New product aims to help clients overcome deposit hurdles and enter the property market sooner
Retail mortgage broking network Aussie has partnered with low-deposit lender OwnHome to introduce a product that allows eligible home buyers to purchase property without a deposit.
The offering, known as Aussie Boost, is intended to assist brokers in supporting clients who face challenges saving for a deposit, enabling them to access the property market more quickly.
Aussie Boost is available to owner-occupiers with loan-to-value ratios (LVR) between 81% and 100%, and to investors purchasing their first or second property with LVRs from 81% to 98%.
The product is structured to enable clients to buy without incurring lenders mortgage insurance (LMI). Interest rates for the product range from 5.28% for an 85% LVR to 6.30% for a 100% LVR.
The product is fully integrated into the Aussie Broker Platform, allowing brokers to assess eligibility, estimate potential savings, and submit applications within their existing systems.
Reducing barriers
“For many Australians, saving a 20% deposit is the single biggest barrier to buying a home,” said Travis Tyler (pictured top left), chief product officer at Lendi Group. “Aussie Boost gives customers another way forward – helping them avoid costly LMI and get into the market sooner, without compromising on affordability or peace of mind.
“For our brokers, Aussie Boost is another powerful tool to help their customers achieve their property goals. By embedding it directly into our platform, we’re helping brokers deliver more accessible pathways into home ownership – faster and with less friction.”
The launch coincides with a period of rapid growth in Australian home values, which has made it more difficult for some buyers to enter the market.
“We’re thrilled to partner with Aussie to bring this to life for brokers,” said Tim Harley (pictured top right), co-founder at OwnHome. “Aussie Boost is designed to help families who can afford the repayments but are locked out by huge deposit requirements.
“Together, OwnHome and Aussie are giving brokers the ability to say ‘yes’ to more clients and get more Australians into homes they love sooner.”
Feedback from brokers involved in the initial rollout indicates that the product has helped clients reduce upfront expenses and accelerate their home purchase timelines.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
