Lenders Mortgage Insurance premiums
✅Get their foot in the property market earlier
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Who can be a guarantor? Usually parents, but it can also be other family memebers or close assosciates with suitable security
How does it work?
Click below to watch the video and learn more;
YOUR FIRST HOME BUYERS GUIDE
Crafted by your local Mortgage Brokers
WHO IS MY LENDING SPECIALIST?
At My Lending Specialist, we are more than just mortgage brokers — we are your local trusted partners in achieving homeownership.
With a deep understanding of the lending market and a passion for helping first-home buyers, we provide tailored finance solutions to suit your unique needs.
Our team is dedicated to making the loan process simple, stress free, and transparent, ensuring you feel confident every step of the way.
Whether you’re purchasing your first home, refinancing, or investing, we take the time to find the right loan for you — so you can focus on what matters most, turning your dream home into a reality!
WHY USE A MORTGAGE BROKER?
At My Lending Specialist, we simplify the home loan process, ensuring you find the best mortgage solution without the hassle.
THINKING ABOUT BUYING?
Buying Your First Home? Let’s Make It Happen!
Buying your first home is an exciting milestone, but it can also feel overwhelming. That’s why we’ve created this comprehensive guide—to simplify the process and help you take confident steps toward homeownership.
What to Consider Before You Buy
NSW GOVERNMENT SCHEMES
First-home buyers in New South Wales (NSW) have access to several government programs to make purchasing a home more achievable.
Below we have included a brief overview:
First Home Owner Grant (FHOG)
First Home Buyers Assistance Scheme (FHBAS)
Home Guarantee Scheme (HGS)
These initiatives aim to reduce costs and financial barriers, making homeownership more accessible for first-home buyers in NSW.
READY TO BUY
You’ve done the groundwork, and now it’s time to take the next step toward homeownership. Being prepared at this stage will help you buy with confidence and avoid unexpected surprises.
Get Pre-Approval – Work with your broker to confirm your borrowing power and to become a serious buyer in the market.
Research the Market – Compare recent sales, check suburb trends, and future developments. Talking to your local agents is valuable.
Know the Buying Process – Understand the difference between private sales and auctions and what each involves.
Inspect the Property – A building and pest inspection can reveal potential issues.
Review Contracts – Have a solicitor or conveyancer review the contract of sale before signing.
Budget for Additional Costs – Stamp duty, legal fees, loan fees, and insurance should all be factored in.
BUYING YOUR PROPERTY
Making an Offer
If you’re buying through auction, you’ll need to register as a bidder and have your deposit ready. If you place the winning bid, contracts are signed, and a deposit is paid on the same day.
For a private sale, you’ll negotiate the price with the seller, usually through the real estate agent. Once an agreement is reached, contracts are signed, and a deposit is paid, typically within a few days.
Finalising Your Finances
After your offer is accepted, the next step is securing final loan approval. Your lender will complete a property valuation, and we’ll guide you through the final paperwork to ensure everything is in place before settlement.
Getting Ready for Settlement
The period between signing the contract and settlement is your chance to finalise all details. During this time, you should:
Settlement Day
On settlement day, legal and financial representative complete the transfer of ownership, and once everything is finalised, you’ll receive the keys to your new home. You’re Officially a Homeowner!
NEED EXPERT GUIDANCE?
LET’S TALK!
At My Lending Specialist, our team of local experts is dedicated to making the home-buying process simple, stress-free, and tailored to you. Whether you need help navigating government grants, loan pre-approvals, or understanding your borrowing power, we’ll provide the support and advice you need to make informed decisions.
DANYELLE FRANK & DAMIEN AGOSTINI
We’d love to hear from you! Whether you have questions or need
assistance, we’re here to help.
If you would like a printed version of this guide or would like to share this with someone looking to get into the property market, please click the link below for a pdf version.
Ever had a client who gave up on buying because they didn’t have a 20% deposit…or couldn’t afford the LMI bill? Let’s clarify what that actually means.
Lenders Mortgage Insurance (LMI) is an insurance policy that the borrower pays when they have less than a 20% deposit. It protects the lender, not the borrower — and it can cost tens of thousands of dollars, depending on the loan size and deposit.
There are a few ways we can avoid paying lenders mortgages insurance, the most common are below;
1. First Home Guarantee – Not Just for First-Time Buyers
2. Single Parent Guarantee – 2% Deposit, No LMI
3. Professional LMI Waivers – Who’s Included? Many banks offer LMI waivers up to 90–95% LVR for select professionals.
Some of the eligible occupations include (varies by lender):
4. Pepper Money’s New Policy – 90% No LMI
Pepper has just rolled out a 90% LVR loan with no LMI for most borrowers — a solid solution for people with good income and clean credit who might not tick every “bank” box.
Click below to watch the video and learn more;
103 Banna Avenue,
Griffith NSW 2680
P | 02 6964 4690
info@mylendingspecialist.com.au
Office hours: 9:00 – 5:30
