Learn how we can help you make the right choices for life's important financial decisions

Taking time to understand and review your borrowings is an important part of your financial security.

Property has been the centrepiece of the great Australian dream for over a century, and even with today’s housing affordability challenges, first home buyers and investors alike continue to seek their piece of the property market.

Our Banking Manager has direct access to over 20 lenders and can work with your existing finance institution or do the ground-work and research to establish the best package for your circumstances.

Getting started

The decision to invest in property, whether you’ll live in it or not, should not be taken lightly and requires careful planning. For property investments to be successful you’ll need to reconsider your current lifestyle and spending/saving habits. Creating a budget and a savings plan is the all-important first step in laying the foundations for your financial security and that of future generations.

Saving for a deposit on a property often takes years, not weeks or months. It’s not easy, especially for individuals and single-income families, but it’s the first step in property ownership. Ask your parents or grandparents how easy it was for them to save; what car they upgraded to and what brand of plasma TV they preferred! Balancing lifestyle with savings is crucial to success in property ownership.

Saving tips

When saving for a property, it is now commonplace for adult children to remain at home to improve savings and single people should consider living with a roommate to share expenses. Double-income couples should aim to live off one income and save the second. When starting a family and household income is reduced, revert to an interest-only mortgage. When the caregiver resumes employment, direct the bulk of their income to the mortgage – you were managing without it before. These simple measures will quickly increase your savings capabilities provided you also review your lifestyle expenses.

Before you buy

For residential property, maximise your deposit savings before you seek a mortgage to improve your loan to valuation ratio, compare interest rates from several financial institutions before committing to a loan and most importantly DO NOT over commit.

Expect interest rates to rise, that changes in employment circumstances will happen and that you may be reduced to one income as your family grows. These are basic considerations, and anyone buying a property should seek financial advice to ensure they’re properly positioned before signing anything.

Not everyone can afford the financial commitments that come with property holdings, but after the first home, those willing to commit to structured and controlled savings may then start developing a property portfolio. However, despite an overwhelming number of Australians wanting financial independence, sadly too few are willing to make the sacrifices or adjust their lifestyles to accommodate what can be subtle changes.

Living the dream is not about the now; it’s about next month and next year.