Do you need a finance broker or a financial planner?
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 […]
Thinking of being a guarantor? Ask these three questions first
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 […]
How to avoid paying too much for a home
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 […]
How redraw facilities and offset accounts can save you money
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 […]
Fixed rate versus variable loans
Fixed rate loans A fixed rate loan is one that maintain the same interest rate over a set period of time regardless of market fluctuations in interest rates. A fixed rate home loan can offer stability for those conscious of a budget and who want to take a medium-to-long term position on a fixed rate. […]
How do lenders assess applications?
While loan officers work solely for a lending institution and can only offer that institution’s products, brokers can help connect you to the lender best fit to serve your mortgage needs by shopping around on your behalf. Finance brokers on the other hand are paid commissions by lenders to match borrowers to the right products […]
When was your last home loan health check?
Circumstances can change, leaving your home loan less suitable than it was originally. A home loan health check can reveal if you’re paying too much. What’s involved? Your finance broker can do a full home loan health check for you either in person or over the phone. They will check if your loan is still […]
What is the best time of year to buy a house?
While spring is renowned as the time that sellers dust off their properties and place them on the market, this doesn’t mean it is necessarily the best time for buyers to go shopping. One of the biggest issues with shopping in spring is the flood of other buyers looking to snag their dream homes, which […]
Fixed Rate Home Loans
With interest rates at an all-time low, and many lender’s fixed rates lower than their variable options, locking in an interest rate on your home loan to guard against possible future fluctuation may be attractive. However, it pays to know the ins and outs of fixed-rate loans before committing to one.
Five ways to fund a renovation
Considering transforming your home from ‘banal’ to ‘brilliant’, but lack the funds to support your makeover? Never fear, we’ve rounded up five home renovation finance options that could help turn your dream into reality. 1 Equity Release / Top Up Home Loan This is probably the most common way people borrow money when they want […]