ME Bank Life&Loan tool helps millennials buy property and eat avo

Home loan lender, ME Bank, has launched a property tool to help first home buyers get on the ladder, without sacrificing their lifestyle or smashed avocado breakfasts.

This comes as a journalist from The Australian recently accused young people of frittering their money on hipster cafes instead of saving for a house deposit.

Head of Home Loans at ME, Patrick Nolan, said Aussies “anxious about sacrificing their lifestyle” for a first home can do both thanks to the new tool, dubbed “Life&Loan”.

“ME research shows 77% of people are prepared to make compromises to realise their ‘dream home’,” he added.

Life&Loan is a tool designed to show users properties they may not have considered, based on factors like their borrowing power and lifestyle.

ME pooled together Domain property listings, ABS statistics, lifestyle filters at Google Maps, Google Places, and the Government Schools Database to fuel the online home buying engine.

How to use ME’s Life&Loan:

  • Type in key personal details including your net household income, favourite suburb, and top lifestyle interests.
  • Fine tune the budget calculation ME gives to you, so it reflects your financial situation.
  • Compare your options based on results the tool finds for you.

Other ways to break into the market:

  • Get a feel for the home loan market at our dedicated hub.
  • Give our in-house home loan negotiator, Steve Jovcevski a call to discuss your lending options (obligation free).
  • Set a realistic savings plan in place, and stick to it. Don’t know where to start? Use this budget calculator to get a complete picture of your finances and where you can cut costs.