Christine acted as guarantor to give her kids a leg-up onto the property ladder

Like many parents, Christine Freney wanted to help her kids on the path to home ownership. But it’s never been more difficult for young people to secure an affordable home. Find out how UNO helped Christine and her son secure the perfect loan – together.

Christine, who has worked for a long time in commercial real estate in Queensland, knows a property bargain when she sees one. A three-bedroom workers’ cottage in a great street in Clayfield was for sale at a good price. It was an ideal starter property in need of renovation. Ryan, a 29-year-old carpenter, could do much of the rebuilding work himself, and turn the house into an ideal home for his partner and young son. Then, when the time was right, he could sell the property and the family could make a nice profit.

Parents to the rescue

For many Australian families, this is a familiar scenario. A report from research firm, Digital Finance Analytics, shows more than half of all first home buyers entering the market in the last quarter of 2016 had financial help from their parents. Many parents with available cash finance enough of their child’s home deposit so that they avoid paying lenders’ mortgage insurance, which is generally mandatory for buyers borrowing more than 80 per cent of the purchase price. Christine wanted to do more than that. She wanted to buy the property for Ryan and his family, so they had somewhere to live straight away. She moved quickly and signed a cash unconditional contract for $579,100 and then looked to secure finance. But there was a problem: something the energetic grandmother hadn’t considered before committing to the house. What lender was going to take out a 30-year loan with someone about to turn 59? If the loan was in her name, the best they would offer was a 15-year loan. That would have pushed the mortgage repayments to nearly $5000 a month. “I didn’t even think about it,” Christine says. “I don’t think I’m old! But it’s a fact. Am I really going to be working and paying off a mortgage at 90?” Christine needed to find a solution quickly. To make the deal work financially, she knew the mortgage could not be in her name. Ryan’s 26-year-old sister, Leah, who has an excellent credit record, was also happy to be involved. So the plan was for Christine’s children to be co-owners of the Clayfield property. Need a home loan?UNO. The new way to get a better deal. Get Started

A helpful hand

It’s about this time that Christine discovered UNO. “I rang them on a Thursday and someone named Jitarth [Jadeja] picked up the phone,” she says. “Straight away he thought outside the box. I’ve been involved in a lot of property development over the years. You want to work with people who are creative – who don’t follow the script over the phone or find it’s too hard. You want someone to engage with you and go, ‘let’s find a solution’. Right from that initial consultation, UNO really worked hard for me.” UNO mortgage coach Phillip Jiang was soon on the Freneys’ case. “He was great all the way,” Christine says. “He has a great sense of humour and is very, very good at what he does. The whole way along – every time we got a problem – we’d work together to fix it. They didn’t want to know what you had for breakfast seven years ago. They worked with what you had today and how you could go forward with it.” Phillip quickly helped the Freneys find the best deal for their circumstances – a 30-year mortgage through AMP. “The interest rate’s fantastic so you couldn’t ask for a better scenario,” she says. Christine was also impressed with how the team organised all of her documentation through the UNO website. “I had to get verification for some of the documents, of course – a few had to be witnessed or certified and then they had to be scanned back in – but it was a very simple process. UNO gave me an excellent checklist, too. “I thoroughly recommend UNO. After I wrote a feedback report, not only did I have a response from Phillip and Jitarth but the CEO rang me, Vincent [Turner]. I thought that was really lovely. I deal with people all day, every day: banks, finances, solicitors. Very rarely do you ever get someone who has the decency and the respect to their staff, as well as their clients, to pick up the telephone themselves personally and say ‘thank you for the lovely comments you made’. I’m totally impressed with the whole operation.” Christine is also pleased to have helped her kids on the path to real estate ownership. “It’s the perfect start to two young people and a young family to go ahead in the market,” she says. “That was the only way they could afford that little house in a fantastic street in a great suburb. That is their platform to bounce forward.” Contact UNO Home Loans to see how we can help you or your children find the right home loan to suit your family’s circumstances. Book in a quick call with our customer care teamBook a call in with UNO

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Sally Mackenzie
February 19, 2024
We chose Uno Home Loans from their impressive web site knowing we were going to find it hard, on many fronts, to qualify for a home loan. We were incredibly fortunate to be assigned Mike Parsons as right from the get-go, despite the complexities, he hit the ground running for us. He was incredibly knowledgeable, with years of experience but what was immediately apparent and impressive was that he was totally invested in getting us over the line, doing absolutely everything possible, including working around the clock. Despite it being a relatively small loan in the order of things, Mike never missed a beat, getting docs ready, following up and answering every request from the proposed funder immediately. He kept us informed on progress the minute anything happened, and again if anything needed to be done, he was right on it. In short, we highly recommend Uno, and Mike, knowing what a remarkable job he did, over many weeks, to get us our loan. He got us a great deal, with far better rates than we expected, so we couldn't be happier. In fact, without doubt, you'd be hard pressed to find a more personable, sharp, hard working, dedicated professional who clearly prides himself on getting his customers standout results.
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Scott and his team were just A-mazing. We felt supported through the whole process with the greatest quality and care. Every question answered right in time, or even before we asked. The process was smooth and we got the best outcomes we could have wished for.
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Angela Biddle
February 6, 2024
Our mortgage recently came up for renewal, and with interest rates skyrocketing we were looking for ways to minimise the impact. Michael and his team were proactive and attentive. Michael spent time with us to understand our circumstances. He found mortgage options that worked with our current financial situation and longer investment plans. He presented clear options, providing guidance where needed. He and his team were helpful and responsive - streamlining the process and keeping us updated through the negotiations. In the end, Uno did the heavy lifting and secured a significantly better rate than our current bank offered, all with friendly, personal service. We would highly recommend UNO Home Loans.
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Fotis Bikas
January 15, 2024
I cannot help but congratulate Scott Wilkinson of UNO Home Loans for being an absolute credit to both his company and the entire loans industry. Scott is a truly rare gem of a broker in that he will not only go the extra mile to achieve for each customer the very best deal, but his knowledge of all and sundry within the industry is unsurpassed (you will see what I mean if you speak to him). Additionally, Scott has a clear passion for imparting his wealth of information with each customer, whereas the conversation with most other brokers would simply be over if they could not get you the best deal. For me, Scott Wilkinson of UNO Home Loans stands head and shoulders above the competition and I feel privileged to benefit both from his expertise and professionalism whenever it is time for a refinance or new loan.
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Tomoharu Matsui
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Michael Parsons helped me a lot when it's difficult to establish my capabilities in loan.
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Gillian Kearon
January 9, 2024
I highly recommend Mike Parsons as a mortgage broker. I couldn't fault the service provided by UNO. Thanks Mike!
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Taner T
December 20, 2023
Thank you Eren Tan for the amazing service and support. Our Loan was a little tricky and complex for other lenders but Eren managed to get it over the line in record time. His professionalism and dedication to our needs was exceptional. If you need a Loan no matter how complex your situation, make sure you contact Eren at UNO Home Loans.
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Karaipu Brown
December 20, 2023
Buying & selling a house at the same time is very stressful but Scott Wilkinson from UNO home loans made sure we knew what was happening & took most of the stress away. He always kept us up to date and if we had a concern or wanted clarification on something we were able to call him, if he didn’t know the answer straight away he will find out and contact us back.. now we are enjoying our new house and turning it into a home :)
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Chris Anderson
December 18, 2023
Just completed my first loan with UNO which was so much easier than with other other brokers I have used in the past. Our broker MIKE PARSONS always had time for me and broke things down for me in the simplest of terms and was very patient with my silly questions and my constant changing of plans. I wish I had used them in the past as I wouldn't be in the situation I'm in now. Can't recommend them highly enough. Thanks UNO and Thanks MIKE 😊
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Stephen Broomfield
December 11, 2023
To be able to recommend Scott Wilkinson for your mortgage broker was a privilege. We had deals fall through but Scott supported, guided and stuck with us, proper partnership. The whole team at UNO helped us and supported us right through to after settlement. Made sure everything was correct and how we are progressing. Communication was amazing and straightforward and easy to understand. Transparent. We can not Recommend Scott and the team as Uno high enough. Use UNO with confidence.
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Can't thank Amy enough for her hard work, dedication and determination on getting multiple loans completed for me. I wouldn't hesitate in recommending Amy and the Uno team to any of my associates. Will definitely be back in the near future!
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November 3, 2023
If you’re looking for a trustworthy, thorough, reliable & knowledgeable Mortgage Broker then you must call Anita Callaghan! I can’t even imagine how stressful this process would’ve been without her. Anita went above and beyond to make sure she answered every question, responded to every text (even on weekends/after hours), and followed up on every detail to ensure we had all the info we needed. Anita is a true people person who is warm, empathetic, kind and supportive. You can tell she loves helping people and loves what she does, which is probably why she’s so good at it! Can’t thank you enough Anita, or recommend you more highly! You’re the best!
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