First Home Buyers
Taking the big step of buying your first home is exciting and daunting, and you will often have many decisions to make as well as questions around how to navigate the lending process for the first time. Besides finding the right property, some of the most pressing questions you may have are:
Our team can help you to secure the right loan and answer any of your lending questions so that you can feel confident in purchasing your first home. Additionally, because you're a first home buyer, you may be eligible for certain government concessions or grants which are available to Australian citizens or permanent residents who wish to buy or build their first home that will be their principal place of residence within 12 months of settlement. Grant conditions vary from state to state, and we can help you determine what you are eligible for.
Perrier Ryan can help you find the first home loan to suit your needs by leveraging from our strong relationships with leading Australian lenders and expert knowledge.
Next Home Buyers
Whether you are buying your first home, second or sixth home, finding the right loan for this purchase can be complicated. Having been through the process of securing a home loan previously, you'll remember how frustrating and confusing it can be – especially now with hundreds of home loan options available and new products emerging all the time.
You may also be facing the decision whether to sell your current home to fund your next home purchase or whether to turn your current home into an investment property. With any approach, you may have the challenge of organising the right lending for your circumstances.
By taking advantage of Perrier Ryan's knowledge and expertise, we can give you the right advice on how to structure your lending as well as help you to secure the loan to suit you.
Investment Property Purchases
Before committing to an investment property purchase, you need to take care of the financial side of investing in order to find the right property that you can afford. It is important to understand the "fine print" of investment loan options that offer competitive rates and fees while still providing you with flexibility which can often be a time-consuming and confusing process.
Generally speaking, your investment loan will be similar to a home loan - you will be required to make repayments based on the loan principal, interest rate and term. Investment loans may come with a slightly higher interest rate although this will depend on the lender.
Perrier Ryan's experience and strong relationships could save you money and potential difficulties in the long-term as we can compare hundreds of loans from a wide range of lenders and provide you with the right lending advice.
When you are looking to build a property instead of buying an established property, you will need to consider a different loan structure for the purchase. Construction loans commonly have features such as:
- progressive draw-down (i.e., you draw down the loan as needed to pay for the construction progress payments)
- interest-only repayments through the construction period
- the amount available to borrow will be partly based on the value of the property upon completion of the construction
With progressive draw-down, lenders will make progress payments throughout the stages of construction once the loan has been approved and construction of the property is underway. A key benefit of progressive draw-down is that the interest and repayments on the loan are only charged / calculated on the funds used not the full amount of the loan until the construction is completed.
Perrier Ryan is able to help you find the ideal loan to suit your circumstances using our expertise, knowledge and relationships with Australia's leading lending institutions.
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