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MELBOURNE, AUSTRALIA, November 16, 2021 /24-7PressRelease/ -- As one of the leading non-bank lenders, Liberty applauds the newest homebuyer fund announcement but reminds buyers that there may be more flexible home loan options available to them than they might realise.
The Victorian Government's $500 million Victorian Homebuyer Fund is the latest in a string of state and federal government initiatives to help more Australians into homes.
Offering up to a 25% contribution to your home purchase, the fund will allow eligible borrowers to get on the property ladder with a 3.5%-5% deposit and avoid lenders mortgage insurance.
While Liberty welcomes such measures, the free-thinking lender hopes borrowers will look beyond the headlines and traditional banks to assess all their options when seeking a solution of best fit for them.
Liberty's Head of Communications Heidi Armstrong says that new incentives like the Victorian Homebuyer Fund are appealing, but borrowers must remember that they will need to repay the value of the government's contribution.
"It's exciting to think that with government assistance you may be able to get into a new home sooner. But there are also lenders like Liberty who offer home loans for borrowers with deposits from as small as 5%. And, with the ability to build LMI into the loan, non-traditional lenders like Liberty can help customers get financial sooner, without giving up an equity stake in their own home."
With free-thinking credit assessment practices, Liberty can support homebuyers to find the right mortgage for their circumstances. By assessing each home loan application case-by-case, Liberty can offer solutions designed to help more borrowers achieve their financial goals.
Approved applicants only. Lending criteria apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial.
Group Manager –Communications
P: +61 3 8635 8888
E: [email protected]
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