How UNO helped a first home buyer find the ideal loan

UNO Home Loans can help any first home buyer, such as 34-year-old David from NSW, get a loan that suits individual needs. See our mortgage calculator.

Suddenly, the clock was ticking for David*. The 34-year-old IT worker had been living with his parents on the NSW Central Coast to save money for a home deposit. He had just discovered his contract job in Sydney had turned into a permanent role, which finally gave him some financial certainty, when his parents told him their news.

“They said they were moving interstate for five years due to work and I basically had to move out,” David says. “This meant I needed to have bought and settled something before they left, so I was under some time pressure to find something.”

Having decided to buy a unit on the lower Central Coast, near Gosford, David stepped up his property hunt. He had put himself in a reasonably strong financial position, have saved $70,000 for a deposit on a two-bedroom property in the $350,000 to $400,000 range, but he knew this was necessary because of his circumstances.

“I was on six months’ probation in my new job so I would have to go in with 20 per cent deposit on anything, as well as having to pay stamp duty and other fees,” he says.

This meant David needed to borrow about $300,000. After talking to friends and family about his options, he did some online research and came across UNO.

“Working in the technology field myself, I found it interesting,” he says. “Especially after looking at a number of bank and broker websites, I found the UNO website to be a much better and user-friendly experience with a lot of options to tailor what I wanted.”

Getting a loan in train

As David commutes by train for 90 minutes each way on work days, one UNO feature really stood out – he could reach a mortgage adviser outside working hours via message and online chat, even on weekends.

“I leave soon after 7am and don’t get home until after 7pm most days,” he says. “I’m also usually in a quiet carriage on the train, which has patchy mobile service for part of the trip, so I can’t even have a reliable phone call. Also, like most people these days, I work in an open-plan office where everyone can hear your phone calls.

Online chat and email meant that I could make that time on the train much more productive by organising most of this mortgage stuff, and I didn’t need to worry about trying to squeeze some time for a formal meeting into my schedule. Neither did I need to worry about other people listening into phone calls that I preferred to be private, whether on the train or in the office.” David also liked UNO’s website interface and usability. “It was generally well thought out, a fairly contemporary design, easy to use and seemed targeted more towards actual customers,” David says. “Bank websites are obviously only interested in selling their own products and other mortgage broker websites seem more like an afterthought of the business. They seem intent on harvesting your contact details.”

Soon, UNO helped David come up with a loan that best suited his needs. He wanted a full offset account and redraw facility because he knew his mortgage repayments would be relatively small compared with the income from his new permanent job. This meant he could put extra funds in the offset account and pay off his loan faster. The redraw facility would allow him to pull out these funds for other purposes, if required.

“Some of the loans I had shortlisted had some catches such as only having a partial offset instead of full offset, which I only found out after discussing with my mortgage coach,” David says.

Expecting interest rates to remain low for some time, David was also keen for a variable-rate loan. Even when rates did eventually rise, he was confident having funds in the offset account would negate some of the impact.

After initially settling on a variable-rate ING loan, David successfully made an offer on a two-bedroom unit, just 15 minutes from a railway station. One of the sale conditions, however, was a fast settlement period. As the approval time for the ING loan was going to be too long, UNO’s mortgage coach helped find a similar loan from Macquarie that met his requirements along with faster approval.

“It was a new offering since I first looked,” David says. “I think I was one of the first people to use that loan and the first via UNO. I have no complaints about it so far.”

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* Not his real name.

This information in this article is general only and does not take into account your individual circumstances. It should not be relied upon to make any financial decisions. UNO can’t make a recommendation until we complete an assessment of your requirements and objectives and your financial position. Interest rates, and other product information included in this article, are subject to change at any time at the complete discretion of each lender.



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What our customers are saying

Sam Rezai
October 2, 2024
I have gone through 6 different mortgage brokers prior to meeting Andrew Wyers. He is the most patient mortgage broker I’ve encountered and also the most knowledgable about the bank’s lending process and products available. It took me 1 year to find a house I was happy with and Andrew was always there to assist with any issues or questions I had; he always return my phone call, even on the weekends or when his away on holidays. The loan process was smooth and I had no complications. The process with Andrew was again nice and easy, he took the time to find and put together the right package that was suited to my situation. I have recommended Andrew to my family & friends and everyone have been grateful and completely satisfied with his service.
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S Wilko
September 23, 2024
I had not dealt with Scott or UNO before finding them on the internet. Even as an Australian citizen living and working overseas, I knew obtaining a loan would be difficult. However, Scott went above and beyond what I expected from a mortgage broker. I genuinely don’t think you could find another company that works as hard as they did to get my home loan approved. I cannot recommend them highly enough. Everyone I dealt with at UNO were extremely professional and helpful. If you are looking for a broker, you would be mad not to give them a go. Thanks to Scott Wilkinson, Dalby Bajwa, Jena Lasquite and Andrew Pacini. Shaun.
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Shan Liao
September 3, 2024
I had an outstanding experience with Tian Liu. He was incredibly professional and attentive, going above and beyond to meet my needs. His expertise and dedication made the entire process smooth and stress-free. Tian's deep knowledge of the market and commitment to finding the best solutions for his clients truly sets him apart. He was always available to answer my questions and provided invaluable guidance throughout. I highly recommend Tian Liu to anyone in need of a reliable and skilled broker!"
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Nathanael Chin
September 3, 2024
Tian Liu provided exceptional service throughout the entire process. His professionalism and keen attention to detail were evident from the start. Tian consistently kept us informed and offered insightful advice that made us feel confident in our decisions. He truly cares about his clients and works tirelessly to ensure the best possible outcome. We couldn't be happier with his assistance and highly recommend Tian to anyone looking for a trustworthy and knowledgeable broker.
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Patrick Winters
August 14, 2024
For the past three years, it has been an absolute pleasure to work with Mike Parsons. He has consistently helped us navigate commercial property loans with skill and efficiency. Mike’s timely and professional responses to our inquiries have been invaluable. We have built a strong, reliable relationship with him and eagerly anticipate continuing our collaboration in the future. We highly recommend his services.
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Lee Robibaro
August 6, 2024
I am so thankful and grateful to have Scott Wilkinson as my broker. He not only looked after me every step from start to finish he gave me confidence and I was able to trust him and his expertise. My children and I are now happy in our new home and very appreciative of Scott's help. I will definitely be only having Scott as my broker from here onward as there is no mucking around and straightforward answers. Thanks again
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Steve Mav
August 6, 2024
Scott and the whole team at uno have been amazing. Super responsive and helped us achieve a result that we couldn’t have possibly achieved on our own.
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Thien Pham
August 5, 2024
Scott, Dalby and Jena were awesome to work with for my recent Home Loan, they are responsive and knowledgeable - which helped ensure a smooth purchase from pre-approvals to settlement. This is the second property I've purchased with UNO as my mortgage broker and would definitely recommend their services. Thanks again to the UNO Team for the awesome support.
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Scott Hutchinson
August 5, 2024
I am writing this summary in support of recommending Mike Parsons as a Mortgage Broker. At the time of writing this, I have known Mike for 4 years and he has executed 4 mortgages deals for me (including 2 refinances) over that time. Mike has provided me incredible service as a mortgage broker as follows : - Works painstakingly on getting the scenarios together to provide you options that optimize your position. - Works inordinate hours on the detail necessary to support the scenarios. - Mike keeps you updated on the status and progress of the applications and also helps you work through answering questions and any complexities that may arise. -In my cases, given the complexities and timings of my situations , these application processes would take many weeks to finalize . Mike never gave anything other than utter commitment and focus to getting the job done. Mike acts as a true business partner throughout this whole broker /mortgage journey. I simply would only go to Mike for any future dealings on getting a loan from a bank (and as will my kids in the future !) . There is no way a bank (I have seen anyway) would provide this kind of time nor service to a customer. You can rest assured that once Mike has done the deal, you have ended up with the most optimized position taking into account all the variables/scenarios in play. Scott Hutchinson
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Jason Seam
August 5, 2024
I've worked with Scott Wilkinson for my last 2 properties and he's been excellent. He sourced multiple options and didn't push a specific bank, tailoring his recommendations to me based on my requirements. I was specifically requesting a "medico loan" and Scott could navigate that extra requirement with expertise. When I was initially working with Scott, I was also trialling 2 other brokers and neither of those 2 had the same breadth of lenders, or could provide the same deals. I've referred multiple buyers to Scott and his team; one of them said to me after working with him, "how'd you find this guy, he's so good compared to all the other broker's I've worked with!" I'm going into my next purchase with Scott as my broker partner again. I recommend him to everyone
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Tina Anderson
July 29, 2024
My experience with Mortgage Broker - Scott Wilkinson, and his team - exceeded my expectations! I couldn’t be happier after settlement - in this current financial climate. He listened to what my requirements were in a loan and then devised a suitable plan for me moving forward. Which was something I didn’t think was possible to achieve. I strongly believe that Scott’s qualifications and previous experience in the Finance Sector - sets him apart from other Mortgage Brokers as he has more insight into the industry and the needs of the customer. Scott was professional, provided solid options, was timely with communication and gave great advice. I will definitely be using Scott’s services in the future and I highly recommend him to anyone as a Mortgage Broker.
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Marlon Baena
July 22, 2024
Karis dedication to assisting with our home loan, even while I was on holidays, truly exemplifies a commitment to excellent service. It's the small things that often make a big difference, and it seems Karis attention to detail and clear communication were key to our smooth home purchase. I highly recommend using UNO and Karis for your home loan needs.
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