Buying Your First Home

Your first home is a major milestone and making the right investment choice not only involves finding the right property but also choosing the right loan from the best lender, which together, can help form the foundation on which to build assets for life.

When you first meet with your broker you’ll be asked a number of questions about your financial position. It's best to bring as much information as possible to the first meeting which, if possible, should include copies of pay slips as proof of income, bank statements as proof of savings, your tax file number, your driver’s licence and latest tax returns.

Coastal Lending Services specialise in making it as simple as possible for you by:

Working with you to help choose a home loan that is the most suitable for your needs.
Completing all the necessary documentation with you.
Running you through all the other costs that you are likely to incur like stamp duty, conveyancing fees and bank fees.
Helping you apply for the First Home Buyer’s Grant if you are eligible.
As part of the Partners in Wealth Group we are in the ideal position to ensure that all finances are in order

Lending Pre-Approval

If you haven't found the perfect home, Coastal Lending Services can arrange pre-approval; this will give you the peace of mind of knowing exactly how much you can borrow. In such a competitive housing market this will give you a head start on other purchasers and can even broaden your options to attend auctions.

First Home Incentives

As a first home buyer, you may qualify for government grants and incentives such as the First Home Owner's Grant (or FHOG). Coastal Lending Services can coordinate your grant submission and work with you to ensure you receive all that you're entitled to by any grant and incentive scheme.

The Real Costs of Owning a Home

Apart from stamp duty (also known as transfer duty) and Lenders Mortgage Insurance, there are a number of additional expenses you should consider when buying your next home. Costs include loan establishment fees, solicitor/conveyancing fees, building/council inspection, pest inspection, home and contents insurance, rates adjustments, moving expenses and utility connections.

Deposit

Most lenders will require a minimum deposit of 5% which you should demonstrate as being genuinely saved over at least a 6 month period. Some lenders will permit a genuinely saved deposit of 3% and allow the remaining funds to be covered by a gift, a lump sum payment or the First Home Owners Grant.

Your Investment Team

As Coastal Lending Services are part of the Partners in Wealth Financial Services Group, our team of qualified Financial Planners can assist you in not only making sure that your loan is structured correctly, but your overall financial situation, including your Superannuation, Personal Insurance and Estate Planning needs are also addressed. These areas are considered key aspects in developing and protecting your long term wealth goals.

Where To From Here?

While there are many online calculators available, they do not take into account all of your individual circumstances. We have a very short online enquiry form which will ask you some very basic questions and then organise for a Costal Lending Services loan specialist to contact you. By completing this quick and easy form we can already have some of the preliminary investigation completed before we call you, enabling you to be better informed, more quickly.

Or contact the dedicated team of Coastal Lending Services on (02) 4396 9755

Useful Information

Below you will find links to useful information when buying your first home.