”First Home Buyers Think They Can Succeed!
Homeowners Think They Will Own Their
Queensland Property!”
Have You Thought it was Beyond Your Reach?

Many people have thought like you may have been lately. The increase in wages and salaries have not kept up with the increases in the price of homes. You may feel it is a loosing battle, trying to save, pay the rent that keeps increasing, and have a lifestyle that is rewarding. Tax breaks with one hand, reduced family benefits with the other?

You have heard the reports about major lenders and banks having more competition, and being easier to borrow from. You’ve seen the adds on TV about 100% home loans, they pay your first months rent, or double your first home owners grant.

You may be someone that already has a home loan and the worry about interest rates, rising fuel and food costs. Every week the shopping basket costs more, or you have less in it. A never ending, gnawing in the pit of your stomach that between all the bills, the mortgage, and the nagging uncertainty about job security, something is going to collapse.

How Does Your System Work For Home Ownership?

We are specialists in helping people into their own homes. We are a Buyer’s Agent for investors and home buyers. We also work closely with people to restructure their finances to achieve home ownership or improve their lifestyle.

We are facilitators who can inform you of hundreds of different loans contracts which may be available to you. These would be subject to your meeting lender criteria on income and deposit savings.

There are also our joint ventures, equity sharing, rent/buy, or vendor terms financing contracts. These plans are used as stepping stones to bank finance for home buyers. So, just briefly your home ownership financial needs can be met through FBP and Associates with:

1. Traditional Home Ownership with Bank Finance

There may be a situation where currently you just do not have enough time to attend to all the running around, detailed building inspections and audits required, or even negotiate with the Agent or vendor.

We understand life can be that way sometimes, often at the most inconvenient times too!

We can act as your Buyer’s Agent and do all the work on your behalf, to your criteria and specification. We can then do all the messy time consuming arrangements to assist you to submit your application to a financial institution or mortgage broker because we are also mortgage consultants. We have personal referral arrangements with several to tailor your application with the most appropriate lender.

2. Vendor Finance

You may be able to access our Vendor Finance pathway to home ownership very quickly.

A Vendor Financing arrangement is where we, or one of our Associate investors buys the house for you, and sells you the house on vendor financing terms at a fixed price. You have an exclusive contract for your home, but the title is in the investors name until you complete the contract.

A vendor financing arrangement may also qualify for the $7,000 First Home Owners Grant.

3. Rent to Buy

Our Rent to Buy pathway may be better suited to your needs. This is not finance, simply you move into the home now and, you have the freedom to decorate and improve the property, with an exclusive Option to Buy contract, setting an agreed price at a time in the future.

Up to the time you exercise your Option to Buy, your payments are called the license fee, and will be above local market rental. Part of this license fee, called rent credits, is credited to you. When you exercise your Option to Buy, these rent credits form part of the deposit on the property for bank finance.

This arrangement can be valuable as it may give you enough time to get your financial or employment house in order while you continue to save your deposit, or clean up your credit.

4. Bank Finance – the second round!

Because a bank or prime lender has knocked you back once, does not mean it is all over red rover! We can still assist you qualify for bank finance. Sometimes we can do so just by better preparing your application paperwork, and approaching another lender with your application.

On the other hand, if you do not quite qualify for bank finance now, we can help you prepare for it. By working with us on our Financial Fitness and Money Skills Program we can often help committed, determined people qualify for bank finance, often within 3 to 6 months.

Would Home Buyers Be Better Off Renting and Saving Up the Deposit?

It is up to you. In most major cities and towns the value of residential property, even though the market has flattened, is too high for people to match the increased savings needed.

Then there is the increasing pressure on rental prices. Unfortunately, we meet clients every week who have still not been able to save, no matter how focused and determined they have been.

If people stay renting, we hear the stories of people who have had a drastic event occur, and those deposit savings are gone.

Would Home Buyers Have Other Loan Options?

There are new loan products coming into the home lending market. This will likely increase as more and more people find it more and more difficult to fit the traditional loan types. Reverse Mortgages, Equity Mortgages and other products are becoming more common.

Some of these are a lot like the plans we can put together with people as rent/buy or vendor finance options. With one of our other options, you may have additional firepower - equity sharing – saving in the property itself!

”You have several credit cards and a car loan. You think
of rolling them into your mortgage to make things
manageable. You earn $65,000, but thanks to debt you are
living the life of someone on $80,000.”

What Fees Do You Charge?

We charge an Application and Administration Fee of $660 to home buyer applicant clients for rent/buy or vendor finance plans. If the application is not approved, the fee is 100% fully refunded to you.

For refinancing and debt consolidation loans, secured against property, we have low or no application fee facilities. It depends on which product can be best suited to your situation.

What Deposit is Needed?

That depends on your particular situation and on the home owner plan we can approve for you. Our Rent/Buy plan may only require a 2.5% - 5.0% deposit.

For refinancing and debt consolidation loans there isn’t a deposit required, and application or administration fees may be very low, or have none at all.

Would a Home Buyer Be Better Off Going to a ‘Sub Prime’ Lender?

A sub prime lender is a special type of lender who works with people who have had financial problems in the past, who are usually self employed, or have had their own business for less than two years. Prime lenders may not lend to you if you have had some black credit marks for instance, whereas a sub-prime lender sometimes will.

They do require a larger deposit, usually 20% or more! Some people who approach us do not have a big deposit; therefore, sub prime lending options will usually not work.

If you could in your particular situation, we will inform you of the potential, and assist with applications, paperwork and approval process.

What Steps Do We Need to Take With FBP and Associates?

STEP 1 is for you to Register online, or fill out and fax back the enquiry form.  We can set up an interview, and you can pay the Application and Administration Fee of $660.00 and have your application assessed. This fee will be 100% fully refunded to you if your application is not approved.

For refinancing we can take a similar approach, or you can submit an application enquiry directly to us, or one of our online facilities for direct advice.

STEP 2 is for you and us to go looking for a house that suits your needs.

STEP 3 is to negotiate, purchase and settle on the house. We do these two things concurrently with our investor, in order to achieve the best possible price, and have the access to the property for you as early as possible.

STEP 4 is when you sign your contracts with us, make all the moving arrangements, before you move into your home! This is usually when you will pay your deposit.

STEP 5 is when you refinance to bank or main stream mortgage. We will do all we can to assist you to prepare for that, and achieve it at the most appropriate time. It may be anywhere 13 months to 5 years. On average it is usually between 18 and 36 months.

How Long Do These Steps Take to Complete?

It depends on the particular situation. It could be as quick as a few weeks to get to Step 3 or 4. The main thing is for you to have your financial house in good working order. The last thing we want is for you to buy a home too soon. That is why we give so much emphasis to ‘Financial Fitness’.

Being registered with FBP and Associates, and having paid the Application and Administration Fee if you’re in one of our home ownership plans, means that you are on your way to owning your own home!

Should a Home Buyer Apply for Your Plan or Wait For Bank Finance?

This is a hard question to answer. Generally we would say that if it is likely that you can qualify for bank finance in the near future (say, within 6 months) then it would be better to wait, and for you to take the bank finance option. We can help you with that preparation with our financial fitness program.

On the other hand, if bank finance is not likely to be approved in the short term (say, longer than 12 months) we recommend that clients seriously consider one of our Rent/Buy or other home ownership plans. More Questions?

Contact  FBP and Associates today or Register now!