An increasing number of borrowers are seeking the services of a mortgage broker, especially after the banking royal commission revealed poor business practices among the major Australian banks. Using a broker doesn’t necessarily cut the banks from the picture but it can provide reassurance that you’re getting the most suitable deal in the market. A…
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Finding the right mortgage is an essential part of buying your dream property and it may require some legwork. Here are some of the key steps. Finding a lender: Approach Your Own Bank – They will have a portfolio of products designed to fit the varying needs of their customer base. They will know your…
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A loan application can feel like a report card on your personal financial progress. While it might be a little unnerving, it can also be a healthy dose of tough love. A poor credit history, lack of capital or inability to service a repayment schedule has nowhere to hide. Yet, signing up to a debilitating…
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It’s a sad fact that most homes are under-insured and too many owners will not make this discovery until it’s too late. Your home is your greatest asset and failure to protect yourself financially against fire, storm damage or any other type of disaster can prove an expensive mistake. Home insurance is not a set-and-forget…
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Your house will likely be your greatest asset and most significant source of debt. So, in these unsettling times, it’s a smart idea to find out if you have the best mortgage deal. The Reserve Bank has maintained the official cash rate (OCR) at 1% and signalled that it would move it lower to stimulate…
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Loan guarantees are possibly the fastest way to help young, first-home buyers enter the market. In most cases, parents will mortgage a portion of their own home to help their children meet property prices that would otherwise be beyond their reach. It’s a popular strategy when a market dips and buyers want to move quickly…
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There are multiple steps to take before applying for a home loan. Here, we break down the basic steps to make sure your experience with a lender is as smooth as possible. Save for a deposit Set an overall target and timeframe for the amount you wish to save. Make sure you put aside a…
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Owning an investment property is a little like running a business. It provides a great source of income and builds personal wealth but inevitably comes with a series of costs that hit your bottom line. The great news for property investors is that many of these expenses are currently tax deductible. It is a common…
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Saving for a new home or your first home is one of life’s biggest challenges but there are some great approaches to help you achieve you target amount faster. Saving for a property can take many months, even a couple of years. While it can feel a little isolating, many others are out there in…
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Major changes to obtaining a loan are being put into place after the Royal Commission into Banking revealed rorting and conflict of interest in the operation of some banks and financial advisors. Stricter guidelines are already being adopted across the banking industry and the impact is already evident with a squeeze on credit and downward…
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