Situation
Raj, a first-time home buyer, recently relocated from New Zealand to Melbourne. He aimed to purchase his first home in Australia while continuing his employment with an Australian company. With a stable job history and all necessary documentation from New Zealand, Raj was enthusiastic about settling into his new city.
Problem
Raj encountered a significant challenge: most major Australian lenders were unwilling to accept income documentation from New Zealand as valid proof for securing a home loan. This presented a major obstacle in his quest to purchase a property. Faced with this issue, Raj reached out to Release Mortgage to seek expert assistance in overcoming this hurdle.
Solution
At Release Mortgage, we leveraged our extensive network alongside the relationships we've built with multiple lenders to find a solution. Our team identified a lender who accepted Raj's New Zealand income documents, allowing us to proceed with his home loan application.
Outcome
Raj received a smooth approval for his home loan, allowing him to proceed with the settlement process without delays. He successfully purchased an apartment in Melbourne’s CBD, marking a seamless transition to his new home.
Strategic Approach to Ensuring a Smooth Home Loan Process
We took several key steps to ensure a smooth process:
- Secured Lender Acceptance — We worked diligently to find a lender willing to consider Raj’s NZ income documentation, facilitating a quick approval process for his home loan.
- Competitive Rate — By negotiating on Raj’s behalf, we secured a competitive interest rate, ensuring that his mortgage terms were favourable and aligned with his financial goals.
- Streamlined Stamp Duty Exemption — We guided Raj through the Stamp Duty Exemption process, simplifying the steps and ensuring he took full advantage of any applicable savings.
