We have had heaps of calls recently from first home buyers wanting to get out of the rental market and into a home of their own. The biggest hurdle most of them are faced with is how to come up with the deposit. When you pay rent and then have to come up with even…
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Collateral, Capacity, and Character When I first started in lending many years ago – these were the pillars of any lending assessment made by a bank. And it has not changed. COLLATERAL Deposit – or how much skin have you got in the game? Harder to please when you have less than a 20% deposit.…
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If you’ve only taken out your home loan in the last few years, refinancing is probably the last thing on your mind. But having a set-and-forget attitude to your home loan is not ideal! Leaving your home loan unchanged for its entire term could mean you miss out on substantial savings, or opportunities to…
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With increasing property prices, and also the required 20% deposit to avoid mortgage insurance some young people are looking to the family for assistance to buy their first home. After all, it can take some time to save as well as pay rent. Normally a 5% deposit would be minimum to get into a property…
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You may have heard about recent changes to major bank policies and interest rates etc. These are big changes that are affecting buyers and investors all over Australia. Basically APRA (Australian Prudential Regulation Authority) has said “Whoa Girl!” – they have big concerns about the growth in the major banks investment portfolios, and accordingly have either…
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Mortgage brokers are professionals in the home loan industry. They work with you to determine your borrowing needs and how much you can borrow. Brokers help ensure you don’t take out a loan that is too big for you. Professional mortgage brokers only focus on loans. This means a broker is an expert in loans…
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Should I Use A Home Loan Mortgage Broker In Brisbane? There are many reasons why people need a credit or to borrow money. And there are many different types of people as well. Using a mortgage broker you can easily get your desired home loan at the best interest rates. We have looked at our…
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When you’re self-employed and want to obtain a loan, for example for the purchase of your new home, there are certain restrictions and additional procedures you should be aware of, as compared to the average person who is employed by a company. Unfortunately, even though you may earn more than the average salaried employee, these…
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In our lives, we are often assaulted by a battery of policies and rules. There are government policies governing the way we live our lives. There are educational policies governing the way our children are taught. There are workplace policies to provide guidelines for how we should work and behave at the office. Even at…
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Refinancing is the option for you to convert one or more existing debts into one consolidated long-term debt. Essentially it allows you to treat your debts as Playdoh – You still have the same amount of debt, but in different forms, shapes and sizes. Why then would you ever consider refinancing, considering that it’s essentially…
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