• Getting on the property ladder


    Ken Wilson explains the how he has helped first home buyers onto the property ladder and some alternative ways you could own your home sooner.


    Three most important things when you're getting a home loan would be: 

    • educate yourself first.  So make sure that you know as much about the process as possible and 
    • secondly - align yourself with someone who is a professional.  Someone who's been around the block a few times.  He'll know all the pitfalls - the goods and the bads.  
    • thirdly - make sure that you're organised in terms of a pre-approval.  There's no point making an offer unless you know how much you can borrow.   

    If you've got a limited deposit there's probably three general solutions: 

    • parental guarantee that's becoming more and more important.  So parents are getting involved in the lending process and saving their kids a lot of mortgage insurance costs, but at least it gets them into something more more quickly.
    • secondly, if you don't have parents to guarantee, then basically mortgage insurance is the option for you. So hopefully the growth in the property over the period of time you're going, sooner rather than later would outweigh the cost of the mortgage insurance.
    • thirdly, if you can't afford the price range that you're in, in the geographic area that you live or you want to live, then investment property is a good option for someone that might have a smaller deposit and therefore opens up a wider geographic market to at least get your foot on that in the market

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    About the author

    • Roseberry - Ken Wilson

      With over 25 years’ experience under his belt, Ken Wilson, Principal of RAMS Sydney South East is no stranger to the mortgage industry. 

      Together with his dedicated team, Ken has been able to help thousands of Australians onto the property ladder, and into new homes. In addition to Ken’s hands-on experience in the industry, he also holds a Bachelor of Commerce and a Diploma in Financial Planning and Mortgage Lending.

      Contact your local RAMS Home Loan Centre about your home loan options.

      Ken Wilson

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  • Disclaimer:

    This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice.