Balmain resident, Byron asks “I don’t have any genuine savings but my parents said they’d be willing to give me the 10% deposit required to purchase my own home. Is a gift acceptable as a deposit?” Thanks for the question Byron. This is most certainly a question that we get here often and one that…
Bella Vista resident, Kylie asks “I’ve just turned 30 and I’m interested in purchasing a property on the Central Coast, and wanted to know how much deposit is required before being eligible to apply for a home loan?” Thanks for the question Kylie. This would have to be one of the most frequently asked…
Neutral Bay resident, Kylie asks “What is cross collateralisation, and what exactly does it mean?” Great question Kylie. Cross collateralisation might sound confusing but it’s actually quite straight forward. Here’s a brief explanation to help you understand what it means and how it’s applied within the financial marketplace. Cross-collateralisation (also known as cross-securitisation) is when…
Campbelltown resident, Jason asks “I currently work as a chef in a small cafe and am interested in purchasing a property valued at $545,000 but don’t yet have a deposit. Is it possible to obtain a no deposit homeloan?” Thanks for the question Jason. It’s certainly one that we’re asked frequently here at Mortgage…
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