The shortest answer to the question “Who could be a Connective Skip customer?” is: clients whose borrowing capacity is stronger than the deposit they currently have available.
You can generally group these clients into four types:
First home buyers who fall outside the Government Scheme
Many first home buyers may have the income to service a loan, but still fall outside Government Scheme criteria. You may be working with clients who are purchasing above the property price caps, buying with a visa-holder partner, or wanting to keep more cash aside after settlement.
Upgraders, rebuilders and other non-first home buyers
For upgraders, available equity can be the difference between settling for the next property and making the move they actually want. Connective Skip may help you stretch their equity further, so they can move sooner rather than waiting to build a larger deposit.
Divorcees and rebuilders may also be a strong fit. You may have clients with good incomes and strong servicing, but a reduced asset base—and they may not want to wait years to rebuild a traditional deposit before getting back into the market.
Family-supported buyers who want to avoid a guarantee
Connective Skip can help you support family-assisted purchases with less cash upfront, while avoiding the complexity and financial pressure of a family guarantee. Parents may contribute less, your clients may still secure the property, and the family can keep the lending structure simpler.
Clients already in your back book
Your existing client base can also be a strong place to look. Start with stalled pre-approvals: if your client can service the loan but cannot reach their ideal property with the deposit they have, Connective Skip may help you progress the deal. Our modelling shows up to 30% more purchasing power than a 95% LVR loan with LMI, based on the same funds to complete and monthly repayments.
You can also look for clients who want to remove a family guarantee. A cashless refinance may help release the parents’ property while moving your clients onto a loan they can afford.
Connective Skip lends up to 98% LVR, with rates from 6.39%, low fees and no LMI. If one of these client types comes to mind, speak with your Connective Skip BDM to discuss whether it may be suitable.
If one of these client types comes to mind, contact your Connective Lending Manager to discuss the scenario and whether Connective Skip may be suitable.
