Client Solutions – Purchase with a gift as a deposit

Client: John and Jane – 2 children.

 

Requirements of the client:  To purchase a new owner occupied house.

 

Why Multi Choice Home Loans: Jane googled ‘Mortgage Brokers Hervey Bay’ finding Multi Choice Home Loans as one of the top three brokers for the area. She phoned to make an appointment.

 

Client’s details: Both clients have good long term employment. John and Jane also had a car loan that their mortgage broker suggested they pay out to give them better borrowing capacity. However, paying out their car loan decreased their savings to a 5% deposit. Jane’s parents are willing to gift them the 20% deposit in order for them to purchase a new house.

 

Home loan option: The gift of the 20% deposit from Jane’s parents gives them better home loan options as they will not be paying mortgage insurance.

 

The outcome: Their mortgage broker was able to secure a good home loan product and rate for the purchase of their new house. That included no application and ongoing fees.

 

If you feel like you are in a similar situation seeking home loan advice, please do not hesitate to contact the team at Multi Choice 07 4194 2955 or 0438 724 113.

 

 

* The client’s name has been changed to a generic name, John & Jane, in every case study.

DISCLAIMER: this case study is intended to provide general information only. Parts of this have been changed to protect client confidentiality. Readers should rely on their own enquiries before making a decisions regarding their own situation. Please do not rely on any part of this case study as a substitute for specific legal or financial advice.


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