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Mortgage Tips

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What you can borrow or what you should borrow?

Posted on 9 August, 2017 at 2:25

The amount you can borrow and the amount you should borrow are sometimes two very different things. Before you apply for a home loan, it makes sense to realistically assess your financial situation. Here’s how to do it.


Understand your borrowing capacity


Generally speaking, your borrowing capacity – what you can borrow – depends on a number of factors, including:


• your income

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Why you need to know your interest rate

Posted on 9 August, 2017 at 2:05

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 loan or getting a better rate by refinancing.


Interest rate percentages are based on a number of factors: the Reserve Bank, the cost of money on overseas m...

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How much can you afford to borrow with your first home loan?

Posted on 9 August, 2017 at 1:50

Understanding how much borrowing capacity you have when buying your first home is an essential step for all newcomers to home ownership.


The question of “How much can I borrow?” rears its ugly head for all new home buyers. As daunting as it can be, understanding your borrowing power is important – and essential – for those ready to get their foot in the door with their first home purchase.


Owning property in Australia is a dream fo...

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How redraw works and why it's a handy loan feature

Posted on 9 August, 2017 at 1:25

It’s one of the less glamorous home loan features, but the redraw facility deserves a second look. Here’s why:


The redraw facility explained


A redraw facility lets you make additional repayments to reduce your variable rate home loan balance and save on interest. If you pay more than your minimum scheduled repayments, then you’ll have money available to redraw from your home loan.


The redraw facility is a common...

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Finding a home loan when you're self-employed

Posted on 28 June, 2017 at 23:50

There are many perks to working for yourself, but when it comes to applying for a home loan, it seems being your own boss sends up a red flag to banks and other lenders. Why? A salaried employee has a regular, steady income and is less likely to experience the cash flow volatility of a small business owner, contractor, entrepreneur, tradesperson or freelancer.


Yet by being proactive and accessing specialist advice, self-employed applicants can also enjoy a successful and ha...

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Your property inspection checklist

Posted on 28 June, 2017 at 21:00

When you’re house hunting, it’s easy to get distracted by aesthetics. This checklist will help you focus on what’s really important at a property inspection.


Is it right for you?

Is a spare bedroom, second bathroom or ensuite a must? Will everyone be safe or comfortable climbing stairs? Does your dog need space to roam? Be realistic about the features you can’t live without.


Floor plan and room sizes

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More than meets the eye: white-label loans are more than a good price

Posted on 28 June, 2017 at 20:55

For those unfamiliar, a white-label loan is essentially a home-branded loan. Just like your favourite home-branded products you see in supermarket aisles there is more than meets the eye – the white-label loan is more than its competitive price tag. White-label products are high quality and are developed by leading lenders – they are just packaged differently and therefore available at a sharper rate.


White-label loans are exclusively available through mortgage ...

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Understanding which home loan features are right for you

Posted on 28 June, 2017 at 20:55

Loans are by no means ‘one size fits all.’ Different loan types suit different age groups, different living situations and even different attitudes to money.


A common trap some home-owners fall into is to consider a mortgage ‘set and forget’. You did your research, shopped around, found the right option and now you’re reluctant to revisit the process – even if your personal circumstances have dramatically changed.


Befor...

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Selling your home? Here are the first steps to take

Posted on 10 April, 2017 at 3:05

There is more to selling your home than putting up a ‘For Sale’ sign on your front lawn. Here are the first things you should check off your list to help you get the largest return from your investment and to ensure the process runs as smoothly as possible.

Choose a quality agent


Asking family and friends who have purchased or sold a property about their experience is a great way to ensure the agent you’ve enlisted will provide quality service...

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Solicitors versus Conveyancers

Posted on 9 April, 2017 at 23:35

A conveyancer is a solicitor, but just deals with property, right? Wrong. The two are different, and it is important to have the right one on your team, in order to avoid paying too much while still getting the advice you need.


Buying property is one of the biggest decisions most of us will make in our lifetime – it’s something you want to get right.


Every Australian state and territory has different laws, forms, regulations and taxes associa...

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