It’s just as hard at 70 to buy your first home in Australia

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I was facing the prospect of homelessness via the off-ramp of eviction – but I couldn’t get a loan and ended up not far from where I started

‘A broker who knew my circumstances ruefully informed me within 24 hours that I stood little chance of being offered a mortgage.’‘A broker who knew my circumstances ruefully informed me within 24 hours that I stood little chance of being offered a mortgage.’

I knew that not only were the days of “peace and enjoyment” promised in my lease gone for good but I was now on that slippery slope, the travelator of uncertainty, taking me in the direction of homelessness, perhaps via the off-ramp of eviction. Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup

If I couldn’t raise the loan within a week and a half, I saw that I’d incur a $480 debt for nothing. Having never owned a home – over the decades, the money others saved for their shot at the Australian dream had gone into slaking my thirst for travel – I waited a day or two.

 

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