Common questions first home buyers have.


How much can I borrow & how much can I spend?

Pretty much first question – how much will the banks lend me – to which I add, how much do you want your repayments to be?

The answer varies between lenders. Online calculators, are not terribly accurate so I would advise you seek proper preapproval before you go looking.

In order to maximize your potential remember all credit facilities reduce your borrowing capacity. Cut credit card limits and pay out and close personal loans, car loans, and interest free facilities.

How much deposit do I need?

With the exception of where you have parents offering a guarantee – lets come back to this – you typically need a minimum of around 9% of the value of the property to buy your own home – 5% to go towards your deposit itself and the rest to cover your costs.

If you’re buyi