How a single mum can get into the property market

  • 📰 theage
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 77%

Business News News

Business Business Latest News,Business Business Headlines

A single salary is tough but, if you are frugal, that could overcome another obstacle to approval

I am a single, self-employed mum of one. My marriage ended about 10 years ago and at that time we were a young couple with a 12-month-old, without a lot of equity in the family home. Since then, I have been saving towards a deposit but I am finding it hard to get back into the market, as I don’t qualify for the first homeowners grant or other incentives.

. If you pare back your spending in the three months before you apply for the loan, it will help as lenders are now running a fine-toothed comb over incomings and outgoings over that period. To see your possible loan options, visit some of the many mortgage comparison websites, such as canstar.com.au, mozo.com.au and finder.com.au.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

The median income for single parent households is $974 per week and Around one third of them live in poverty. Single parent families struggle to own their own home because of speculative investing in the housing market, not poor financial management on behalf of single parents.

There's more to life. This country's media is OBSESSED with property.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Renting or buying? The tough question in today's property marketFor years the conventional wisdom in real estate has been that buying is always better than renting - but that may not be the case anymore. 9News
Source: 9NewsAUS - 🏆 10. / 72 Read more »