Preparing a detailed business plan will inform the lender about your business proposal so that it can assess your application as favourably as possible
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.
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.
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.
Self-employed borrowers come up against the challenge of not being able to simply present payslips and tax returns to back up their loan applications. But this need not stop you buying your dream home.
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.
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.
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.
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.
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.
Heard about mortgage refinancing? In the past, most people who took out a mortgage doggedly continued with it until they had paid it off. These days, people refinance their mortgage much more frequently. The average duration of a home loan in Australia now is just 4-5 years. Here we look at some of the reasons people in Australia refinance their home loan.
You want to buy a business or expand one. You need new business premises and equipment or more working capital. You know business finance is the answer but you're confused by the range of lenders and products. Time to talk to an MFAA member.
If you’re running a small business, one of the biggest problems you face is cash flow. Here we look at some of the ways in which you can improve the cash flow of your business.
If you're an importer and your overseas supplier wants a huge deposit before they'll supply the goods, what do you do? Consider a letter of credit.
Does your business need refinancing or restructuring? As this tale of a business with urgent liquidity problems shows, having a credit adviser managing the project can be the key to success.
How do you match a loan and lender to your needs? Rather than running around finding out the details of each and every lender and loan, draw on the expertise of a credit adviser.
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.
Many people in Australia dream of running their own small business but four out of five never do it. If you’ve got a good idea, develop a business plan, then talk to an MFAA Member about your small business finance options.
Many small business operators choose to lease rather than purchase their company cars because it's better for their cash flow.
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.
Instead of purchasing computers, plant or other business equipment, many businesses use commercial leasing because it improves their cash flow. Here we look at some business equipment finance options.
You’ve saved your deposit and you’re ready to start looking at properties, but have you considered all the details? Here are 10 questions to which you need answers.
With the help of her MFAA Approved Credit Adviser Lydia* was able to buy her first home hassle free. Purchasing her first home could have been a complex task for Lydia*, who spent most of the year out of town, leaving little time to search for properties.
The most important step you’ll need to undertake is to speak with an MFAA Approved Credit Adviser. Use the credit adviser search feature on the Essentials of Borrowing homepage to find an MFAA member in your area. After you’ve made an appointment make sure you listen to what they have to say, it may save you time and money.
If you don’t know a lot about the mortgage market you might decide to go with a basic home loan. But for many people this wouldn’t be the most appropriate option. Here we look at just some of the more common home loan & mortgage options.
Traditionally, you've needed at least 20% deposit to get a home loan. It's all about loan to value ratios (LVRs).
Choosing the person who will help you make one of the most important decisions in your life can be daunting. Here’s how to find your credit adviser.
Most people know that reducing their debts can increase their borrowing limit. But did you know that lowering your credit card limit can increase your borrowing capacity?
Saving for a home loan or mortgage isn't glamorous but it has to be done. So here are some savings tips for first home buyers to help get you into the property market.
If you think you’ve found a home loan that sounds almost too good to be true, unfortunately, it probably is. Here we look at some of the traps you should look to avoid in taking out a mortgage.
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.
When Jane* approached credit adviser Nicole Cannon, she wasn’t sure whether she could buy her first investment property. With good advice and a private treaty, Jane managed it at a favourable price.
From the moment you take out a mortgage, you'll take a much keener interest in Australian interest rates. Should you be on a variable rate mortgage or a fixed rate mortgage? Here we look at your home loan refinancing options as interest rates rise and fall.
When considering an investment property, your first port of call should be your credit adviser. An MFAA Approved Credit Adviser can help you achieve your investment property goals. They will review your assets and liabilities to determine how much you can borrow, which will in turn give you a general idea of your target price range, so you can narrow your property search within your purchase budget.
Many people refinance their home loan because they’re looking for a lower interest rate, lower payments or more flexibility. If that is your goal in refinancing, then you have a wide range of products to choose from. However here we look at some specific mortgage refinancing options people use to deal with some common situations.
If you're swamped with credit card debt and personal loans, it can sometimes help to talk to a professional about debt consolidation. However, you need to be wary. You might end up paying more in the long term and/or reduce the equity in your home.
Many Australians own homes that are now worth far more than they still owe on their mortgages. With a home equity loan, you can unlock that “equity”.
The reverse mortgage or equity release loan is a relatively new mortgage product that has been created for retirees who are asset-rich but cash-poor.
More people these days are taking out investment loans to buy investment properties or shares. Here we look at some of the things you need to consider when you borrow to invest.