Skip the Wait, Josie & Shaun Built Equity Sooner with Ubank’s Lower Deposit

 

Earlier this year, young Brisbane couple Shaun and Josie didn’t just buy a house—they accelerated their future by purchasing a new family home with Ubank’s lower deposit home loan and no LMI costs.

“We’d been watching the market for 18 months and knew it was time to jump in before we got priced out,” says Shaun.

Shaun (32), an engineer, and Josie (30), a policy advisor for the Queensland Government, had been saving individually for years. Once they moved in together, their motivation soared. They tracked expenses, reviewed budgets monthly, and pinned real estate brochures to the fridge for inspiration.

Budgeting and savings toward homeownership goals

Budgeting became a team effort for Shaun and Josie, grounded in mindful choices and smart habits. As self-proclaimed foodies, they embraced cooking at home to keep dining out as an occasional indulgence rather than a routine expense. They regularly reviewed costs like streaming subscriptions and utility plans and trimmed where they could.

Ubank let us flex our savings

Motivated and optimistic, Shaun and Josie wanted a family home and the financial security that comes with owning property. To get closer to their dream, they chose Ubank’s 15% deposit no LMI home loan for its innovative product features, competitive rates, and offset accounts that helped them save on interest.

“In a rising market where every cent counts, Ubank’s low deposit, no LMI home loan let us flex our savings and buy sooner, without waiting years to reach a 20% deposit,” says Shaun. “Plus, paying for LMI would’ve felt like throwing money away — money we could put straight into the house.”

Fast-track to our dream home

As well as bricks and mortar, Shaun and Josie dreamed of starting a family in their new home. With a baby on the way, Ubank’s low deposit, no LMI home loan gave them the freedom to buy sooner, build equity faster, and settle into a space they could truly call their own.

With Ubank behind them, the couple purchased a double storey, four-bedroom, two-bathroom home on a 620 square meter block, in a leafy street in The Gap.

“Using a lower deposit to purchase fast-tracked our home buying process – it was like stepping into a time machine. Suddenly, we’d purchased, moved in and began renovating, building equity, and starting a family – it truly is a dream come true,” Shaun said.

Within six months of purchase, Shaun and Josie had built enough equity to reprice their loan at 80% LVR and secure a better interest rate on their home loan.

“Fortunately, we’ve benefitted from recent interest rate cuts and due to this we’ve seen several reductions through Ubank. Less than a year after securing our property, we were able to refinance against capital gains and bring our loan below 80% LVR, unlocking an even better rate. Ubank made the process easy and efficient, and we were thrilled with the outcome,” Shaun said.

Now, with their baby girl, Shaun and Josie are enjoying the warmth and security of their new home with the peace of mind they’re well established on the property ladder – and living the Great Australian Dream!