My experience buying my first home with Beyond Bank
Thank you to one of our customers, who has let us know of her experience buying her first home with us.
I recently purchased my first home – a two bedroom unit, twelve kilometres west of Adelaide CBD, and in close proximity to a shopping centre, a gym, public transport and beaches, all of which are important to me.
Like most people, I started my conversation with the bank before I started looking for my new home. I specifically wanted to meet someone after hours and so I contacted Ian Berryman, Beyond Bank’s Mobile Relationship Manager, to obtain the best advice on how I was going to enter the real estate market.
Although I hadn’t saved a full deposit, Ian worked out a way to increase my buying power. And with the assistance of my parents, I qualified for a Parent Equity Home Loan, which meant my parents were able to help me by using their property as security against my purchase.
The benefits of Ian’s advice and the parent equity home loan were such a saving – almost $20,000, as I didn’t have to pay mortgage insurance. I also found out that I was eligible for the first home owners grant – which at the time of my purchase was $5,000.
Ian also offered me a property report so I could see how much the unit I was interested in purchasing had previously sold for, as well information on other properties in the area and their selling prices.
Being armed with this knowledge helped me make my decision and after viewing the property twice, I made the owners an offer, and moved into my beachside apartment in late February.
I am really grateful to Ian for all his help and the fact that he saved me thousands. He couldn’t have made this any easier and I couldn’t be happier!
Here are my top tips for first home buyers:
- Speak to your local Beyond Bank Branch Manager or Mobile Lender first;
- Check with the Office of State Revenue in your local State to see what you are eligible for;
- Work together with Beyond Bank to find the right loan that suits your circumstances;
- Start searching and get a free report on the house that catches your eye;
- Make an offer; and
- Let Beyond Bank manage the rest.
For more information on becoming a home-owner or on any of our home loan packages, visit us at any branch or give us a call on 13 25 85.