Getting a home loan pre-approval puts you in the best position if you’re planning to buy property. What’s more, a pre-approval is essential if you’re bidding for property in an auction. While a home loan pre-approval may be conditional, it gives you a relatively secure assurance of the amount a lender is willing to loan you and how much your repayments will be. Here are 3 things you need to know about home loan pre-approvals.
Topics: Pre-approvals, Financial Advice, Home Loan Advice, Mortgage Advice, Buying property in Australia, Australia Mortgage Broker, Home loan pre-approval
In December 2015, the Australian Government introduced legislation that changed the way non-residents buy property in Australia. Under the new laws, foreign investors are limited in the types of property they can purchase and must first apply for approval to purchase from the Foreign Investment Review Board (FIRB). While it is much harder for non-residents to buy property in Australia, it’s not impossible.
Topics: Financial Advice, Home Loan Advice, Mortgage Advice, Buying property in Australia, Non-resident buyers, Australia Mortgage Broker, Non-resident lending
Before getting married or entering into a de facto relationship, you may want to consider signing a pre-nuptial agreement. Pre-nuptial agreements are a way to protect your financial rights and obligations; effectively a safety precaution that helps simplify property settlements if a relationship ends. Here’s what you need to know about pre-nuptial agreements.
Topics: Financial Advice, Home Loan Advice, Mortgage Advice, Buying property in Australia, Australia Mortgage Broker, Pre-nuptial, Binding Financial Agreement
With the rising cost of property across Australia, it’s not surprising that so many parents are stepping up to help their grown-up children buy property. In fact, it’s estimated that the “Bank of Mum and Dad” is one of the largest lenders when it comes to mortgage lending in Australia. If you’re considering helping your kids buy a home, here are a few ways that you as a parent can do that.
Topics: first home buyer, Bank of mum and dad, Financial Advice, Home Loan Advice, Mortgage Advice, Buying property in Australia, Australia Mortgage Broker
While a property valuation is often an essential step in the home buying process, in recent months home buyers across Australia have been left feeling frustrated and disappointed with the valuation process. Lower than expected property valuations have resulted in home buyers having to pay LMI or even lose the property if they can’t cover the shortfall. Here’s what you need to know about property valuations.
Topics: Financial Advice, Home Loan Advice, Property Valuation, Mortgage Advice, Buying property in Australia, Australia Mortgage Broker
No one likes to think about their own mortality which is probably why so many people avoid writing a will. But the alternative has far-reaching implications: dying intestate – without a will - means your estate is distributed according to strict legal formula rather than how you would want it distributed. To help you prepare for life’s unexpected events, here are some of the things to think about when preparing a will.
Topics: Financial Advice, Home Loan Advice, Writing a Will, Mortgage Advice, Buying property in Australia, Australia Mortgage Broker, DIY will kit, Preparing a will
For potential first home buyers, buying a property “off the plan” could be an affordable means of getting a foot onto the property ladder. Of course, as with any real estate investment along with the benefits come a number of risks and before you commit to an off the plan property, it’s important you understand exactly what these are. Take a look at the pros and cons of buying off the plan.
Topics: Financial Advice, Home Loan Advice, Mortgage Advice, Buying property in Australia, Australia Mortgage Broker, Off the plan
Looking to create your dream home but not sure where to start? Being an owner builder could be an option. Doing the work yourself has its benefits – more control over the project, greater satisfaction on completion, and potential cost savings - but there are a number of risks too. To help you determine whether an owner builder loan is the right finance option for your project, here are some things to think about.
Topics: Financial Advice, Home Loan Advice, Mortgage Advice, Australia Mortgage Broker, Owner Builder Loan
Saving a deposit for a mortgage is often the biggest hurdle for many first home buyers. Rising property prices in some areas in Australia means it can take years to save up enough of a deposit. Add to that the cost of Lenders Mortgage Insurance (LMI) and it’s easy to see why so many first home buyers struggle to get a foot onto the property ladder. But that’s all about to change with a Government scheme aimed at helping more first home buyers.
Topics: First Home Owner Grant, first home buyer, Financial Advice, Home Loan Advice, Mortgage Advice, Australia Mortgage Broker, First Home Loan Deposit Scheme
This month, we asked one of our top referring Harcourts agents Gavin Kohan, Property Sales Consultant based in Frankston, Victoria to update us on the general feeling in the Victoria property market. Gavin shared his insightful perspective around recent changes to the property market, trends that he’s seeing on the ground, and his predictions for the future of Australian property.
Topics: lending options, Financial Advice, Home Loan Advice, Mortgage Advice, Australia Mortgage Broker
