A model approval.
When the rent on Iain and Suzanne's home in the suburbs of Melbourne went up dramatically, the couple didn’t know where to turn.
Suzanne is a full-time parent to two-year old daughter, Bella, and Iain is a freelance scale model builder. Even with supplementary work as a teacher, his income was low.
‘My mother decided to help us out with a deposit to buy a house,’ says Iain. ‘But with a sporadic, low income we knew we couldn’t get a place in Melbourne.’
The couple decided to look in Ballarat, about an hour and a half from Melbourne, where Iain was brought up and his family still live. ‘Originally we called another broker but we weren’t happy with his approach,’ says Iain. ‘His suggestions were about getting around the system and I was nervous about bending the truth.’
Then Iain found Smartline’s website. ‘Their glossary was very useful, so I gave them a call and they referred me to Smartline Adviser Stuart Morrow. He was terrific, very professional with a good feel about him. I told him about the other broker and he said ‘you don't need to do that’. He got me to estimate my income and he put it through his calculator and discovered the CBA would do it. We felt much more confident doing it straight-up.’
Stuart says no Smartline Adviser would do anything that wasn't straight up. ‘The loan was based on Iain’s income from teaching and other employment,’ Stuart explains. ‘There were no lies. We never tell clients what to put on these Low Doc forms. They tell us what their income is, then we tell them what that can service.’
Once Stuart had sorted out the loan, Iain and Suzanne bought a comfortable three-bedroom house in the suburbs of Ballarat, complete with a shed for Iain's equipment and an enclosed deck that is an ideal play area for Bella!
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buying my first home
