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Molly Bailey and her partner Michael Radford have just bought their first home with the help of Newcastle Permanent.
Molly Bailey and her partner Michael Radford have just bought their first home with the help of Newcastle Permanent. Contributed

Gen-Y couple proves smashed avo eaters can live the dream

OWNING a home is the great Australian dream many smashed avo eaters are striking off their to-do lists as property prices and the cost of living continue to climb. But, one Gen-Y couple has proven it's not out of reach if you really want it.   

Molly Bailey and her partner Michael Radford lived in a shed-come-granny flat at Molly's parents' for 18 months as they saved for their first home.  

And while the quality family time is nothing to be sniffed at, the couple was thrilled to purchase a home of their own.    "We love it. It's a perfect first home for us," Molly said.   

"We wanted something that wasn't falling apart but not something that was completed, so this was a happy medium.   "We wanted to be able to put our own touches on the place and not spend an extra $60,000 [on the purchase] for something if we could renovate it for $10,000 or $20,000 and save a bit of money."  

Molly and Michael saved and searched for their first home for a year and a half.   

Rather than being a frustrating experience, Molly said applying for the couple's first home loan was straight forward.  

"I thought it would be daunting and scary but I didn't find the process to be like that at all," she said.  

After banking with Newcastle Permanent for a few years, Molly said she knew she wanted to secure her first home loan there.

"I didn't know much about Newcastle Permanent until a couple of years ago and then once we started banking there I thought, I want to get our home loan with this bank," Molly said.   

"Based on interest rates, products and flexibility, Newcastle Permanent was way ahead of the other banks for us."  

The couple is not alone in deciding that Newcastle Permanent is the best lender for them. Mozo's Expert's Choice Awards recently named Newcastle Permanent Home Lender of the Year for 2018.   

This year the Mozo Expert's Choice team analysed 525 home loans issued by 88 Australian lenders, including the four major banks.  

"With 525 home loans under our experts' radar this year, to be receiving the Mozo Expert's Choice Award indicates Newcastle Permanent home loans are the country's best in terms of value," Mozo Director Kirsty Lamont said.   

"Our Mozo Expert's Choice Home Loan Awards are here to help borrowers cut through slick marketing by spotlighting the lenders delivering borrowers the best value for money."  

Mozo also presented Newcastle Permanent awards for its individual products Packaged Home Loan, Split Home Loan, Fixed Home Loan, and Investor Fixed Home Loan.  

Newcastle Permanent CEO Terry Millett said the achievement was proof its home loans were the most competitive in market.  

"We can offer our customers a premium product and service experience because we're 100% customer-owned," Mr Millett said.   

"This means that we don't operate like a major bank to make profits for shareholders.  

"Instead our focus is on reinvesting back into our products to offer competitive rates for our customers and support our community."  

For information or advice on your home loan, head HERE.