The recent rises in home price throughout Australia, has proven to be an ever growing problem for first home buyers. Banks and other institutions insist that individuals have at least 5% in genuine savings before they will consider lending to you.

The term Genuine Savings means that you need to be able to prove that you have been putting set amounts away over the last 6 months or more to build up a deposit.

Lenders tend to go through savings records with a fine-tooth comb, disregarding any lump sums even if they are gifts from relatives or from the sale of cars or other personal goods.
At One Financial, we try to deliver more flexible products for our first home buyers. As long as individuals can confirm that you have sufficient funds to cover stamp duty and funds to complete we will not insist on six months savings statements.

All that we require is evidence that you have the funds to complete, even if this is in the form of a gift from a relative.

To speak with one of our loan consultants call us on 1300 551 695. Alternatively if you would like us to call you, please complete the enquiry form.