New home, old boat.
When Smartline Adviser Garry King first visited Anthony and Melanie and their 12-year old son, Billy, to discuss a home loan both he and Melanie knew they had a challenge ahead of them.
'We had a very bad credit rating and no savings,' says Melanie and even Garry admits: 'things didn't look good.'
Garry was straight with Anthony and Melanie about what they needed to do before even thinking about a home loan. 'I told them to clear what was owing before looking at a loan and they had to get some deposit together,' he says.
'Garry set us up on a plan of paying the debts, making weekly payments,' said Melanie. 'He told us to contact him when we had paid it off.'
Anthony and Melanie took Garry's advice seriously. They really wanted their own home. 'It was a dream,' said Melanie. 'Especially with Billy – it's something for him down the track.'
With a new job for Anthony and a part-time job for Melanie, plus serious cutbacks, the couple paid off their debts within six months. However, even with the First Home Owners' Grant, they needed a bigger deposit. Garry had a difficult suggestion for the water-skiing lovers – that they should sell their boat.
The couple were so determined to own their first home that that was exactly what they did. Shortly afterwards, they got their home loan and bought a three-bedroom house in Devonport.
A few things have changed in the two years since Garry first met Anthony and Melanie. For a start, the boat is back in the driveway.
'We've refinanced,' says Garry. 'Anthony missed the boat so much they had to get another loan to get the boat back!'
With more stable finances Anthony and Melanie can afford both boat and house. They remain grateful to Garry.
'Without Garry we wouldn't have it,' says Melanie.
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buying my first home
