How we can help
We assist our clients by removing the danger, stress, and confusion that comes with purchasing a new home, leaving you feeling empowered and in charge of your finances!
Work with us so we can assist you in obtaining finance so that you can purchase the home of your dreams while saving you time and money. We are specialists in providing solutions and negotiating to get the best loan for you.
Your bespoke savings coach meeting
If you’ve had trouble getting loans in the past, our coaches may be able to help.
Reviewing your finances will allow us to determine how you will be able to service your loan - it might not cost any more than what you’re paying in rent right now!
Doing this will give you great insight in terms of what your budget could look like and then plan how we get there.
Your MAB Savings Coach will help you set up your account and goals. Our personal wealth app, allows you to have it all in one place, giving you full transparency over your finances.
Your coach will be with you throughout your entire savings journey to check in and keep you on track and help you save for your deposit sooner!
7 Common mistakes and here's how to avoid them
1. There is no plan
'If you don't plan, you're planning to fail.' Purchasing a property without first arranging finance is like constructing a home without a blueprint. You should consider your purchasing timelines, financing capacity, and areas of flexibility in case what you think you can afford doesn't match what you can actually afford.
2. Thinking you need a huge deposit
Of course, having a 20% deposit is fantastic. However, saving a 20% deposit can be difficult, especially in this day and age when property prices are high, living costs are high, and incomes are low. Talk to our MABSavers coaches to see how we can help!
3. Not enough research
It might be hard to consider leaving a suburb which you have always felt a strong attachment to! When considering a move, remember you're not just purchasing a property; you're buying a neighbourhood. Look to see potential growth and value of your property.
4. Irrational buying
Customers who fall in love with a property will go to great lengths to obtain finance to secure it. So when you're torn, try to not focus on the aesthetics that are out of your budget, such as hardwood flooring, kitchen size, or the opulent master bathroom, instead try to focus on the greater picture.
5. Choosing the wrong home loan
Home loans can be complex, especially when trying to navigate your way around all the different home loan products available. Homebuyers can make the error of not understanding the loan's intricacies. The range of loan products available might be overwhelming but taking out the wrong home loan has resulted in being stuck with a mortgage that isn't right for you.
6. Borrowing beyond your budget
Just because a lender says you can borrow a certain amount doesn't mean you should. Purchasing a home that is much above your financial means could severely strain your finances. MAB can evaluate your financial situation comprehensively and estimate your acceptable borrowing capacity, allowing you to feel at ease when making a purchase.
7. Underestimating additional costs
Those who are new to the home-buying process are sometimes unaware of the additional fees that come with it. MAB is prepared to assist you in all these areas. Stamp duty, bank fees and charges, agent fees, and conveyancing or legal expenses are all things we help with. We also have relationships in place to connect clients with moving and insurance companies.