Ingenious new product to help people with low or no deposit to buy a home

Discover an alternative to mortgage insurance with Own Home. By providing a loan to cover the balance of your deposit, Own Home allows you to avoid paying lenders mortgage insurance. This option is especially beneficial for first-time homebuyers who may not have a 20% deposit. With Own Home, you can buy a home sooner, potentially saving money as property prices rise. Plus, they provide a buyer's agent to assist you in finding the perfect property. Unlock cheaper interest rates and make your homeownership dreams a reality with Own Home.

Unlocking Home Ownership: How Own Home is Changing the Game for Buyers

The dream of home ownership is closer to reality than ever before, thanks to innovative solutions bridging the deposit gap that has long been a barrier for first-time buyers and investors alike. With the emergence of alternatives to Lenders Mortgage Insurance (LMI), navigating the property market has taken a new turn, facilitating purchases and potentially generating significant savings. This article dives into the transformative approach introduced by Own Home, the implications of such a service, and how it redefines the pathway to acquiring property.

Key Takeaways:

  • Own Home offers an alternative to LMI by providing a loan to complete a 20% deposit, enabling buyers to avoid high insurance costs and access potentially cheaper interest rates.
  • This service includes the expertise of a buyer's agent to guide clients through the property purchasing process, typically a costly endeavor.
  • Partnering with Own Home may lead to significant financial advantages over traditional mortgage insurance, particularly as it builds the pathway to lower Loan to Value Ratios (LVRs) and unlocks more favorable interest rates.

Bridging the Deposit Gap with Innovative Financing

The crux of the home buying challenge is amassing a sufficient deposit. Traditionally, achieving a 20% deposit has been a standard goal to evade LMI. "And everyone aims for getting a 20% deposit because most people know that if you have 20% deposit, then you're not going to have to pay lenders mortgage insurance." However, the reality is often different, particularly for those entering the market for the first time.

Own Home's model presents a compelling solution by furnishing the remaining portion of the deposit to hit the 20% mark. Contrary to the traditional insurance fee paid upfront, this option involves a secondary loan. This necessity to service two loans simultaneously mandates a stable income, but as the transcript highlights, "even factoring in paying two loans at once, it actually is cheaper than mortgage insurance in most cases."

The Added Value of Professional Expertise

Navigating the property market can be a daunting task for the uninitiated. Own Home matches its financial product with the hands-on guidance of a buyer's agent, a service that stands to demystify the process and enhance the quality of the purchase. The spokesperson elucidates, "when you go to buy a home, especially a first home buyer, there's a whole lot that you need to know and understand to do the buying part well." With Own Home, acquiring such service – often costing a significant sum – is part of the package, ensuring buyers make informed decisions without the added expense.

Unlocking Better Interest Rates and Future Savings

One of the most praised facets of Own Home is its ability to grant access to more attractive interest rates, translating into long-term savings. Interest rates vary according to LVR, and traditionally, lower LVRs entice lower rates. By leveraging the help of Own Home to achieve a lower LVR from the outset, buyers may enjoy cheaper rates. The generative effect explained by the spokesperson is clear: "the blended interest rate of the own home loan plus the normal home loan, but the cheaper one will let [you] save money over the course of the, you know, the first three to five years". This presents a strong argument against the singular route of mortgage insurance.

The idea of blending two loans to unearth savings manifests an innovative approach, contrasting with the monolithic structure of traditional mortgage financing. This three to five-year span is crucial, representing a period wherein financial stability can be significantly solidified.

As we circle back to reflect on the insights unveiled through the transcript, it's evident that the property landscape is evolving. Solutions like Own Home are not merely transactional; they aim to readjust the entire buying journey. The promise of speed (“You could buy the home tomorrow”), coupled with a financial strategy that circumvents often-prohibitive insurance fees and leads to eventual interests rate savings, cannot be understated.

A deeper consideration of Own Home's methodology reveals a symbiotic objective; not only to facilitate real estate transactions but to empower buyers with the right tools and guidance. It's a testament to the power of alternative financing in a world where real estate often feels out of reach for many.

Own Home's disruptive model may not fit every buyer, but for those it does, it lights the beacon to homeownership brighter than ever. As property prices continue to escalate and the 20% deposit becomes increasingly elusive, models like Own Home will undoubtedly become leading characters in the stories of many new homeowners. What lies ahead is a rebalancing of opportunities, making the prospect of owning a home less of a far-off dream and more of an immediate plan of action.

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April 25, 2024

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Andy Song
May 17, 2024
Amy has been absolutely wonderful as a broker. I would not hesitate one bit in recommending her services.
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Troy H
May 13, 2024
Scott Wilkinson did a great job as my broker. He was very patient and always happy to answer my numerous questions throughout the considerable period of time that it took to secure a suitable property. Would certainly recommend Scott and the team at UNO for anyone seeking a broker.
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May 10, 2024
First time I have used a Broker and I must say Andrew Wyers and his team were amazing to work with and handled my refinance from a Big4 bank. He was able to understand my needs and find a lender that will be able to help me grow my investment portfolio. Andrew and his team kept me updated as part of my refinance journey and made the process super easy and I was able to refi to new lender in under 2 weeks. Would highly recommend Andrew.
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April 19, 2024
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Dealing with Scott Wilkinson was an absolute delight. Scott is tenacious, hard working and readily available. He made a very stressful process for me and my partner smooth sailing. Would highly recommend.
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Mike Vincent
April 10, 2024
Andrew is the best broker I have worked with and one of the few people who understands the investment journey from both a personal and professional standpoint. Andrew is an asset to anyone from a first home buyer to a seasoned investor.
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Yu Su
April 9, 2024
Amy was very help and quick respond when I have questions. Really recommended.
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John Cahill
March 7, 2024
Scott Wilkinson was my broker last year when I sought finance for a new property investment and refinance for my property port folio. He was an absolute delight to work with. He was always professional, on time and always available to talk at a moment's notice to discuss my credit options and give well considered advice; usually this was very much after-hours due to my work commitments during the day. He was always happy to talk. I had not used a mortgage broker in a long time opting to do the re-financing myself. This was primarily due to disappointing experiences I'd had with mortgage brokers in the past. However with the increasing complex nature of dealing with credit providers, I could see that I needed a good advocate to act on my behalf for this particular refinance. In all honesty I did not hold much hope that in the current credit environment I would be able to secure the finance I required for the new property investment I was wishing to secure. Scott found a way however and was able to secure the finance along with the refinance of my portfolio. I have since referred friends to Scott and I know they have been very happy with his work. He is ideal for property investors who have busy day-jobs and need someone who understands property investment strategy and is able to tailor credit advice and options to their needs. Scott provides this advice and information in a way that is clear and concise. He kept me up to date continually during the application process. He made what could have been a very stressful and frustrating process easy and straightforward. I could not recommend Scott and the team at UNO Home Loans more highly. They are all a delight.
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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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Rod
February 13, 2024
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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