For first time home buyers, you will need to show the banks or lenders your account savings. You must have at least a 5% genuine savings or an increasing savings over a 3-month period. This will give you a maximum borrowing of 95%. However, you must make sure the account savings is in your own name.

Then, find an expert. Buying a home can be stressful and time consuming if you don’t have the expertise. An expert mortgage broker will also walk you through the loan application and paperwork, which includes:

  • Evidence of your income – recent bank statements, payslip, and spending and saving history
  • Your current assets and liabilities–details of your personal and car loans, investments, credit card debts, etc.
  • Your household and living expenses–summary of your daily budget
  • Personal IDs–birth certificate, driver’s license, passport or citizenship certificate