OUR SOLUTION

They became frustrated that their landlords were either constantly increasing their rent or only offering short term leases which impacted the clients with increased moving costs and having to find a new home to rent.

During this time, they were attempting to save a full deposit to avoid the additional cost of lenders mortgage insurance, however after 12 months of seeking to enter the property market and the ongoing increases in property costs and cost of living, this seemed out of reach.

We explained the benefits of lenders mortgage insurance and although there is the additional cost, it could get them into their home sooner. We helped our clients get out of the rental market and they purchased their new home with a limited deposit by taking advantage of lenders mortgage insurance.

This enabled them to purchase in an increasing market and benefit from the ongoing property price increases. Within 24 months of settlement, the client’s property increased in net value (after the cost of LMI) by 16%. Should the client have waited, they would have missed out on their ideal property.