Redlend Weekly 02
Edition 02 - 3 August 2026
I Hope you had a great weekend.
Mine was spent with the kids basketball and all 3 games on at the same time, which adds its challenges.
My son also had his first Eucharist, with many extended family coming to celebrate.
This Week…
A little known shared equity option helping eligible Australians get back into home ownership after separation or divorce.
The hidden reason your credit card could be reducing your borrowing power.
We're looking inside a stunning family home in Cranbourne East and breaking down what it could cost to buy.
Why Cranbourne East is becoming one of Melbourne's most popular suburbs for first home buyers.
Mortgage News
A Different Path to Home Ownership After Divorce
When people think about low deposit home loan solutions, they often think of first home buyers. But there's another group that can face just as many challenges, people trying to buy again after a separation or divorce.
After a relationship breakdown, many Australians find themselves needing to re enter the property market on a single income. While they may have owned property before, they're often no longer eligible for first home buyer incentives, making it even harder to save a deposit and purchase again.
One option that may be available is through a shared equity model, eligible buyers may be able to purchase with as little as a 2.5% deposit, with no Lenders Mortgage Insurance (LMI), helping reduce one of the biggest barriers to home ownership. The property remains in the buyer's name, while the lender holds a second mortgage at 17.5% as part of the shared equity arrangement.
Every situation is different, and this type of solution won't be suitable for everyone. But it's a good reminder that there are alternatives available beyond the traditional home loan.
If you're rebuilding after separation or know someone who is, I'd be happy to chat through the options available.
Mortgage Tip
Don't Let a Credit Card Limit Cost You Thousands
Did you know that lenders assess your credit card limit, not just what you owe?
For example:
Card limit: $15,000
Current balance: $500
Most lenders still assess the repayments based on the full $15,000 limit, which can reduce your borrowing capacity by tens of thousands of dollars.
Quick Tip: If you have cards you rarely use, consider reducing the limit or closing them before applying for a home loan. It could make a bigger difference than you think.
Property Spotlight
34 Fable Way, Cranbourne East, Vic 3977
This impressive home is set on a 627m² block and offers over 30 squares of living, featuring:
4 bedrooms
2 bathrooms
Double garage
Multiple living areas, including a games room or potential home theatre
Modern kitchen with stone waterfall benchtops, walk-in pantry and large island bench
Covered alfresco area overlooking the backyard—perfect for entertaining family and friends.
With an asking price of $899,000–$985,000, this home showcases the type of larger family properties available in Cranbourne East. While it's above the suburb's median house price, buyers are getting a generous land size, multiple living zones and a home designed for growing families.
Thinking about buying in Cranbourne East? I'd be happy to help you work out what you could borrow before you start inspecting properties.
Here is what the numbers could look like…
Approximate numbers for general information only, this is not financial advice and individual circumstances will vary.
We will base this on a 80% LVR which would allow us to avoid LMI, keeping in mind we could access occupation waivers to 90% LVR for emergency services and medical professions, or accept it and pay LMI. There are no first home buyer or government concessions.
Assume a Sale @ $985,000
A Deposit @ 20% = $197,000 (@10% with LMI waivers = $98,500)
Stamp Duty & Government Fees @ $56,715
Conveyancing & Building Pest Inspection @ $3000
Funds Required $256,715
Monthly Repayments @ $4981
Based on 6.5% Interest Rate, 30 years, Principal & Interest
Suburb Spotlight
Cranbourne East
Located approximately 45km south-east of Melbourne's CBD, Cranbourne East has become one of the fastest growing suburbs in Victoria, making it an attractive option for home buyers looking for value, modern housing and family friendly amenities.
Median House Price: $801,348
Median Unit Price: $559,650
5 Year Population Growth: 52.4%
Median House Rent: Approximately $600 per week
Median Unit Rent: Approximately $530 per week
Why First Home Buyers Are Choosing Cranbourne East
Modern estates with a wide range of homes and townhouses.
Excellent local amenities including schools, childcare, Casey Fields, shopping centres and medical facilities.
A strong owner occupier presence (76%), creating a stable, community focused environment.
Significant population growth over the past five years, reflecting strong demand and ongoing investment in the area.
For buyers wanting to enter Melbourne's property market without stretching their budget into the inner suburbs, Cranbourne East continues to offer a compelling mix of affordability, lifestyle and future potential.
Request a Free Property Report
Lets Talk Property
Whether you're buying your first home, refinancing, investing or just looking for some guidance, I'm always happy to have a conversation.
No pressure. No obligation. Just honest advice to help you make informed property decisions.
If you found this newsletter helpful, I’d really appreciate you sharing it with anyone you think might find it valuable too.
Adam Blumfield (Credit Representative Number 578714) and Redlend Home Loans Pty Ltd ABN 43 697 682 616 (Credit Representative Number 578713 ) are credit representatives of Purple Circle Financial Services Pty Ltd ABN 21 611 305 170 Australian Credit Licence Number 486112.
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