Buying a Home that is Subject to a Lease
I was recently involved with arranging finance for a client who was buying a home that is "subject to lease". That is; the property had tenants and the lease still had some 6 months to run.
The Household Expenditure Measure
During the Banking Royal Commission there was a heavy focus given to the Banks' use of the Household Expenditure Measure when assessing Home Finance applications. Some Lenders were criticised for over-reliance on the tool, rather than undertaking analysis of an applicant’s monthly expenditure.
The Home Finance Handbook – Free eBook
If you are buying a new home, upgrading or undertaking major renovations, download our free eBook - The Home Finance Handbook. The residential finance market has changed considerably over the past two years. This has come about because of the Banking Royal Commission, the softening…
Home Loan Pre-Approvals – What you need to know!
A Home Loan Pre-Approval is a “Conditional Approval” or “Approval in Principle”. It is an indication by a Lender that, subject to certain conditions being satisfied, and based on the information provided, they will extend finance up to a particular level and on what terms.…
First Home Buyers Loan Deposit Scheme
As part of the election campaign, the Federal Government announced if re-elected, they would introduce the First Home Buyers Loan Deposit Scheme. The Labor Shadow Treasurer has said if elected they will match the scheme. How the First Home Buyers Loan Deposit Scheme will work…
The First Home Super Saver Scheme
The Federal Government introduced the First Home Super Saver Scheme in 2017. They designed it to assist first home buyers to build a deposit for a home by taking advantage of the tax concessions available to monies held in superannuation.
Good Customer Outcome – Finance to purchase a new home
Explored Options Given clients level of savings and that their serviceability position was sound -brainstormed potential solutions with our office team
How parents can help their children buy a home
Over the past few years, in Australia we have seen an increasing number of parents helping their children to buy a home. Initially, this trend was driven by rapidly escalating property prices and the desire to help their children purchase a home whilst it was…
How to pay off your Home Loan faster!
With wages plateauing, it can be hard to find the extra cash to pay off your home loan faster! With interest rates at record low levels, it is important to explore ways to pay off your home loan faster.
Track your spending with Pocketbook
Pocketbook is a free App developed in Australia that people can use to understand and monitor their spending patterns. Recently, we have outlined how Banks look at applicants’ monthly expenditure in granular detail, when assessing home loan affordability. They do this by going through your…