Client Overview

A young couple in their late 20s approached us wanting to understand their borrowing capacity and whether purchasing their first home in Sydney was even possible.

They had never owned property before and believed they still needed to save a much larger deposit before entering the market. Despite working hard and saving consistently, they felt home ownership in Sydney might still be out of reach.

The Challenge

The couple had limited understanding of the property buying process and believed they needed a 20% deposit to purchase their first home.

They were also concerned about lenders mortgage insurance (LMI) and the high cost of entering the Sydney property market.

Because of this, they had delayed their plans to purchase and continued renting while trying to save a larger deposit.

Financial Snapshot

Before working with us, the clients were renting and believed they needed to save a 20% deposit before they could purchase their first home. They were not aware that government support schemes existed that could help first home buyers enter the market sooner. They also expected they would need to pay lenders mortgage insurance as part of the purchase. After reviewing their situation and exploring available options, we were able to secure pre-approval for them under the First Home Guarantee Scheme, allowing them to purchase their first home with a 5% deposit while avoiding lenders mortgage insurance. This gave them the confidence to enter the market and begin searching for their first property.

Deposit used: 5% of the purchase price

Through the First Home Guarantee Scheme, the clients were able to purchase with a smaller deposit while avoiding lenders mortgage insurance.

Our Approach

We began by reviewing the clients’ financial situation, including their income, savings and borrowing capacity.

After assessing their position, we explained the full property purchasing process and introduced them to government initiatives designed to help eligible first home buyers.

We discussed the First Home Guarantee Scheme, which allows eligible buyers to purchase with a smaller deposit while the government guarantees part of the loan.

Based on their circumstances, we recommended applying for this scheme through one of the major lenders.

The Process

After collecting the necessary documentation, including payslips and savings history, we prepared their application and submitted it to the lender under the First Home Guarantee Scheme.

Once pre-approval was secured, the clients were able to confidently enter the property market.

Because they were new to the process, we introduced them to several trusted professionals including real estate agents and conveyancers we regularly work with. This helped them navigate the competitive Sydney market.

Through these relationships, the clients were able to view several suitable properties in their target area in Sydney’s Inner West.

They eventually found a property they loved and were able to submit an offer that was negotiated through their solicitor before the property officially went to market.

With their finance pre-approved and legal review completed, the contract was exchanged smoothly.