This product is also referred to as a 'No Deposit' loan and as the name implies the lender will advance the full purchase price of the property.
This product is ideal for people who earn a good income but have been unable to save the 5%-10% needed by lenders as a deposit.
This product is ideal for the first homebuyer as they are currently able to obtain concessions on stamp duty and possibly the First Homeowners Grant from the federal government.
The interest rate for this product is higher because the lender is taking on more risk. The Keystone Mortgages 100% product gives people a chance to enter the property market and start building equity in a home.
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First Home Buyer Survey
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