HOME DEPOSIT SERVICE: Helping you save for your new home
Updated: Aug 26, 2021
At Hub, we’re here to help you make confident and informed financial decisions, including when purchasing a property. That's why we have created our Home Deposit Service and it's all about giving you confidence, providing certainty, and putting your best foot forward.
The Home Deposit Service helps with the challenges associated with buying a home, including getting your deposit together but also areas such as:
- Saving through a bank account vs investing
- Using your superannuation to buy a home
- Getting a clear idea of how long it will take
- Balancing lifestyle and savings
- Determining the impact a mortgage will have on cash flow
- Understanding how the buying process works
- Standing out against other buyers in a competitive market
- Staying motivated and resisting spending your savings
A Home Deposit Plan tailored for you
We’ll take the following steps to develop a holistic Home Deposit Plan tailored specifically for you:
1. Collect all data needed, including draft budget
2. Discuss your budget and how it fits with your lifestyle and savings targets
3. Determine the optimum savings plan which could include investments or superannuation
4. Run projections to get a clear understanding of the outcomes and tweaking the optimum plan to suit your needs
5. Look at banking structures and cash flow management to give you the best chance at success
6. Issuing a complete Home Deposit Plan and Statement of Advice summarising all the details
Included in the Home Deposit Service is also a host of tools and educational resources which help you to track your progress, consult with other professionals and understand the entire purchase and settlement process.
Our Home Deposit Service costs $580.
There is an additional $100 fee where an investment account is implemented and you would like our assistance in setting up the account. And there are no ongoing fees, unless you request an Ongoing Service Agreement be set up.
If you’d like to take the next steps towards purchasing your home, give us a call on 02 4926 8000 and we can run through your specific situation.