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Are you facing barriers to home ownership? Take a moment to read about Phil’s success; a compelling story about overcoming the hurdles, and making home ownership possible.

When Phil’s landlord got in contact and asked if he wanted to renew his rental agreement, he decided it was the right time to buy. The family had been renting for 10 years and saving for a house for a good long while. They’d done their best to build up a deposit and they knew that the increase in rent that the landlord had planned would be too much for their budget to bear.

So Phil and his family began the process of looking for finance.

"We were not confident; we knew our situation. The banks rejected us once they found that our credit rating was not good. I would try to explain – that was just our history. I tried to explain…but once your credit rating is bad, they will not trust you."

If Phil sounds like he was getting anxious, it’s because he was. His family knew that they either bought their own home or faced an increase in rent. When thinking about that rent increase Phil says, "We would not have coped."

Looking back on it now, Phil says that he felt that he and his family had come to the end of their search. But he wasn’t ready to give up just yet.

"I contacted RESIMAC and was just so happy that someone listened to me. I don’t think some other companies are willing to listen right away, because they are just following their rules and their criteria."

Because RESIMAC listened, they were able to understand that Phil’s credit history didn’t represent his present attitude to money. By working together, RESIMAC helped Phil to understand how he could get a home loan and look after his credit rating at the same time.

"I don’t want to go back to where we were: sometimes one-day, sometimes one-week late with the credit card bill. We didn’t realise that it would affect our credit rating and home loan chances. We are trying to do our best now and within two years will have a credit rating that even the banks will like."

Phil got his home, and his family loves it. He signed up for a home loan with RESIMAC, where he put down a 10% deposit and RESIMAC lent him 90% of the value of his house. By accepting Phil’s credit history and helping him to get his finances to stack up, RESIMAC made it possible for Phil and his family to become homeowners.

We’ve been here almost six months and it’s a lovely place. And every time I am here, in my home, I can’t forget RESIMAC.

I want to thank everyone at RESIMAC for getting our application through. I would like to thank everyone for their part. I know you are doing this not just for me but for other people too. People are starting to know RESIMAC and you are helping a lot of families to get their own house, to have a better future.

Phil, RESIMAC Direct Client

Losing hope that you could own your own home? Phil says don’t. Try calling RESIMAC instead and telling them about your situation. Because they actually listen to you, you could find home ownership is within your reach after all.

Phil’s name has been changed for privacy reasons.

  • Use a calculator to get an estimate of how much you can borrow.
    Try one here

  • See if you qualify. To get a more accurate idea of how much you can borrow with RESIMAC Direct,
    click here

  • Call our Lending Specialists and they can do the calculation for you over the phone plus answer any questions you have at the time. Talk to us on 0800 466 656