Coping with mortgage stress

Jun 23, 2019 2:55:00 PM

New data shows a sharp increase in the number of homeowners going into retirement with a mortgage, while the average debt-to-income ratio amongst those with mortgages has pretty much doubled across every home-owning age group. Not surprising, mortgage stress is also on the rise. We share our tips for coping with and avoiding mortgage stress.

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Topics: Lenders, Mortgage Repayment Cover, mortgage stress, lending options, Mortgage Advice, Australia Mortgage Broker, Borrowing Advice

First tier lenders vs. second tier lenders

Jun 17, 2019 5:26:40 PM

Stricter lending conditions across Australia have led to a rise in the number of borrowers turning to second tier lenders for finance. Second tier lenders – who can be smaller banks or non-bank lenders – whilst also tightly regulated, can often have more flexibility in the rates and fees they can offer. As a borrower who doesn’t quite meet bank lending criteria of the Big 4 Banks, a second tier or non-bank lender may be the answer.

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Topics: non-bank lender, lending options, Mortgage Advice, Australia Mortgage Broker, First Tier Lender

A step-up for first-home buyers

May 22, 2019 9:39:23 AM

With the election results just in and the Coalition party having secured a majority government, there will be some changes ahead. Prime Minister Scott Morrison has introduced a new $500 million First Home Loan Deposit Scheme that will enable 10,000 first home buyers buy a home with only a five per cent deposit. Find out what you need to know as a first-home buyer.

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Topics: First Home, First Home Owner Grant, first home buyer, Mortgage Advice, First time homeowner, Australia Mortgage Broker, First Home Loan Deposit Scheme

Understanding Borrowing Capacity

May 17, 2019 11:22:30 AM

Before going house hunting, it makes good sense to know how much you can actually borrow from your lender. Your borrowing capacity is the amount that a lender will lend you to buy a property. Sounds simple but it’s not: there are all kinds of factors involved that determine the amount a lender comes up with, and your loan amount can vary from lender to lender. Read on to find out more about borrowing capacity.

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Topics: Lenders, Mortgage Advice, Australia Mortgage Broker, Borrowing Advice, Borrowing Capacity

Preparing for end of financial year

May 17, 2019 11:18:47 AM

It’s almost that time of year again: Tax time! And if you’re lodging a tax return for the first time, you’ve likely got many questions on your mind. To help you prepare for end of financial year, we’re sharing our tips around what you need to do, what you can claim, and some of the mistakes to avoid.

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Topics: Financial Year End, tax time, Income Tax, EOFY, Investment Finance, Australia Mortgage Broker, Property and Investments

Buying a home with a small deposit

May 10, 2019 8:00:39 AM

If you’re struggling to save a deposit to buy a property, you may be wondering what your options are. Should you keep saving and potentially miss out on a bargain or optimal buying conditions in the market, or do you push ahead and apply for a mortgage with a small deposit? While it’s not easy securing a mortgage with a small deposit, it is certainly possible. Here are three ways to do this.

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Topics: lending options, Low Deposit, Home Loan Advice, Low Doc Home Loan, Australia Mortgage Broker, Home Loan Application

5 First home buyer mistakes to avoid

Apr 15, 2019 11:56:33 AM

When buying your first home, it’s easy to get swept up in a whirlwind of excitement and make mistakes that could end up costing you later on. Even if you’ve done your research and have a good understanding of the property market, there’s a lot to take in and to think about. Here are 5 first home buyer mistakes to avoid.

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Topics: First Home, lending options, Home Loan Advice, Australia Mortgage Broker, Home Loan Application

How to get a home loan when you’re self-employed

Apr 15, 2019 11:48:11 AM

When applying for a mortgage, most lenders require you prove your income which can be a challenge if you’re self-employed; particularly if you haven’t already done your taxes or been in business for very long. But that doesn’t mean the end of your home ownership dreams. At Mortgage Express, we help self-employed borrowers every day, working with lenders who offer alternative options and access to competitive home loans.

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Topics: Credit Check, Self-Employed, lending options, Home Loan Advice, Small Business Lending, Australia Mortgage Broker, Home Loan Application

Can bad credit stop you getting a home loan?

Apr 15, 2019 11:44:44 AM

Bad credit happens for all sorts of reasons: illness, divorce, redundancy, causing you to miss payments and end up with a black mark against your name. Even if you do manage to pay the overdue bills, clear your debt, or fix up a default on a loan repayment, your credit history may still be impaired. Read on to find out what bad credit is and what your options are when it comes to securing a home loan with bad credit.

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Topics: Credit Card Debt, Credit Check, Bad Credit Home LOan, Bad credit, Comprehensive Credit Reporting, Home Loan Advice, Australia Mortgage Broker

Changes ahead: Capital Gains Tax and Negative Gearing

Apr 15, 2019 11:39:48 AM

The 2019 Australian federal election will take place on 18 May 2019 to elect members of the 46th Parliament of Australia. The poll will decide whether the conservative government wins a third term or is replaced by a Labor administration led by Bill Shorten. In the lead up to the election, the ALP has announced a number of proposed changes around capital gains tax and negative gearing. Read on to find out how this could impact you.

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Topics: Negative Gearing, labour government, Capital Gains Tax, CGT, Home Loan Advice, Australia Mortgage Broker