Business, Equipment & Home Finance for SMEs
Many people wonder why they should use a Mortgage Broker instead of dealing with a Bank direct. Even though there are thousands of Mortgage Brokers across Australia, what they do and the value they provide is not well understood. Whether you're looking to buy a home, finance renovations, or build wealth through property investment, a [...]
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 often surprised about the amount of information and evidence they [...]
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 reasons. The good news is that, despite the recent developments, [...]
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 the past 12 months. Because of the lockdowns and a [...]
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: Far more information is required Applications are assessed in granular detail It can take far longer for an application to [...]
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 tax concessions available to monies held in superannuation. Why 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 advantage of higher interest deductions and as the debt is [...]
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 didn't know what a comparison interest rate was! Why the [...]
With Lenders rigorously assessing Home Finance applications, two common finance traps to be mindful of that may impact the amount you can borrow are: Credit Cards Use of popular Payday Schemes Even if you have no debt owing at the time of application, both credit cards and using payday schemes can limit your borrowing capacity. [...]
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. Subject to Lease – The Ground Rules Change Unfortunately, when a home is “subject to lease”, it can affect [...]
