When a Decent Deposit Just Isn’t Enough: How Strategy Made All the Difference

About six months ago, I had a chat with a lovely couple—absolute legends—who were trying to crack into the property market. They’d done the right thing: saved a solid deposit, got their paperwork in order, and were ready to roll.

But there was one catch…Their budget just didn’t stretch far enough to get them into the areas they really wanted to live in. They weren’t looking for a mansion or beachfront palace—just something livable, in a suburb that worked for their lifestyle.

Sound familiar?

It’s a common story. You’ve done the hard work saving, but rising prices and borrowing limits can make it feel like you’re locked out of the market, even when you’re financially responsible.

So we stepped back and reworked the strategy.

As a Northern Beaches mortgage broker, I see this all the time. The trick isn’t always to save more—it’s about working smarter with what you’ve got. That’s when the idea of a parental guarantee came into play.

By leveraging their parents' equity, we were able to:

• Boost their borrowing power

• Avoid lenders mortgage insurance (LMI)

• Keep their deposit untouched

Fast-forward to today, they’re fully approved for the entire purchase price plus costs like stamp duty and conveyancing. And since they didn’t need to dip into their savings, they’ve got a healthy buffer left to furnish their new home and even do a few small renovations.

Moral of the story?

Sometimes the winning move isn’t your first plan—it’s the right plan.

Looking for a Northern Beaches mortgage broker who can help you think outside the box?

Let’s chat strategy—book a time with Mortgage Hub here and we’ll help you find your own path to home ownership.