5 Secrets To Getting Into Property Faster

Insider Secrets: Are You on This List?

When I started my property journey over a decade ago, I quickly realised that getting your foot in the door is the hardest part. It took me 6 years to pull together my first deposit, and let me tell you, it wasn’t easy. These days, with changes in the lending landscape, it’s even more challenging, but don’t let that discourage you—there are still ways to buy more property and expand your portfolio!

You just need to be aware of a few key lending policies that could make all the difference. These four strategies are designed to help people break into the market or grow their portfolio, whether by minimising upfront costs or making lending criteria more accessible. Let’s dive into these game-changers that can help you take that crucial first step.

1. The High-Income Earner Special

Imagine being able to secure a home loan with just a 5% deposit and no mortgage insurance—sounds too good to be true, right? Well, it’s not a fantasy. One major lender is actually offering this, but only for loans of $2 million or more.?

This is a golden opportunity for high-income earners with strong serviceability, potentially saving you up to $100,000 in mortgage insurance premiums. If your household income is over $400k, this could be the perfect strategy to maximise your equity and start expanding your property portfolio.

2. Simple Self-Employed

Self-employed? I get it—banks haven’t made it easy for you.?

But here’s some good news: lenders are starting to catch up with the reality of self-employment. Instead of demanding two years of tax returns, some are now approving loans based on just six months of income.?

This new flexibility is a game-changer for entrepreneurs, contractors, or anyone transitioning into self-employment who may not have the traditional financial records that banks usually demand. It’s about time, right?

3. Sharing is Caring

With property prices continuing to rise, co-buying is becoming more common, and there’s a policy that caters to this trend.?

The Property Share Loan Policy lets you co-own property with friends, families, or partners without making you liable for the entire loan amount. Each person is only responsible for their share of the debt, making future financial decisions easier to manage independently. It’s a smart, strategic way to enter the property market without compromising your financial flexibility.

4. You’re a Professional

Are you a medical professional, accountant, lawyer, or even a bank employee??

There are specialised borrowing policies to drop the amount of cash or equity required to purchase a property. This waiver can lead to massive upfront savings—think tens or even hundreds of thousands of dollars—and get you into the market faster to potentially receive gains.

Eligibility Criteria:

• Medical Professionals: Eligible for a 10% deposit, no LMI; with doctors qualifying for a 5% deposit no LMI. This includes doctors, nurses, optometrists, pharmacists, physios, and a wide range of other healthcare professionals.
• Accounting Professionals: Must hold current memberships with recognised bodies (Such as CA ANZ) including a wide range of international accounting bodies
• Legal Professionals: Includes lawyers, solicitors, barristers, judges, and magistrates.
• Bank Employees: Eligible for 10% deposit, no LMI.

These four lending policies are designed to give you that crucial edge, whether you’re just starting out or looking to grow your portfolio. From minimising upfront costs to making lending criteria more accessible, these strategies can be the game-changers you need.

5. For First Home Buyers: A 5% Deposit with a Government Guarantee

If you're a first home buyer, the Australian Government’s First Home Loan Deposit Scheme can be a real game-changer, allowing you to buy a home with as little as a 5% deposit—without having to pay Lenders Mortgage Insurance (LMI).?

The government acts as a guarantor for the remaining deposit, making home ownership more accessible to Australians who might otherwise struggle to save the typical 20% deposit.

To be eligible, you need to meet a few key criteria.?

• Australian Citizen or Permanent resident
• You must be a first home buyer or have not owned any residential property in the last 10 years.?
• Your income should be less than $125,000 as an individual or $200,000 as a couple (as per last ATO tax return)
• The property you're buying must also fall within the price cap for your area.

This initiative is your opportunity to get onto the property ladder now, without the pressure of saving a huge deposit.

Take that crucial first step towards home ownership with only a 5% deposit. Talk to us at @ ChatWithConfidence