01 June, 2016
Home loan lender ME has today launched Life&Loan, the first real estate search tool that factors in affordability and lifestyle − such as cafes, restaurants, parks and gyms − when buying a home.
With average home prices versus average incomes increasing from three to currently seven times since the early 1980s, ME’s Life&Loan web tool aims to empower home buyers looking for affordable homes without having to forgo their preferred lifestyle.
Life&Loan flips house hunting on its head by suggesting real-time property listings based on a buyer’s borrowing power and lifestyle preferences in suburbs or areas they may not have normally considered.
ME Head of Home Loans, Patrick Nolan said ME designed the tool with first home buyers in mind, many who are anxious about sacrificing their lifestyle in order to buy a home.
“This tool helps those buyers balance their desired lifestyle and a home, but in an area they can afford,” he said.
ME research shows 77% of people are prepared to make compromises to realise their ‘dream home’.
How does it work?
Home buyers can access Life&Loan via lifeandloan.mebank.com.au on any device.
The tool works out your borrowing power after your lifestyle expenses and displays suburbs and homes to match your lifestyle and budget in a few easy steps:
Property listings are supported by Domain, average expenditure by Australian Bureau of Statistics and lifestyle filters by Google Maps, Google Places and the Government Schools Database.
Users can also share the Life&Loan via social media and book an appointment to meet a ME mobile banker.