How much do i need to save for a deposit on an apartment in Sydney?

Question

i am looking to buy an apartment with my partner and not sure where to start...

Can anyone recommend financial institutions, loan lenders or supply any advice to get me started?

Thanks.

Answer 1

I've been recommended this company - http://www.smartline.com.au

I'm going to see someone from there next week. A few people I spoke to said they were really helpful at getting you the best deal and explained everything to you so hopefully they'll help me too.

I'm finding it handy to read some home loan guides such as this one http://au.pfinance.yahoo.com/home-loans/...

just to get a feel of the market.

Also I've been picking the brains of my friends who have bought already - everyone has their own experiences so it's really handy to get all their advice.

Answer 2

My advice would be save as much as possible before getting a loan. The no-deposit home loans have huge interest rates, and huge monthly re-payments. Go with a big bank. There have been a few institutions going bust lately. I would stick with NAB or Commonwealth or another leading institution.

Answer 3

a-h**l-of-a-lot and then some!

It's really best to do your own research with the banks/lenders and make educated decisions.  Everyone's financial situation is different and I'd hate to think that you get your home repossessed after some dodgy info on here.

Good luck