Home loans for Centrelink customers

There is an article linked on this page about Home loans for Centrelink Customers. The discussion is how banks generally don’t lend to Centrelink customers, not even pension loans.  Here is a good news story about a lender in South Australia, HomeStart finance, a state government backed lender helping people on lower incomes and pensions find and repay a home loan.

The article listed in the online site The Adviser talks about how people on a pension, can be good customers and repay their loan off. At a senate inquiry, Homestart loans commented on how they had turned a profit every year of operation, even though a large number of customers were Centrelink customers.

Just look at Homestart Finance in South Australia!

According to Homestart, even though some customers refinanced, they managed to stay a few years with Homestart paying off the loan. They  built equity in their home, and. looked at other lenders to remortgage their home. This happened because they were less of a risk for the mainstream lenders such as the banks.

This helped those battlers on a pension. They built an asset, and moved on and create further wealth in their lifetime. They improved their lifestyle, and managed to put back into the community. Home loans for Centrelink cuustomers are possible, given the scenario detailed here.

How have Homestart Finance managed to get Home Loans for Centrelink customers approved?

Homestart works with various organisations  in South Australia developing areas for affordable housing. When these area are complete, Homestart then work with these organisations, to see what are the best home loan products available. The result is a sucessful partnership between Homestart, the South Australian organisation, the not for profit organisations,  South Australians and those seeking home loans for Centrelink customers.

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