The decision to close credit cards before applying for a home loan is a nuanced one and requires careful consideration of various factors.

AMP Bank has announced an industry-first partnership with Bricklet, a shared equity home platform, to help more Australians get into the property market sooner. In partnership with AMP Bank, Bricklet’s Homeowner platform enables buyers who don’t have a large deposit, but have an appropriate income to service their loan, to purchase residential property as an owner-occupier. The home loan is provided by AMP Bank.

In up and down property market first-time home buyers are still struggling to make a start. Many people are sliding out of the property market because upfront costs are too high. The partnership between AMP Bank with a local start-up, Bricklet introduced the shared equity program.