The Australian Finance Group (AFG) Gala Awards Event was held this month. Capita was made the Top 15 Broker Groups in WA, and 2 of our brokers were named in the Top 20 Broker list.

We are proud of this achievement, as we feel it reflects the hard work, dedication and innovation of our entire team.

If you’re in the market for a property, you need to know how much to save for a deposit. Today, we’re delving into what you need to know, so you can budget and prepare yourself to achieve your property goals.

How much do I need for a deposit? According to finder.com.au a home loan deposit is typically 20% of the agreed sale price. As an investor, you generally have to pay more, so be prepared to pay as much as 30% of the property price. The percentages listed above are minimum deposit amounts. If a 20% deposit cannot be made, 10% or more is the recommended minimum. The higher the deposit amount, the less you will pay over the life of your home loan. (So ideally, a higher deposit is better.) The minimum deposit amount between lenders will vary, so check with your mortgage broker if you’re unsure.  What if my deposit is less than 20%? Most lenders require borrowers to take out Lenders Mortgage Insurance if their deposit is under 20% of the agreed sale amount.

SME’s are one of the sectors hit hardest by poor cash flow, especially in Australia. This is one reason why aggregator AFG has chosen to partner with Prospa, a small business lender that also happens to be web-based.

AFG is a leading Australian aggregator, which has around 2,300 mortgage brokers on its books. Their role is to connect brokers with reputable lenders, who can offer businesses and individuals competitive loans.