How this first home buyer saw an opportunity to enter the market

As a first home buyer Juan was unsure of the process however BankVic were able to help him navigate the home lending process and first home purchase. 

Like many Victorians, Juan Hompart dreamt of owning his own home and based on his experience in the health sector, decided to contact BankVic.

Magnus became Juan’s lending consultant at BankVic. “The best thing was that I always had Magnus assisting me, instead of dealing with different people,” says Juan.

“It was always that one person managing the whole process from the start, so if there were any issues I went straight to him,” he says. “Even if it was something like organising my bank accounts, he was also there to help me out and to put me in touch with the people I needed to speak to which was really helpful.”

As a first home buyer Juan was unsure about the process of entering the property market and so having BankVic there to explain the next steps was helpful and reassuring. “BankVic were really responsive and got back to me within a day of me contacting them, which I really appreciated,” he says. “It was really good having that reassurance and communication as it alleviated a lot of stress when buying my first house.”

Once his loan was approved Juan spent the next few months searching for his home. House hunting in 2020 has been very different with in-person auctions and inspections banned due to Melbourne’s stage 3 and stage 4 restrictions. Eventually though, Juan found the property he was looking for.

“It didn't feel like I was too affected [by the restrictions] – if anything I would say it was probably better in a sense, because when I went to inspections it was just me,” says Juan. “It wasn’t like when agents do a Saturday open inspection and you get a house full of people, which feels quite intimidating.”

Juan bought a three-bedroom unit, one of two on a block with a front and back yard, in the outer eastern suburbs in Melbourne. He’s now moved in and is enjoying the freedom that comes with owning his own home.

“It worked out really well for me,” he says,

“I was going into it very blind – even though I'm an accountant, there was a lot of stuff I didn't understand. I was able to break it down with Magnus and he took the time to explain everything so it was a lot clearer.”

 “I can't speak more highly of BankVic,” he says, “They were really open and responsive in terms of communication which made my life a lot easier. Being my first home purchase, it was quite nerve-racking, buy they made the process a lot easier.”

If you’re thinking of buying your first home this year, get in touch with our lending team on 13 63 73 to find out how we can help you work towards securing your first property. Our lending consultants can help you every step of the way and are available to talk to you over the phone or via video conference.

This article was published on 12 October 2020 and the information was current at that time. Normal lending criteria applies to all loan applications. The information in this article is general in nature and does not take into account your personal situation or needs. Please consider whether it is appropriate for you before acting on this information. Police Financial Services Limited ABN 33 087 651 661 – trading as BankVic AFSL 240293 Australian Credit Licence 240293