What you need to know about self-employed home loans
Risk is a huge consideration when it comes to banks and responsible lending. When you are applying for a loan with a bank, they will want to minimize their exposure to risk in a whole number of ways. The main one is to ensure you have a reliable income with which you can make […]
Homeownership vs renting
Times have been tough for tenants in recent times as vacancy rates have tightened to record lows and asking rents have risen by double-digit percentages for consecutive years. But homeowners still paying off their mortgages have had their challenges. The RBA cash rate has risen from 0.1% to 4.35% and banks have hiked interest […]
Should I refinance in 2024?
Australians refinanced at record levels in 2023, which was understandable. There’s nothing like being slugged with hundreds or even thousands of dollars extra a month in interest repayments for getting you engaged with your finances. Many borrowers had been lulled into a state of complacency because, until early 2022, it had been more than […]
How to reduce your loan repayments
A 25 or 30-year mortgage term is a long time to be paying interest to a lender and in the end you’ll end up paying back a lot more than you originally borrowed. The good news is that there are several positive actions you can take that will reduce your overall bill significantly. Say […]
Refinance cash rebates
Recent RBA rate rises have seen the refinancing market become super competitive. With record numbers of borrowers looking for better deals, banks have had to come to the party with some tasty offers in order to win their share of the business. About a year ago, it was common for banks to offer cash […]
Refinancing to get better interest
Homeowners and investors are refinancing at never-before-seen levels as rising interest rates take their toll. PEXA research showed more than 450,000 homeowners refinanced in the 2022-23 financial year, while an InfoChoice survey revealed two-thirds of mortgage holders are planning to do so in the near future. The rush to switch lenders has come about […]
Consequences of choosing the wrong broker
Mortgage brokers can play a huge role in helping property investors reach their goals, or on the flipside…fall short. Taking out the wrong loan product can be costly in the short term, and that pain will be compounded over time, especially if you end up stuck in a bad financial situation as a result. […]
Unlocking equity to invest
Do you want to buy an investment property but don’t know how to raise a deposit with the rising cost of living and mortgage repayments taking up all your spare cash? The solution might be right there in your own backyard…or the backyard of an investment property already in your portfolio. You don’t always need […]
What to do when out of borrowing power
One of the biggest effects of the RBA’s year of rate hikes has been a significant reduction on borrowing power for everyone. Owner-occupiers have had to face up to being eligible to borrow up to 30% less than this time last year in some cases. Imagine looking for properties with a million-dollar budget in […]
How to structure your property loans to make the most of tax
Getting your loan structure right is essential for building a big property portfolio, as it can prevent you from getting stuck and unable to refinance to invest further down the track. But it’s also important to get it right for tax reasons. The correct structuring of investment property loans can mean thousands of dollars […]
