HAVE YOUR AVO AND EAT IT TOO!
Saving for a house deposit is the ultimate fun sponge, with many Australians sacrificing years of smashed avo to scrimp and save that hefty 20% deposit.
But as a doctor, did you know Walshs has exclusive arrangements with banks to offer speciality deals for medical professionals, including 5% home loan deposits with no Lender’s Mortgage Insurance?
Walshs also has exclusive arrangements with banks to offer speciality deals for non-doctors as well, including 15% home loan deposits with no Lender’s Mortgage Insurance.
According to Walshs mortgage broker Darole Evans, the money that would otherwise be swallowed by your loan could actually be used to offset the interest, potentially saving you hundreds of thousands of dollars in the long run.
“Rather than contributing more money that’s tied up in the house, you can retain your 15% cash component as a loan set-off for an owner-occupied loan on variable rates, which means you pay less interest,” Darole says.
“It’s also cash you can use for other purchases,” he says.
“When you buy a house, especially if it’s owner-occupied, there’s usually a few things you want to do when you move in – you might say ‘I hate the kitchen or I don’t want the bathrooms’ and you can change them straight away.
“Essentially you can use that extra deposit in multiple different ways; either to save money in the long-term, to reduce debt or to make other purchases.”
LOANS WITH BENEFITS
With more cash in your coffers, Darole says the Walshs team – comprising qualified financial planners, accountants and mortgage brokers – can provide holistic, expert advice on how best to use your would-be deposit to generate future wealth.
“We provide the full service, from your accounting and tax perspective to your wealth and financial planning perspective, matching those two into the ability to go to the appropriate lender to suit your needs and, importantly, give you the best deal.
“One of the biggest issues traditional mortgage brokers have when talking to a customer is ‘can I get a copy of your financials and your cash flow’ but here at Walshs, I can walk around the other side of the room and get that in five minutes.
“And I can understand what the team is trying to achieve from a tax and financial planning perspective, and then tailor the loan and the bank to the customer, so it’s a unique proposition.”
If you’d like to chat to one of our lending experts, drop us a line at (07) 3221 5677 or book a 1-1 meeting.