Buying your first home is about the biggest step you're going to make in your life. We know there is a bunch of flash ads out there on TV and lots of confusing information coming your way so we want to help by providing some independent advice on your Home Loan options and guiding you through the process.
What have we got that the others don't? We've got a first home specialist Mortgage Broker - That's Claire Martin.
At 27, Claire is not one of these old hands sitting behind her desk and talking down to you about how you should have saved more deposit or you should make sure you buy a brand new house so it needs less maintenance.
So what do we do different?
Information just for you - If it's your first time you're going to be a bit nervous about taking this first step. We're here to make it easy, and surround you with a team who will make you feel 100% confident in what you're doing.
First of all we take the time to really sit down and chat about what you want to do. You might have a really good idea of what you'd like to achieve, or you really might need someone to talk you through what a mortgage is and what it actually means for you.It's so important to know that no question is a silly question., and that Claire loves explaining lending to people. As someone said to me the other day, you're not buying a piece of furniture or a takeaway dinner, you're buying a house, and that's one of the biggest purchases you'll ever make!
Our process in 10 easy steps;
- Get in touch with us and send us some information about your situation
- We have a friendly chat about your plans and what you can do - this can be at your place, a local cafe, our office, even on the phone or over Skype!
- You'll fill out some forms and send us some information, and we help you through the Kiwisaver and HomeStart process
- We will submit an application and gain pre-approval for you
- Find your dream home and make an offer!
- Once accepted, we work with you and your solicitor to meet any conditions on your loan offer
- Finance, Builder's, LIM and Meth is confirmed - you're now unconditional, and definitely buying this house!
- We catch up, chat about how excited we are for you (and your loan structure and future plans) and lock it all in
- Loan documents are sent to your solicitor for signing, and you'll visit the bank quickly to show some ID and open accounts in some cases
- You'll be a home owner on settlement day!
Claire's top 5 tips for First Home Buyers
- Save and reduce. By this I mean save as much as you can towards your deposit, and reduce any current debt you can. You might fall on one side or other of this spectrum, but the reality is that a bank who sees you have the dedication to save for your goal (even if it's a small amount each week) will be more likely to put a tick on your application. The same goes for current debt. If you've bought a car 12 months ago and have paid your loan off in that time, you're in a better position to meet your home loan requirements than if you've got 4 credit cards and a personal loan for a trip overseas.
- Get pre-approved first. This means a chat to Claire, who will provide all of the information you need, and then a formal loan application to confirm you're eligible to borrow. This will make the process when you find a property a huge amount easier.
- Surround yourself with experts.... you'll only buy a house maybe once every 5-10 years, so it makes sense to talk to the people who see sales and purchases all the time, like Real Estate Agents, Lawyers, Accountants, Valuers, and us! Having an awesome team makes all the difference to your first purchase, and if you're not sure about who is the best person to contact, we have some amazing contacts who are fantastic at what they do.
- Be prepared to compromise. When it's your first home, it's likely you are probably starting in a lower price bracket, and there will be things about each house you perhaps aren't in love with. Establish what's important and what's not, i.e. you might need a fence for your pet dog, or have to have a garage for your antique car. But you might be happy with an older style ktichen and bathroom because you can have those things.
- Get the checks done. Things like a Builder's Report, LIM report, and Meth Test are incredibly useful tools in making sure the house you're buying isn't a lemon. I've seen it all, a beautifully renovated house with $100K worth of water damage, a family moving out of a house where there was Meth smoked a few tenants ago and is still in the walls... Even though these tests might cost you some money, the money you'll save in having a solid, sound house will be worth it.
Claire is here to answer any of your questions, and the easiest way to contact her is to head over to our contact page to pop in your details. She'll come back to you same day and we can get the ball rolling and make a plan for you!
Talk soon,Adam Thompson, Claire Martin and the My Mortgage Team