There are a range of home loans available in Australia, so it can be hard to understand their features and whether they are right for you. This guide explains all you need to know. Variable loans Variable loans are loans that are subject to interest rate fluctuations. Whenever your bank increases or decreases interest rates, … Read moreHome Loans 101
Do you know the date your fixed rate term comes to an end? Once it finishes, the bank will generally switch you over to a standard variable rate (SVR) which is much higher than the special variable rate they will offer to new customers and your fixed rate – unless you act fast! Think of how … Read moreWhat happens when your fixed rate expires?
If your home loan is no longer meeting your financial needs or your bank arrangements have changed, you might consider refinancing to another lender. Refinancing could save you money over the long term. A Mortgage Broker will shop around and find a loan that will meet your financial objectives and goals. This may include, finding … Read moreRefinancing Home Loans
Genuine Savings for a Home Loan Deposit Saving for your first home can be a hard job. It takes commitment, time and dedication to get that deposit together. So, what do banks look for? Generally, financial institutions require borrowers to be able to demonstrate that they can be good savers. Home loan repayments need … Read moreGenuine Savings
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 … Read moreWhat you can borrow or what you should borrow?
Because they can save you time and money As the home loan market becomes increasingly complex, more people are turning to a mortgage broker. Whether you’re in the market for your first home or building a portfolio of investment properties. Here are some of the reasons. A mortgage broker can save time The choices that … Read moreWhy would I use a mortgage broker?
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 … Read moreHow redraw works and why it’s a handy loan feature
If you’re serious about buying a property, knowledge is power – that means asking loads of questions before signing dotted lines. Questions to ask the real estate agent: Can you show me a recent property sales report to show what the house is worth? Why you need to ask: This question will answer as … Read more7 must-ask questions when buying a property
The home loan market is constantly changing, with new and attractive deals coming up all the time. Refinancing can help you secure a more competitive interest rate, access the equity in your home, add features (such as an offset account) or consolidate your debts, but there are some important questions to consider before you get … Read moreThree questions to ask before you refinance
In this present climate of low interest rates, there are some great ways to maximise the impact of these low rates on your finances that will help support your financial growth. COMPLETE A REVIEW OF YOUR present loan FACILITIES In a low interest rate environment like at present it is easy to be complacent. By … Read moreGreat tips for making the most of lower interest rates