Simple steps to own your first home sooner First Home Buyers Guide

C onFidenCe in your FinanCial Fu ture.

Welcome & Introduction 1

The Basics of Buying a Home 2

Saving & Borrowing 3

Budgeting 4

Your Home Deposit 5

Government support (NSW) 5

Financing Your Home Purchase 6

Selecting a Loan 7

Applying for a Home Loan 8

Role of a Mortgage Broker 9

Buying a Property 10

Source of funds

Loan types & process

Home Purchase Process 11

Auctions

Private Treaty

Expressions of Interest

Making an Offer 13

Exchanging Contracts 14

Settlement 16

Meet Mentor1 17

About Mentor1 18

Contents

Information in this ebook is not a substitute for financial advice. It is general and does not take into account your personal objectives, financial situation or needs.

When you consider buying a financial product, you should obtain the relevant Product Disclosure Statement (PDS) and read it before you make any decisions.

As the information we provide here is not specific to you, we cannot accept responsibility for any actions you chose to take without first getting advice from a licensed financial adviser.

Mentor1 Mortgage Broking License

Corporate Credit Representative

Advantedge Financial Solutions Pty Ltd (ABN 64 117 551 292) Credit Representative Number 392534

Licensee BLSSA Pty Ltd ACN 117 651 760 (“BLSSA”) Australian Credit Licence Number: 391237 Level 10, 101 Collins St Melbourne VIC 3000 Tel: 03 8616 1000 Fax: 03 8616 1677

Broker Group Professional Lenders Association Network of Australia Pty Ltd (“broker group”) ACN 086 490 833 Credit Representative Number: 392535

DKG Financial Services Pty Ltd, ACN 075 585 876 is an Authorised Representative of GWM Adviser Services Limited, Australian Financial Services Licensee, 105-153 Miller Street, North Sydney NSW 2060.

DKG Financial Services Pty Ltd, ABN 33 552 292 080 trading as Mentor1 Financial Planning is an Authorised Representative of GWM Advisor Services Limited, ABN 96 002 071 749 trading as Garvan Financial Planning.

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Well done on your first step!Thank you for downloading and reviewing this eBook. We hope what you read here gives you a good starting point to plan for your first home purchase. It is likely to be the biggest investment you make and is an important step for your financial future.

To help prepare you for this important event, this guide gives you a simple, straightforward overview of the home purchase process, from saving a deposit to moving in. Remember, you can contact us anytime with questions.

Your consultation with our Mentor1 property finance manager is on us. No obligation, we’ll focus on getting to know your financial situation and your objectives. Give us a call today to make a complimentary appointment on 1300 765 811.

Liam Diggin Dip FP GC (FP) CFPPrincipalMentor1Financial Planning

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Over $8 billion helped first home buyers to date

The NSW government regularly

tracks performance of their First

Home Buyers Grant Scheme

since inception in 2000. You can

see performance per suburb for

the top twenty areas in NSW in a

First Home Benefits Table.

This guide gives you details on

page 5 (Deposit).

The Basics of Buying a HomeBuying your first home is a practical investment. Not only are you providing yourself or your family with a place to live, you’re essentially paying yourself instead of a landlord. You’re also taking control over the place you live in – you no longer have to ask permission when you want to touch up the paintwork.

A lot depends on how you start. By investing time up-front in planning, budgeting and preparation, you will avoid costly mistakes down the road. This guide lays groundwork of what you need to think about when buying a home.

How much can you borrowLooking at For Sale signs on front lawns or in unit windows feels like the place to start to make your home-buying dreams come true, right? Not really.

Before you go shopping you need to estimate how much money you’ll have to spend on your home. This is a combination of the deposit you can save and what the lender is prepared to lend you.

Start with a review of what money you have on hand and your savings potential, to estimate what you’ll have as a deposit within a realistic time frame.

Then work out how much you can borrow. A good rule of thumb is that you can borrow up to five times your gross salary. It’s also important to bear in mind that a lender may only lend up to 95% of the value of the property.

Before you spend it all, remember you’ll need to reserve some funds to cover the costs associated with the purchase such as stamp duty and conveyancing - around 4.5% of the purchase price.

Example of a Borrowing Formula: Cash in hand 50,000

Savings prior to purchase 30,000

Plus allowable borrowings 475,000

- Assume gross income 95,000 x

- Multiplier 5

- Allowable borrowings 475,000

555,000

Less Purchase expenses @4.5% 25,000

Value of Property 530,000

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Helpful eBooks from Mentor1

Want more detailed help on budgeting, insurance or financial planning? Download our other Mentor1 eBooks.

• How to protect your lifestyle from the unexpected - The Personal Insurance Guide

• Simple steps to own your first home sooner - The First Home Buyer’s Guide

• Smart ideas to be mortgage free - The Mortgage Reduction Guide

• How planning now will put time on your side - Financial Planning for Young Families Guide

• Counting down toward a better retirement - The Retirement Guide

• You can take back real control of your finances - The Successful Saving & Budgeting Guide

Please note that this is an approximate example based on purchasing an existing property. If you were to purchase a new property under the First Home Buyer’s scheme, your purchase expenses could be substantially less – through up to $20,240 savings in stamp duty. (See next section)

Now you know what you can spend, it’s time to measure this up against the areas you want to live in and narrow down the properties that are in your range.

As simple as it sounds, it takes planning – especially because saving is such an important part of the equation to make your first home purchase a reality.

Saving and Borrowing: tips to successful budgetsManaging your debt will be an important part of your long-term wealth creation. By saving a bigger deposit and paying off your loans promptly, you increase your ability to accumulate funds for investments and retirement. A budget is a critical tool to help you get there.

A budget is simply a financial framework you agree to live within. Record your expenses and fixed costs for day-to-day living, including rent, utility bills, groceries, credit cards, transport and incidentals. Review your expenses to see where you can save money with the least pain.

When you approach a bank for a loan, they will be looking at your spending behaviour – specifically, your track record of three to six months savings with regular and consistent deposits.

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Build a Budget as a HomeownerNew or unexpected expenses will affect your budget as a homeowner. Many people fail to life changes or economic fluctuations and find themselves facing financial hardship trying to repay a mortgage and maintain their standard of living.

Here are a few things to consider when creating a realistic homeowner budget.

• Repayment ability based on your income. Consider your career goals but also take into account job stability and potential loss of income, even for a short period.

• Repayment fluctuations. Interest rates change from time to time

• Set-up expenses. To cover moving, new appliances, furniture or alterations.

• Ongoing expenses. You’ll need to allocate money to cover council rates, taxes, insurances and utilities in your regular budget.

• Repairs and maintenance. From home essentials like painting to unexpected plumbing or electrical repairs now and in the future.

• Potential loss of income. Your spouse may leave work to have a child.

6 Ways to Budget Wisely

1. Track expenses regularly. Use spreadsheets or a logbook.

2. Aim to reduce the most flexible areas each month.

3. Save with group buying (quantity) and strict lists

4. Consider extra income opportunities (to add to savings)

5. Compare prices or get quotes on all larger purchases

6. Set aside as much as possible in an ‘untouchable’ account

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Your Home DepositOne of the most important things you can do is to ‘cash up’ for as big a home deposit as you can muster. Whether you ramp up your savings, take on an extra job, or sell personal possessions, it’s good to add to your financial nest egg to gain leverage for a deposit with at least 10 to 15% of a home purchase price. Remember, the bank will want to see that you’ve generated some of this – say 5% – from regular savings.

Saving the DepositSaving takes discipline – and a bit of shopping around. Depending on your time frame, different accounts offer advantages for both short and long-term savings.

Look for savings or deposit accounts that have no fees and offer the best interest rate. Term deposits usually offer competitive returns over 6 to 12 months minimum when you have at least $5,000 or more. Online accounts are also good ways to keep funds ‘out of sight’ yet in mind for your home deposit. See the InfoChoice online Savings Accounts Comparison Table here.

No matter how you choose to save, it’s important to do it. If you’re planning a home purchase with a spouse or partner, start a savings strategy together. Make a habit of reviewing performance of returns (interest earned) on your nest egg.

Government Support in NSWAn advantage to first home buyers in NSW is the First Home Owner Grant Scheme which can provide a Government grant of $15,000 for the purchase of a new home (replacing the $7,000 First Home Owner Grant since October 2012). Stamp Duty exemptions are also available, depending on the home you plan to purchase or build. Details are available online, along with helpful planning tools and calculators from the NSW Office of Revenue.

NSW First Home Benefits now on

A quick overview of NSW First Home Benefits along with Duty exemptions and eligibility requirements are available here on YouTube.

Larger deposit means less debt

As simple as it sounds, saving a sizable deposit is usually the biggest challenge facing first home buyers. But consider that every $5,000 you save for a deposit is potentially worth over $11,000* in reduced repayments over the term of your mortgage.

*This calculation is based on an interest rate of 6.29% (comparison rate) over a 30 years loan term.

This equation shows how your early repayments are a small portion to pay off your loan, most of which goes toward interest for ten years or more. Talk to a Mortgage Broker for details.

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Financing your Home PurchaseThe choice is yoursBorrowing hundreds of thousands of dollars for your first home may sound daunting, but be assured you have a choice of finance. The lending market is keen to win your business.

Brokers or agents (including a team of mortgage finance specialists at Mentor1) can be a big help to explore your best options and negotiate the right loan terms. It can become a paperwork jungle, so it’s best to get good advice from the beginning.

Lenders and BrokersOver the last decade, the mortgage market has opened up in Australia to offer home buyers much greater choice. Along with this choice comes greater responsibility to understand the various types of loans on offer, terms and conditions, so ask for detailed explanations on any area you may not understand.

Traditionally banks are lenders (also count Building Societies or Credit Unions). Private or non-bank lenders are available, each with advantages or limitations. Banks carry the lion share of mortgages in this country; but you do not have to have all your accounts with one institution. On the contrary, it makes a lot of sense to shop around.

This is where a Mortgage Broker becomes an asset and an ally. Brokers work for you, not the lender and can save a considerable amount of time and money doing the legwork of mortgage selection and application. This includes knowing lender requirements and who best suits you and the amount you can borrow.

Mortgages have doubled in last decade

Despite the recent ups and downs of the economy, lenders continue to do well. In the past year up to March 2013, the mortgage market in Australia has grown by 4.3% to $1.278 trillion. There is no shortage of lenders who are aggressively looking for a share in this massive capital pool. – The Australian, 13 May 2013

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Selecting a loan to suit youBecome familiar with the working terms of home loans. All the major banks provide helpful guides online or in-branch to educate first home buyers about the type of mortgage options available.

Allsorts of Home Loans • Standard Variable Rate Home Loan – an interest rate that can

increase or decrease depending on decisions by the Reserve Bank and the lender. Generally you can make unlimited extra repayments, can have an Offset account linked, access to redraw and depending on the loan amount, discounts off the advertised interest rate.

• Fixed Rate Home Loan – a set interest rate for a determined period of time. Fixed rates are generally set for a period of 1 to 5 years and during this time the rate will not move regardless of the Reserve Bank moving interest rates. Restrictions apply on making additional repayments and break costs may apply.

• Interest Only Home Loan – ability to make interest repayments only for a set period, however can generally also make additional repayments without penalty.

• Honeymoon Home Loan – receive a discount interest rate for an introductory period of between 1 to 3 years, after which the interest rate usually returns to the normal rate.

• Line of Credit Home Loan – a lending limit with interest only repayments for the life of the loan. Ability to pay down and draw back up to the limit.

• Lo Doc Home Loan – available for self employed borrowers where the current income is not supported by lodged tax returns.

• Non-conforming borrowers Home Loan – for applicants with an impaired credit history. This style of loan will attract a higher interest rate due to the perceived risk the borrower presents.

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Features to make life easierMost lenders will have home loan packages or a list of optional features to include with your mortgage. While some of these incur a fee or raise or lower your interest rate, they are each worth considering.

• Offset Account where your available savings are linked to your mortgage account and rather than earning interest, reduce the interest expense.

• Redraw facility gives you the option to pay more into your home loan when you have it, withdraw money when you need it. Maybe to fund some renovations or take a holiday.

• Split Rate home loans split your loan, with part fixed and part variable. Gives you the repayment certainty of a fixed rate with the option of early repayment, or an offset account that comes with a variable rate.

• Credit Cards can be linked to an offset account. Often the bank is happy to provide a fee free credit card because of the value of the mortgage you have placed with them.

Note: Mortgage Insurance may be required by the lender when borrowings exceed 80% of property value. This provides insurance to the lender should you default and, as a result, the home is sold for less than the value borrowed on it. It does not cover any shortfall the borrower suffers. It essentially protects the bank, not you, the borrower.

Applying for a home loanWhen you are ready to visit your choice of lender or broker, you will need to provide a fair amount of documentation – so be prepared. It can also take a while, so allow for up to six weeks to get to settlement.

What you need to provideRequirements vary – but typically lenders require the following:

• Evidence of income

- Salaried employees – two current pay-slips and PAYG payment summary

- Self-employed – last two years tax returns, financial statements and notice of assessments

• Savings History – six months of bank statements to demonstrate savings record

• ID – valid drivers licence or passport and secondary ID (Medicare card etc.)

• Property details – front page of purchase contract for chosen property

We currently offer mortgages through:ANZ

BankWest

CBA

Liberty

Macquarie Bank

NAB

Homeside Lending

PLAN Lending

Newcastle Permanent

St George

Suncorp

Westpac

Lenders to be added in 2013:Adelaide Bank *

AMP

Citibank

ING

LaTrobe *

Pepper *

Resi *

Wide Bay Australia *

* specialise in the non conforming market

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Role for a Mortgage BrokerA mortgage broker can be a great help in managing the borrowing process end to end. Most competent brokers can help you:

• Work out your borrowing needs short, medium and long term

• Work out a strategy for the best type of products to meet your need

• Understand different lender & product options suitable for their lending needs, including things like:

- Rates & features – beyond the price differences – what other features may they have

- Lending policies – how are they likely to affect you?

- Responsiveness & turn-around times – will they react within your purchase timeframe?

- After settlement service – can you contact them easily? Do they have branches or are they staffed by a call centre only?

• Manage the application, approval and settlement process

They can also reduce paperwork for you, for example by using a single application for multiple lenders.

Planning your TimelineThere’s a lot involved in getting a home loan through from start to finish and it doesn’t happen overnight. These are key steps in the lending process and the time you should allow for each:

• Conditional approval – up to seven business days

• From Conditional to Unconditional – up to five business days.

• (Contract exchange occurs at this point)

• Loan documentation – further ten business days

• Settlement – usually 42 days after the contract exchange

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Buying a PropertyDo your HOMEwork• Before you set off to find a home, make sure you have a pre-approval

from your lender so you are clear on what can afford. This is usually part of the Home Loan Application process (see page 8) and offers a conditional approval based on personal and financial information you have provided.

Here are a few helpful ways to be well prepared when you’re first home hunting.

• Match your budget to location – where you want to live may not be where you can afford to live. Be flexible with your first home; look at surrounding suburbs to your ideal location or consider a new, untapped area.

• Inspection logs – Keep track of every home you inspect with dates, photos and short notes. What did you like, what didn’t suit, price, location and any relevant details

• Use online search tools – Use real estate networks, local newspapers and of course, the big home sales portals like domain.com to compare prices and features.

• Put Agents to work – while agents earn commissions from sellers, they need to find buyers, so build relationships with agents in the area you want.

• Price history check-up – means finding out the sales history for a property that interests you. It’s all here at On The House.

• List your priorities – big yard versus big kitchen. First make a wish list, then see how homes stack up against it.

• Get to know the area – find out about local features like transport, schools, shopping, noise, etc. Keep in mind not only your needs but also the needs of potential buyers when you’re ready to sell.

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Home Purchase ProcessFrom first offer to final sale, know what’s aheadThere are a number of ways to buy or sell a home, but in the end they are all just different ways of bringing buyers and sellers together to set a sale price. However, bear in mind that the way homes are marketed can greatly affect your buying experience. Get to know the differences.

AuctionsA set time and place –either at the home or a public venue –interested buyers are invited to make offers on the home, subject to meeting the seller’s minimum sale price.

Preparation: Potential buyers need to have finance arranged or “conditionally approved” subject to valuation and complete inspections such as pest and building prior to auction. Should you be successful, you will need to pay your 10% deposit at the auction and there is no cooling off period.

Potential risks include:

• If you are successful -- the bank’s valuation could come in lower than your purchase price.

• If you are unsuccessful – you’ve outlaid expenses for pest and building inspections you no longer need.

Tip: The selling agent will provide a sale price guide to suggest the property price range, however some agents will under-call price to encourage more active bidders in the auction and the price may be exceeded on the opening bid. Golden rule: know your market and do your research on recent sale prices of similar properties in the area.

Private treatyA seller will ask a specific sale price or ‘Offers from’ price guide. This style of purchase generally gives the purchaser more negotiating power and less pressure than the frenzy of an auction. It’s entirely up to you to make a purchase price offer with the agent.

How much is

Stamp Duty?

First Home Buyers may

be entitled to stamp duty

concessions. Use this link to the

NSW Office of State Revenue to

see if your purchase is eligible

for a Stamp Duty concession.

If you need to factor Stamp Duty

in your home purchase, use

this link to Calculate your

Stamp Duty.

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Potential risks are around misreading the interest in the property:

• Under-calling competition - things are moving slowly when suddenly a new buyer appears and snaps the property from under you.

• Getting anxious – making too generous an offer because of “phantom” competitors. Beware, agents will sometimes work hard to create the impression of competition even when there is none.

Tips: There is often some room to move with listed prices. Look at comparable properties and check how long this property has been on the market. Consider how much excitement you see at Open Houses but generally move at your own pace. There are many kinds of offer strategies: from a “first and final” offer to starting with a lowball offer and dealing with several rounds of to-ing and fro-ing.

Expressions of InterestA form of Private Treaty without an advertised purchase price. The seller and selling agent have a fair idea of the price they want, but are playing their cards close to their chest to invite potential buyers to make offers. The selling agent may give you an indication if your verbal offer is close (with no obligation) or give some rough guide of where the offer should be to stand a chance at purchase.

The risks and negotiating tips are similar here as for Private Treaty sales.

Understand the Contract Once you’ve chosen a property and before you make an offer, it’s important to get expert advice on the contract for sale. This is generally provided by a conveyancing specialist or a property solicitor. This step is crucial to ensure you understand the terms under which the property is to be sold. They will help you understand:

• Any caveats or encumbrances on the property

• Covenants or easements

• Property boundary disputes

• If the property is as DA approved

• If any body corporate fees or special levies are outstanding

• Need for pest, building & strata reports

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Time to make an offerYou found the perfect home! You’ve inspected it, sourced details from the agent and through your sleuthing and are prepared to move forward.

If you’re eager to put in an offer before your solicitor has reviewed the contract, a Conditional Offer – ‘Subject to Contract’ is usually acceptable to allow time for your solicitor.

The same Conditional Offer can be made ‘Subject to Inspection for Building Condition and Pests’. This is highly recommended in all cases to determine what structural damage or concern could be out of view, known only to professional builders or exterminators.

The offer is about more than dollarsBefore you put a dollar figure on offer, consider assets to play to your advantage.

• Are you willing to settle quickly, freeing up the owner to move on?

• Can you meet other timing requirements by the owner?

• Can you identify work required and set a dollar value to it? (To lower price)

• Are you the only offer on the table? And in how long?

• Any other creative options? Can you lease the property back to the owner for a period?

Each of these items carries weight along with offer price. Discuss options with your solicitor and make the best offer you possibly can. Once you’re happy, you ‘exchange contracts’ (next section) with the seller along with a deposit.

Recognise that no matter what offer you make, you are entitled to a five-day cooling off period (as is the seller) during which time you can retract or adjust the offer. This allows time for your solicitor to perform searches on the property title and any other legal concerns or restrictions.

Alternatives to buying in your nameSometimes there are advantages to buying a home through a Trust or a company. Speak to your financial advisor or accountant. This also applies when buying with a partner: should both names be on the title or only one? Some lenders may require all borrowers to be on the title. Individual circumstances apply so it’s wise to get advice before you decide.

Suss out inclusions

When inspecting a home, be sure to ask about inclusions. Generally anything fixed is included (light fittings, certain appliances, anything in-built) but it never hurts to ask so as to be sure.

In some instances, owners may prefer to include movable items in the sale price (like refrigerators or furnishings) if they’ve been specifically matched to the home. Again, if they’re not, feel free to make an offer to include them. It could save you money when moving day comes around.

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Exchanging contractsThe paper trail begins: The Exchange In the case of an auction, exchange occurs immediately after the auction. By making the winning bid you’ve committed yourself to exchange and will need to have the deposit ready to hand over immediately after the auction. There is no cooling off period.

For private treaty sales and expressions of interest, once the offer is accepted by the vendor - with your solicitor mindful of all details - a Contract of Sale is issued for you and the seller. This is your final opportunity to look over any special terms and conditions. This may include:

• Subject to finance

• Subject to pest and building inspections

• Subject to sale/purchase of another property

• Inclusions or exclusions listed specifically

• Condition of home upon purchase (repairs noted)

• Settlement date (moving in)

Once both parties agree to the Contract of Sale, you and the seller each sign it and you either:

(a) pay a non refundable deposit of 0.25% of the purchase price to take the property off the market. This kicks off the cooling off period of generally 5 business days (this can be negotiated for longer). During this time you would complete your pest, building and strata inspections and the bank would value the property. At the end of the cooling off period, you should have your unconditional approval for finance from the bank/lender and would then pay the remainder of the deposit, ie, 9.75% to complete the full 10% deposit

or

(b) sign a 66W certificate which waives the purchaser’s cooling off period. This is often proposed by selling agents and rarely supported by the buyer’s advisers. If you were considering a 66w, it would be wise to complete your inspections prior to signing and be very confident about your borrowings. Much like an auction, the bank valuation is completed after a contract has been entered into (with the risk of a lower valuation). Be aware of the risks of exchanging contracts without unconditional approval from your bank or lender first.

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Your deposit will be held in trust by the agent or seller (often invested in an interest-earning account) until settlement. BEWARE this deposit is generally non-refundable and unless otherwise negotiated, will be lost if you fail to proceed.

The Cooling Off period begins: generally for the next five business days to allow both parties any inspections or to otherwise meet conditions of sale. Time can be tight at this stage, to line up professionals as required for pest or building inspections and lender valuations. You may want to seek a longer cooling off period to ease the pressure.

At the end of the cooling off period, contracts will be exchanged and you will be required to pay the remaining 9.75% making up the 10% deposit. Again this is held in trust until settlement.

If you do not have a 10% deposit you may

• Negotiate a 5% deposit

• Apply for a deposit bond through your lender or broker

Interim InsuranceAs the buyer of the home, you will need to arrange property insurance from the date of exchange. This protects you from liability or expenses should any accidental damage occur while the property sale is underway.

The insurer will issue you a Cover Note–often via email or a phone call – and you will have up to 28 days to agree to policy terms and pay the insurance premium.

Review your Personal Insurance*

To help meet your obligations as a new homeowner, now is a good time to review your personal insurance to ensure you’re covered for any unforeseen events or illness. This can help protect your family financially in your new home.

Look over our Mentor1 eBook, How to protect your lifestyle from the unexpected - The Personal Insurance Guide or speak to us about our advisory services for insurance cover.

*DKG Financial Services Pty Ltd ABN 33 552 292 080 trading as Mentor1 Financial Planning is an Authorised Representative of GWM Advisor Services Limited, ABN 96 002 071 749 trading as Garvan Financial Planning.

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SettlementThe time between purchase and moving inOnce the Contract of Sale is exchanged, the next step is to have the Contract Stamped. Your solicitor or conveyancer will arrange this and calculate your stamp duty obligations.

Between the time you’ve made the offer until final purchase and settlement, your solicitor or conveyancer will have been reviewing the purchase contract and guiding you towards settlement. This includes working with the vendor’s lawyers, advising and outlining Government Fees and Charges, advising the funds you will need to contribute from your savings to complete the purchase and speaking with the bank to arrange the actual settlement.

You have three months from the contract date to pay settlement, or sooner if you have negotiated a shorter settlement.

During the period between Contract Exchange and Settlement, unless negotiated otherwise with the seller, you are responsible for property expenses relating to rates and taxes and sometimes utilities. These costs cannot be part of your home loan. Your solicitor (or conveyancer) will provide an itemized statement for funds required. You will need to pay these at settlement.

The final days leading up to SettlementBe sure to inspect the premises and property immediately before settlement to see no damage has occurred and that all inclusions or provisions have been met.

On settlement day your lender may send a representative to make the final property payment as long as you have deposited the difference required between the loan amount and the settlement funds.

You are then ready for the final legal transfer where all documents are exchanged between your solicitor/conveyancer and the property agent or owner. The keys are yours!

After settlement be sure the title shows you as the new owner – part of the conveyancer’s service and double-check any final legal requirements.

Moving inYou did it! Now you’re ready to make your new house or unit a home.

• Removalists often provide helpful checklists for moving. Big time-savers!

• Go on record at your new address:

- Change of address (Australia Post has a simple process for this)

- Change of electoral registration

- Workplace notification

- Telephone/mobile/internet service

- Cable television services

- Any regular delivery services

• Keep to a budget without overspending to ‘dress up’ your new home.

• Arrange adequate life insurance cover. Speak to a financial adviser.

Enjoy your new home!

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Meet Mentor1Want to talk about owning your first home?Think about speaking with a mortgage expert to explore your options. We’d be happy to see you!

Please come in for your complimentary appointment with a Mentor 1 property finance expert. Just visit our Contact Us page, or give us a call on 1300 765 811.

What Mentor 1 can do for you Mentor1 Property Finance will focus on you and your family’s needs. We’ll talk about what you really want out of life and build a mortgage strategy around that.

We’ll help you understand

• Your borrowing needs short, medium and long term

• The appropriate type of financial products to meet your needs

• Different lender and product options suitable for your needs

• The correct lending structure to provide maximum flexibility and to compliment your financial strategy.

If you progress, then we’ll manage the application, approval and settlement process from beginning to end.

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About Mentor1 Financial PlanningMentor1 financial planners offer professional advice. Advice that looks at your current needs and immediate goals, all balanced with a future plan.

Like you, your financial plan will be unique, considering your personal goals and needs.

We’ll go over your options with you and you decide what you’d like to do. We will then implement your plan and regularly report back to you.

Best of all, we speak your language. We take the complexity out of financial strategy to make it clear, smart and sensible.

Getting to know youIn the first complimentary session we get to know each other and give you a solid understanding of what to expect from us.

We’ll give you a few ideas to think about, along with some financial strategies you might like to consider.

What our customers say about usThe best recommendations come from the people who already count on us. View our client comments and videos on our website to listen to their whole story.

Liam Diggin, is the principal financial planner at Mentor. As a qualified planner for over 20 years, he’s had extensive experience creating wealth for his clients and protecting their assets for the future.

Want to get in touch?Phone: 1300 765 811 or (02) 9925 5800Fax: (02) 9954 6609253 Pacific HighwayNorth Sydney NSW 2060Or visit www.mentor1.com.au

DKG Financial Services Pty Ltd, ABN 33 552 292 080 trading as Mentor1 Financial Planning is an Authorised Representative of GWM Advisor Services Limited, ABN 96 002 071 749 trading as Garvan Financial Planning.