117 Lava St Warrnambool, Vic 3280
Land Assistance Program
South West Credit is Warrnambool’s only Financial Institution with ADI status, that is truly local and we are offering a special Land Assistance Program. The Land Assistance Program provides you with financial support to help you take the first step into the housing market.
How does the program work?
Our Land Assistance Program allows you to borrow up to 90% of the land value, with the Guarantor assisting with the final 10% (NB – Guarantor is sourced by South West Credit).
For example, Bill comes into South West Credit wanting to purchase a block of land valued at $150,000; however he does not have the 20% deposit required to avoid Mortgage Insurance. We have assessed Bill and he has good steady income and meets our lending criteria, however he doesn’t have enough deposit.
Through the Land Assistance Program, Bill would be able to purchase a block of land with the Guarantor securing the final 10% deposit that would usually be required, see below:
This can be a great option for people looking to build a new home in the future. By paying off your block of land, you’re building equity to use for when you want to build.
To find our more about our Land Assistance Program, contact one of our Lending Specialists on (03) 5560 3900 or email firstname.lastname@example.org.
This offer is only available for new land releases with Land in Warrnambool.
© 2014 South West Credit Union Co-operative Limited | Warrnambool | ABN 44 087 651 705 | AFSL / Australian Credit Licence 241 258 | BSB 803 073