Many parents decide to help their children onto the property ladder; so much so that the Bank of Mum and Dad is now recognized as the fifth biggest lender in Australia. While providing a guarantee or even dipping into your own property’s equity to gift your children the money is commendable, it’s also a big commitment and not without risk. If you are considering doing this, here are four questions you need to ask yourself.
Topics: Mortgage Broker, Australia Mortgage, Lenders, Home Loan Advice, Home loan rates, Buying property in Australia, Bank of mum and dad, Guarantor, Investing in Property
Tighter regulations have made it tougher than ever for non-resident buyers to buy property in Australia. While the process may seem near impossible to navigate, once you understand the framework the Government uses to approve applications, it’s actually fairly straightforward. Take a look at what you need to know.
Topics: Mortgage Broker, Australia Mortgage, Lenders, Home Loan Advice, Home loan rates, Non-resident buyers, FIRB, Buying property in Australia
When you’re shopping around for a mortgage, there’s a lot more to consider than just the interest rate. Which is why it pays to work with a mortgage broker who understands the complexities and can guide you every step of the way. But choosing the right mortgage broker can also be tricky. Here are 5 questions we suggest you ask before deciding on a broker.
Topics: Mortgage Broker, Australia Mortgage, Mortgage Debt, Mortgage Terms, Home Loan, Home Loan Advice
When assessing your home loan application, your lender will look closely at your financial situation, including your employment history, your income and any assets, as well your liabilities – or debt – and your outgoing expenses. Your debt to income ratio (DTI) is an important factor in this process, which some lenders use to measure your ability to make repayments.
Topics: Mortgage Broker, Australia Mortgage, Lenders, Home Loan Advice, Home loan rates
Every lender has its own method and formulae for determining an applicant’s credibility and lender-ability. While the criteria may differ from lender to lender, there are a few factors that all lenders use to profile their clients. Take a look at what these are, and we also share a list of guidelines to ensure your mortgage application is error-free.
Topics: Mortgage Broker, Australia Mortgage, Lenders, Home Loan Advice, Home loan rates
Buying a home is one of the largest and most complex purchases you’re ever likely to make. And getting it wrong can have a significant impact on both your financial and emotional health. That’s why it’s important to take time to fully research and understand the process and the complexities that go along with home buying. Here are our home buyer traps to avoid.
Topics: Mortgage Broker, Australia Mortgage, Home Loan Advice, Home Loan, buying property, Buying a home, Investment Property, Home Buying Traps
While auctions can be an incredibly stressful and intensive – even intimidating - way to buy property, they are also one of the fastest and simplest means of selling property. As a prospective buyer, it’s important you’re familiar with the highly unpredictable and often fast-paced process of an auction in order to be successful. Here are some tips.
Topics: Mortgage Broker, Australia Mortgage, Home Loan Advice, Home Loan, property auction, Auctions, Buying at auction
It’s not a subject most people enjoy talking about, but it’s an important one none-the-less. Writing a will ensures your assets are distributed as you would want them. When someone passes away without a will, the law determines how their assets are divided regardless of what they or their family want. Here’s what to think about when writing a will.
Topics: Mortgage Broker, Australia Mortgage, Home Loan Advice, Home Loan, Writing a Will
Refinancing your mortgage to get a better deal or to use the equity in your property means arranging a valuation of your property to determine its value. Getting a lower than expected valuation can affect the interest rate your lender offers as well as the amount of equity you’re able to tap into. Here’s how to maximise your property’s valuation.
Topics: Mortgage Broker, Australia Mortgage, Home Loan Advice, Home Loan, Refinancing Options, refinancing, valuation, Property Valuation
Buying off the plan is becoming an increasingly popular option for good reason. As well as getting a brand new home, you’re also buying at a set price and usually only need a small deposit. However, if you do decide to go down this route, it’s vital you go in with your eyes wide open. Here are some of the things you need to think about when buying off the plan.
Topics: Mortgage Broker, Australia Mortgage, Home Loan Advice, Home Loan, Refinancing Options, refinancing, Buying Off-The-Plan, Buying Off-Plan
