Liberty Lends Support to Homebuyers With Side Hustles
First homebuyers are finding innovative ways to build their deposit faster - and Liberty can help put their property plans in motion.
MELBOURNE, Australia, July 18, 2023 (Newswire.com) - Despite cost-of-living pressures and a changing economic environment, Australians with property goals remain determined to reach them.
For some, a weekend job or side hustle is helping to build a home deposit faster. According to the Australian Bureau of Statistics (ABS), the number of working Australians with second jobs is at record high levels.
Non-bank lender Liberty is one of the leaders in the Australian mortgage space and works closely with borrowers looking to secure home loans for their property goals.
According to Head of Consumer Communications Kate Jenkinson, many Australians are searching for ways to increase their wealth and step out of the rental market.
"We know first homebuyers are still motivated by the long-term benefits of homeownership, and a side hustle is one way they could unlock borrowing potential sooner," Jenkinson said.
While traditional lenders may avoid borrowers with a less-than-regular income, specialist lenders like Liberty can look for different ways to confirm if income is sufficient for a home loan.
"Liberty takes a more free-thinking approach when calculating how much you can borrow and determining your ongoing income to support a new loan."
To help determine how much of a deposit borrowers need to save for their first home, Liberty says understanding your borrowing power is a smart first step.
"While online calculators are available to help with crunching the numbers, nothing beats having expert advice from the get-go," said Jenkinson.
According to Liberty, a mortgage broker such as a Liberty Adviser can guide borrowers through the process of exploring the home loans available to them.
"A broker can help you understand your options and also explore any government incentives to help you get into your new home sooner."
Approved applicants only. Lending criteria apply. Fees and charges are payable. Liberty Financial Pty Ltd ACN 077 248 983 and Secure Funding Pty Ltd ABN 25 081 982 872 Australian Credit Licence 388133, together trading as Liberty Financial. Liberty Advisers have access to a panel of lenders through Liberty Network Services Pty Ltd ABN 65 151 158 628 Australian Credit Licence 408042 (LNS). LNS has access to products including those from Liberty Financial.
Source: Liberty Financial