The journey to first home ownership is an exciting time and it’s important to get the right team of people behind you to help guide you through the process.
Bank of us‘s home finance specialists are on hand to help and we recommend having a chat early on to ensure you have a good guide as to how much you can afford to borrow, how much deposit you will need and what your loan options are.
With this information on hand, you’ll then be well placed to start making decisions about which area to live in and whether to build, buy or renovate – the exciting part!
Once you’re clear on the fundamentals, you can then start to consider your home loan options.
The first golden rule – do not get swept off your feet by the lowest interest rate. Carefully consider the features and benefits of different home loans (such as extra repayment options), along with associated fees and charges (such as monthly fees and annual package fees).
As a guide, there are three choices when it comes to interest rates: