Eligibility Criteria
So you’ve decided to buy a property. You’ve saved a deposit, researched the local market and now you’re ready to go. But are you even eligible for a home loan? You may know you’re “good for the money” when it comes to making repayments, but banks don’t operate that way these days. Once upon […]
Different home loan types explained
These days, there is an almost never-ending array of loan products to choose from, and scores of lenders to provide them. And it’s just as well, because more borrowers than ever before are refinancing in order to get a better deal or a structure that suits them better. In fact, the latest data from […]
How inflation affects your mortgage
Inflation has been running rampant over the past year and the government and RBA are pulling their hair out trying to get it under control. The most recent inflation rate was recorded at 7.3%, up from the previous rate of 6.1%. It is now at the highest point it has been in Australia since 1990. […]
What is LVR and why is it important?
Banks need a buffer to safeguard their investments when they lend money to home buyers. That buffer is your home deposit. As a general rule, banks like borrowers to have a deposit worth 20% of the price of the property. This then means your Loan to Value Ratio (LVR) is 80%. If the bank lends […]
Updates to First Home Buyers Grants/Schemes
November will mark 6 months since Labor came to power in the federal election. Labor’s campaign saw them promise a ‘Help to Buy’ scheme, where the government would co-purchase up to 40% of the cost of a new home, or 30% of an established home. The plan aimed to help middle to low income and […]
How do you increase your borrowing power with the banks?
Aggressive back to back rate rises by the RBA have put a lot of would-be investors in a much different position than they were back in April this year. While rents have been rising and some property prices have begun to fall, presenting investors with some opportunity to build wealth and bring in strong cashflow, […]
RBA Cash Rate Announcement – October 2022
The RBA has hiked the cash rate again in October, though this time it took the foot of the throttle slightly and hiked by 25 basis points instead of 50, to now sit at 2.6%. Many analysts had been anticipating the full 50 point rise, especially on the back of the latest inflation figures, so […]
Settlement & beyond
First time investors often sign on to a loan to purchase a property, without realising they are hampering their future investment opportunities. Later on, they realise they have made fast equity and want to withdraw some for their next investment, but find they can’t because their mortgage broker has signed them onto a deal which […]
The Lending Year That Was In 2021
The lending year that was in 2021 2021 was another crazy year in every sense of the word. Of course there was the pandemic, which put a stamp on us all for the second year running, with the Delta variant first becoming the dominant strain of Covid, followed by Omicron at the end of the […]
Buying Properties In 2022 – Get Organised
Here we are at the pointy end of the year already. And 2021 was a crazy one. Just as people spent the year going in and out of lockdowns, worrying about vaccines and facing financial uncertainty, property markets boomed all around the country. If you were looking to buy, the year may have gotten away […]
