Julie invests in a second home and her future
As a single mum, Julie has worked hard to re-establish her own home after a not-so-amicable divorce. While raising her son, Jacob, she worked full-time, saved tirelessly and bought a small two-bedroom unit.
Four years on, Julie had managed to reduce her home loan to 60% of her property value. Seeing the equity build, she saw her mortgage broker and asked whether it would be too outrageous for her to consider buying an investment property. The problem was, while she had the equity to buy another property, she didn’t have the cash for a deposit.
The broker not only assured her it was a realistic dream, but was able to provide a pathway to make it reality. He suggested she negotiate any contract of sale using a deposit bond from Deposit Assure.
With a Deposit Assure bond in hand, she could finalise the contract and draw down the funds at settlement. It was the final piece in the jigsaw Julie needed to purchase with confidence and invest in a happy, stable future.
OTHER REAL-LIFE STORIES
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It’s a downsizer’s dream to be able to purchase a smaller home before selling the current one. The problem is, most of us will still need to find a deposit to make the dream come true, as Sydney-sider Angela Verad discovered.
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New South Wales couple David and Alison thought they had it all covered when they decided to buy a beautiful off-the-plan unit in Potts Point. But then everything changed.