Purchase First Home
106% LVR | Family Guarantee
Background
Duo Finance supported a first-home buyer in Port Melbourne by structuring a loan with no deposit required, thanks to a family guarantee. The client aimed to enter the property market without the burden of saving a large deposit, while still accessing competitive lending options through a major bank.
The Deal
- Location: Port Melbourne, VIC
- LVR: 106%
- Loan Type: First Home Purchase
- Lender: Major Bank
- Extra Security: Family Guarantee
The Win
- Enabled full purchase funding with no deposit via family guarantee.
- Access to major bank lending with strong product features.
- Supported first-home ownership in a high-demand suburb.
Duo Finance delivered a strategic lending solution that empowered the client to purchase their first home in Port Melbourne with 100% financing. By leveraging a family guarantee with parents happily offering their home as security for the loan. We worked with a major bank, the client achieved homeownership without upfront capital whilst demonstrating that they can comfortably meet the repayments. The end strategy is to aggressively pay down the loan in the first three years with the aim to reduce the loan balance and with the potential capital growth of the home, be able to release the parents’ home as security when the LVR sits at 80%. Duo Finance continues to use lending pathways that make property ownership more accessible.