It pays to plan ahead to avoid disappointment, delays, and a lot of frustration when applying for a home loan! This is even more so in a housing market where supply is constrained, and prices are accelerating. Even borrowers with an established track record, are…
Many seasoned business owners are perplexed by how difficult it can be to obtain Self-Employed Home Loans. Historically, one of the easiest types of finance to obtain was home finance. However, as many have discovered, this is no longer the case for a variety of…
Until the impact of COVID-19, in our experience, too few borrowers regularly took the time to undertake a full Home Loan Review. With more time on their hands due to the lockdowns and the resulting cashflow pressures on households, this appears to have changed over…
For many years experienced property investors have used finance to take advantage of opportunities and build their wealth. However, over recent years for a host of reasons, property investors have found accessing finance increasingly difficult:
The First Home Super Saver Scheme was originally introduced in 2017, updated in 2019 and then extended further in the 2021 Federal Government Budget. The Scheme is designed to assist first home buyers to build a deposit for a home by taking advantage of the…
Interest Only Loans have been favoured by homebuyers and property investors for many years as way of preserving cash flow. (If you are not paying off principal, then you have more cash available for other purposes). For property investors, not paying principal also has the…
If you are borrowing money for a new home, renovations, investment, or a car, it is important to understand what the true cost of the finance - the comparison interest rate. A recent Survey undertaken by Loan Market revealed that up to 40% of borrowers…
With Lenders rigorously assessing Home Finance applications, two common finance traps to be mindful of that may impact the amount you can borrow are:
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.
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.