Loan Basics
It’s one of the less glamorous home loan features, but the redraw facility deserves a second look. Here’s why:
Buying property off the plan is exciting as it means you get to own a brand-new home, but make sure you know what’s involved.
Looking for ways to pay off your mortgage in record time? Whether you’re a seasoned investor or buying your first home, an offset loan can help you reduce interest payments, save on tax and pay your mortgage off years ahead of schedule.
There are certain things to look out for when selecting and applying for a loan for your investment property. Here we look at the main differences, the most popular loan types, and how to get the best mortgage for your situation.
While it might seem intimidating, restumping your house doesn’t need to be a nightmare. Keep your cool and understand what you need to know to find a good contractor, and you can get the job done with a minimum of stress.
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.
Congratulations! You’ve just bought a property at auction. Before you can move in, there are some things you need to do. Remember, it’s always recommended to seek legal advice when purchasing a property.
When there’s a separation or divorce, debts you’ve accrued during the relationship unfortunately don’t go away. The longer a couple is together, the harder it can be to unravel all the financial connections.
There are advantages and disadvantages to managing your own property. Let’s look at why you may want to do it yourself and why you might hire a professional.
After months of househunting, you’ve found your ideal home or investment property. When auction day is approaching, it’s time to get serious about preparing to bid.
Here’s a checklist of five essential things to do before putting up your hand at auction.
Renovation sites can be dangerous places, but your kids may not know that. We look at how you can keep children safe on site.
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.
Wondering how to pay off your home loan sooner? We look at some things you could do.
When it’s time to renovate, everyone wants to save money. It’s fine to be hands-on for some tasks, but there are a few projects that are definitely not DIY friendly. Here’s a guide to what you may want to do yourself and what you should leave to the professionals.
Using a mortgage broker to help you choose a home loan can save you considerable time and could result in huge savings. However, before you decide on a broker, you need to make sure they’re going to meet your needs. Here are some questions to ask.
Most parents want their children to achieve the Australian dream of home ownership. The good news is that parents can actually play a key role in making this happen by teaching their kids the basics of finance and instilling good behaviours that will last a lifetime.
The Australian finance market is complex and constantly changing. The dominance of the ‘Big 4’ banks has contributed to a perception that all lenders are the same. The reality is that consumers are spoilt for choice.
The trend for Gen Ys to stay at home well into their 20s – and beyond – is having a significant knock on effect: a generation of adults lack skills and parents looking at working well into their 70s to make up for the additional expense of kids at home.
Increase your cash return by identifying depreciable assets commonly missed.
Young couple Sam and Kate were keen to start paying off their own home rather than paying rent, but had no savings. Here’s how they bought their first property.
There are plenty of upsides to buying an investment property that already has a tenant, as well as a raft of risks. Here’s how to minimise them.
If you buy and sell an investment property, you may be required to pay capital gains tax (CGT) on that sale. It’s important to understanding this tax when buying or selling a home.
ntercorp Financial Strategies can help connect you to the lender best suited to serve your mortgage needs by shopping around on your behalf.
When a busy doctor who had worked with banks to set up finance for her investment properties visited an MFAA Approved Credit Adviser, she walked away with three more properties and a newly simplified finance structure that saved her money.
There’s no question that the GFC changed lending. For Maria Vincent, policy changes associated with the GFC meant that the lender she already had a mortgage with wouldn’t allow her to release equity from her property to purchase another.
When you’re desperately trying to save up a deposit for a home and just see the prices of property climbing and climbing, it’s difficult to remain patient. But there is another way: a guarantor can help.
While MFAA-accredited members are bound to ensure you don't borrow more than you can service, ultimately only you can decide how much you should borrow.
If you have a stable income but don’t have the cash for a deposit, an expert may help find a way to turn your dreams into reality.
When you’re trying to secure finance for an investment property, it’s important to keep a few simple rules in mind to make sure you get the best deal possible and will be able to afford the repayments, come what may.
When you take out a mortgage or home loan, you can choose to have an interest rate this is fixed, variable, or split (a combination of the two). There is no right or wrong option – it all depends on your circumstances.
Any renovation project, large or small, can be all-consuming in terms of your energy and money. Here are six loan types that can help you with the latter.
Ready to build or buy now, but haven’t yet sold your old property? Bridging finance could be the answer to keep the ball rolling.
Here we explain a number of the basic terms and definitions used in home loans, mortgages and business finance.
When they take out a mortgage, many people forget to consider the associated fees and expenses. Here are some of the extra costs that you'll need to consider when you take out a home loan.
In the past, the only mortgage lenders were banks, credit unions or building societies. More recently, another home loan lender has emerged: the mortgage manager or non bank lender.
The array of mortgages available helps a good credit adviser to tailor a package to suit your needs. Here are just some of the options.
Saving for a home? If you haven’t met with a credit adviser yet, it may cost you. Here’s why.
Sometimes, getting a deal over the line in time requires a conversation with an industry expert.
As the home loan market becomes increasingly complex, more people are turning to credit advisers. Here are some of the reasons.
The first step in buying a property, a business or commercial equipment is often securing the finance, and the ‘make or break’ nature of that can make the first meeting with a credit adviser a daunting prospect.
Wondering why your credit adviser is contacting you six months after you’ve settled on your property? The simple answer is that a credit adviser is with you for life.
Looking to lower his car repayments to manage his cashflow a little better, Dan Simpson didn’t realise that the payday loans he had been using to get through a difficult period would jeopardise a loan application.
Having a mortgage expert on your side can be the key to getting your finance over the line, and may save you thousands in interest and fees.
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.
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.
Whether you are buying land for an immediate build, as an investment or for a ‘one day I will build and live here’ dream, a vacant-land purchase can be financed by a range of mortgages.
Paying off a mortgage can seem relentless – every payment counts of course, but it can seem to be taking forever to make a dent. Here are some simple ways you can increase the amount you pay off and own your home sooner.
A line of credit can be a very appealing idea, with immediate access to the limit of a mortgage and no extra approvals necessary. Used wisely, it can make investment and purchase of commercial equipment simple, but it can also spell disaster for the unprepared.
Construction loans are just not as straightforward as simple home loans. There are additional decisions to be made about the structure of the loan, additional documentation is required and the funding is released in an entirely different way.
Are you flying solo and starting to think that buying a property will never be possible? There’s really no need to wait for a knight, or lady, in shining armor to come along, as securing finance on a single income does happen.
Sometimes an individual is left with a bad credit rating after the breakdown of a relationship, and can be rejected by lenders because of it. But that need not be the end of the story.
If you’re looking for a creative way to overcome being locked out of the property market by rising prices, buying a house with a group of friends may be a solution. It can also be a minefield though, so here’s how to avoid a blast.
It can be stressful if you find yourself unable to meet your mortgage repayments and you're in danger of defaulting. But you're not the first person to face difficulties, and there is almost always a solution. You just need to talk to the right people at the first sign of difficulty.
If you don’t receive approval don’t give up. Speak to a professional in the industry and keep your dream alive.
Comparing apples with oranges doesn’t make sense. To make finding the right loan easier, and to make advertised rates as transparent as possible, we have comparison rates.
Negotiating the best property price isn’t a matter of swindling a seller. It’s about doing your homework, knowing what you want, knowing the market and making sensible offers.