Member Story: MOVE helps first home buyers get their happy ending!

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Buying your first home should be one of the most exciting times of your life.

But for many first home buyers, trying to get their head around all the information they need to make such an important financial decision can mean that it’s actually one of the most stressful.

For Kaushi and Katy, winners of our recent One Percent Home Loan Competition, having the right lender to guide them through the purchase of their first home was crucial – especially when they hit a few bumps in the road…

Kaushi & Katy’s Story

Like most first home buyers, Kaushi and Katy had been researching their finance options to try and work out which home loan would be best for them. The problem was they weren’t finding any answers.

“We’d call and speak to someone about a loan, and then we’d call again and get someone else on the line who would give us completely different information”, said Kaushi.

“We just wanted to make sure we understood everything about the loan upfront, but it was so hard to get a straight answer”

Frustrated by their lack of progress, the couple were at a loss to know how to proceed. Little did they know help was literally just around the corner…


Here’s how we helped Kaushi and Katy buy their first home… 

Finding the right loan

After weeks of walking past the MOVE branch at Central Station on her way to work, Katy decided to drop in to check out our range of home loans.

The couple then met with MOVE Mobile Banker, Wayne Hancock.

“Wayne took the time to explain all our options and spelled everything out in detail.  By the end of the conversation, we felt confident we knew exactly what we were getting with our loan”.

Once they’d decided on the loan, Wayne was able to get their finance pre-approved so they could get serious about finding their new home. Having their finance pre-approved meant the couple had a good idea of their price range, and before long they’d fallen in love with a property and were ready to buy.

By rights, this should be the end of the story. But it turned out Kaushi and Katy had a few more bumps along the road to owning their first home.

Navigating issues

Kaushi’s parents had kindly offered to be guarantors on the couple’s loan, which meant they were able to borrow less than 80% of the property’s value and avoid lenders mortgage insurance.

This meant the security from Kaushi’s parents’ property had to be transferred from their current financial institution to MOVE.

Unfortunately, the other bank proved to be very difficult to deal with, delaying the transfer to the point where the couple were in danger of the sale falling through altogether

“It was so frustrating,” said Wayne

“I’d call to see if the transfer had been made and I’d be put through to someone who had no idea what I was calling about. I never spoke to the same person twice”.

A happy ending and a win!

Wayne kept pushing for the transfer to be made but it wasn’t until the morning of settlement that they finally got word that the security had been transferred.

“It was such a relief,” said Kaushi.

“We wouldn’t have gotten through this without Wayne. He was with us every step of the way and he really went above and beyond our expectations.”

“Having that one person we could rely on all the way through the whole process made such difference”

One of the things Kaushi and Katy really appreciated was Wayne’s flexibility and willingness to go the extra mile.

“We both work so it’s difficult for us to do this kind of thing during business hours. Wayne was happy to do things like drive out to our house at 9.00pm in the evening to go through some documents with us, and once we even spoke to him at 2.00am in the morning!”

The icing on the cake came two days after settlement when they found out they’d won a 1% interest rate on their home loan for the first six months!



 Wayne’s tips for First Home Buyers

1. Choose a financial institution that provides you with your own lending specialist

That way you’ll have someone you can rely on to guide you through the process from start to finish

2. Make sure you understand EVERYTHING about your loan

Get all the details about any fees, charges or special conditions relating to your loan upfront. And ask as many questions as you need to – a good lender will take the time to make sure you know exactly what you’re getting.

3. Get your finance pre-approved

Pre-approved finance means you know how much you can borrow and what your price range is. That way when you find the home you want you can make an offer with confidence.

4. Talk to your parents about being guarantors

If you think your parents might be willing to act as a guarantor for your loan, have the conversation with them about this early on in the process. As we saw from Kaushi and Katy’s story this can take longer than you expect!


Resources for First Home Buyer 


MOVE First Home Saver Account – 2.40% p.a.1

MOVE’s award-winning savings account gives you high interest with no strings attached! You’ll earn a whopping 2.4% interest and have access to your funds whenever you like via internet banking.

And the best part? You can open a First Home Saver Account online in just minutes!





MOVE First Home Loan – 3.99% p.a. (Comparison rate 4.02% p.a.)2

Get a home loan that’s packed with features like offset account and free redraws, at a fantastic low rate! Only 5% deposit required and there are options for your parents to go guarantor.


Talk to MOVE  today to see how we can help you get a happy ending when you buy your first home!

Get in touch with a MOVE lending specialist here or call us on 1300 362 216.


This blog post is for general information purposes only and is not intended as financial or professional advice. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product or other professional advice. You should seek your own independent financial, legal and taxation advice before making any decision about any action in relation to the material in this article.

1 Interest rates subject to change. All rates quoted are per annum (p.a.).

2 Fees and charges apply.

 The comparison rate is based on a secured loan of $150,000 for a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

 Railways Credit Union Ltd. trading as MOVE  ABN 91 087 651 090. AFSL/Australian Credit License 234 536


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