Your First Home in Ferntree Gully Starts Here

The Path to Ownership: A 6 Step Guide

01 | Organise your deposit and budget

While a 20% deposit is the traditional benchmark to avoid Lenders Mortgage Insurance (LMI), many of our buyers start their journey with as little as 5%.

• Guarantors: You may be able to use equity from a family member to back your loan and get into the market much sooner.
• First Home Guarantee: This government program enables eligible buyers to purchase with a 5% deposit while bypassing the cost of LMI.
• Local Budgeting: Remember to factor in legal conveyancing, building and pest inspections, and your moving day expenses.

02 | Navigate the loan process

We review our panel of 60 lenders to build your customised Game Plan. Once you select a direction, we coordinate your pre approval, which is generally valid for three months. This gives you a clear spending boundary to begin house hunting seriously.

03 | Know your options

We help you choose the right mortgage structure:

• Variable rate: The interest rate can move up or down over the lifetime of your loan.
• Fixed rate: Your rate is locked for an agreed timeframe, ensuring total repayment certainty.
• Split loan: The best of both approaches, with one portion fixed and the remaining balance variable.
• Offset accounts: A separate transaction account that decreases the net interest you owe on your mortgage.

04 | Find your dream property

In the local property market, it is important to weigh up your lifestyle needs:

• House vs Unit: Free standing houses typically offer higher long term capital growth, while townhouses and units provide accessible entry points closer to major transport hubs.
• New vs Existing: Newly built homes can unlock extra state government grants, whereas established properties often feature larger blocks and unique suburban character.

05 | Property buying checklist

Before you sign a contract of sale, keep these specific factors in mind:

• Outgoings: Review council rates and potential owners corporation fees to understand your true ongoing costs.
• Zoning: Double check local council planning guidelines for overlays or any upcoming infrastructure changes nearby.
• Condition: Always examine the Section 32 vendor statement and secure independent building and pest reports to look for structural flaws.

06 | Why choose a Loan Market Connect broker?

• We work for you: We operate independently of the banks, meaning our priority is your best interest, not the lenders.
• Local insight: We understand the nuances of the Victorian property landscape and the local market trends.
• No cost to you: Our service is paid for by the lender you eventually choose, meaning you obtain professional representation without receiving an extra invoice.