Remember that classic TV ad: ‘nine out of 10 dentists recommend using [toothpaste brand]?’ Well, it turns out we’ve earned a similar level of trust when it comes to helping first home buyers sink their teeth into the property market.
That’s because nine out of 10 first home buyers (FHBs) recently said they trust a mortgage broker to help them buy their first property.
And, unlike dentists, we’re actually allowed to show our faces!
The Genworth First Home Buyer Report 2021 surveyed 2,077 prospective FHBs, and 1,008 recent FHBs – and we’re pretty chuffed with the results.
Here’s what one respondent said:
“Go and see a professional broker in-person early on in the process. That way they know your situation and are able to best guide you through and help you out,” the 32-year-old recent FHB from WA said.
And he wasn’t alone.
Almost nine in 10 FHBs believe mortgage brokers help cut through the complexity in the home buying process.
The report also found a similar proportion of FHBs believe mortgage brokers provide reliable, trusted advice and information.
And finally, close to 90% of respondents said mortgage brokers provide valuable support during the home buying process.
So in a nutshell:
Trusted = tick.
Jargon busters = tick.
Reliable advice and information = tick.
Valuable support = tick.
You might have noticed the property market has picked-up over the past 12 months, to say the least.
It’s left a lot of prospective first home buyers frustrated that the suburbs they were once focusing on have moved out of their price range.
While this may be the case for a lot of people, it’s not always the case.
There are a number of federal government schemes available to FHBs, including the First Home Loan Deposit Scheme – which can allow you to buy your first home with a deposit of just 5% without paying for Lenders Mortgage Insurance.
There’s also a range of state and territory government schemes designed to give FHBs a leg up into the property market, including first home buyer grants and stamp duty concessions.
For more information, give us a call today – we’d love to discuss your situation and help you make the leap from renter to first home buyer, and get you smiling as proudly as your dentist does!
Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.
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