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Lenders making it easier for first home buyers to qualify

Many lenders are now changing their policy to allow first home buyers with a good rental repayment history to use this as proof of genuine savings. You will still need to have the deposit available in a bank account but this may make it easier for some buyers struggling to pay rent as well as save up for a home deposit. This may allow you to use recently gifted cash or funds from some other source as a deposit rather than showing the usual 3 months genuine savings separately.