Five ways to fast track your home deposit

Saving for your first home can seem like hard work, but with the right help – it doesn’t need to be. Here are some tips to help you get a hold of your deposit sooner.

1. Plan ahead

First things first – speak to a professional. A Liberty Adviser can help you work out exactly how much you can borrow and how much you need to save.

2. Make a budget

Once you’ve set a savings goal, start your budget review your bank statements to see what you can cut down and cut out.

Remember – lenders will look at your statements when assessing your loan application, so try to keep unnecessary spending to a minimum.

3. Reduce other debts

If you’re already juggling existing loans, consolidating your debts could help.

One loan means one easy-to-manage repayment and could leave you paying less interest – so it’s worth asking an expert if this is the right move for you.

4. Helping hand

Whether it’s a First Home Loan Deposit Scheme, government grant or stamp duty concession, there are lots of options to help you save.

5. Ask for help

To find out how you can fast-track your home-ownership goal, contact a Liberty Adviser today.