New tool helps buyers have a home but keep the lifestyle, with a side of smashed avocado.
Home loan lender ME has launched a new property search tool that includes lifestyle and affordability search criteria.
The online Life&Loan tool flips house hunting on its head by suggesting real-time property listings based on the lifestyle buyers like to live, followed by borrowing power, in areas they may not have initially considered.
“The Bank designed the tool with first home buyers in mind, many of whom are anxious about sacrificing their lifestyle in order to be able to afford a home,” ME Head of Home Loans, Patrick Nolan, said.
Anxiety was heightened a few weeks ago when social commentator Bernard Salt admonished millennials in his The Weekend Australian Magazine column for indulging in $22 serves of smashed avocado instead of saving for a home.
“ME thinks you can do both and this tool helps you,” Nolan said.
Life&Loan complements ME’s latest smashed avocado home loan campaign.
How Life&Loan works
Home buyers can access Life&Loan on any device and do the following:
- Enter details such as net household income, favourite suburb, dwelling type and top lifestyle interests such as cafes, restaurants, parks and gyms.
Review budget with an in-built calculator that makes assumptions about your budget, which can be fine-tuned in an interactive pie chart, if required.
- Consider options by comparing your favourite suburb with others that are similar but better suited to your budget. Recommendations include real-time property listings and lifestyle preferences.
Property listings are supported by Domain, average expenditure by the Australian Bureau of Statistics and lifestyle filters by Google Maps, Google Places and the Government Schools Database.
Members Equity Bank Limited ABN 56 070 887 679 Australian Credit Licence 229500.