Planning to purchase a property in the near future? Here’s what you can do today to optimise your chances of being approved for a home loan down the track. ✅ Do your research It’s a good idea to do some research and start thinking about what kind of home loan may suit your needs. If …
Are you planning to purchase your first home or investment property? It’s an exciting time and nothing compares to the feeling of holding the keys to your very own property in your hand. If you’re new to buying property, here’s how the home loan application process works. Understand your borrowing power When it comes to …
Stuck in an expensive home loan and feeling trapped? You’re not alone. It’s estimated about 16 per cent of households with a mortgage are in a “mortgage prison”, unable to refinance to a more competitive interest rate because they can’t meet strict serviceability rules. But there may be a way out. And we can help. What is …
If you are buying your first home, getting your head around home loan terminology can be tricky. Two acronyms you may come across are loan-to-value ratios (LVR) and debt-to-income ratios (DTI). Recently there have been important changes to DTI ratios that could affect your borrowing capacity. Here, we’ll run through what these terms mean and …
Every home loan application is unique, so the time between your first contact with your broker and approval can never be predetermined. If an application is not completed correctly, you risk delays in approval, or even being declined by potential lenders. There are, however, some things you can do to help the process move quicker. …
Interest rates are a big factor in each repayment and the total cost over the life of a loan, so staying on top of your current rate, as well as the interest trends across the market, is essential. By staying on top of interest rates, borrowers can make informed decisions about choosing a first-time home …
When taking the plunge into the world of home loans and property investment, the challenge often lies in knowing which expert to approach for help. Finance brokers and financial planners, although similar in their professional outlook, cater to different financial endeavours. Brokers that deal in home loans must be qualified and licensed loan advisers with …
Do you need a finance broker or a financial planner? Read More »
Am I financially fit to be a guarantor? The first thing you should be certain of is whether you are in a financial position to pay off the loan if the borrower finds that they can no longer do so. There can be many disruptions to an income, such as loss of employment or a …
Thinking of being a guarantor? Ask these three questions first Read More »
Knowing what a property is worth is central to avoiding paying too much for it. It’s about doing your homework, knowing what you want, knowing the market and making sensible offers. Set a benchmark Comparing nearby properties that have sold recently is the best way to assess an acceptable price for the property you are …
Offset accounts and redraw facilities work in similar ways. They both allow you to reduce the balance of your home loan, and therefore the interest charged, by applying extra money to your debt. Deciding between an offset account and a redraw facility on your home loan largely depends on how accessible you need your extra …
How redraw facilities and offset accounts can save you money Read More »
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