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.
Topics: lending options, Low Deposit, Home Loan Advice, Low Doc Home Loan, Australia Mortgage Broker, Home Loan Application
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.
Topics: First Home, lending options, Home Loan Advice, Australia Mortgage Broker, Home Loan Application
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.
Topics: Credit Check, Self-Employed, lending options, Home Loan Advice, Small Business Lending, Australia Mortgage Broker, Home Loan Application
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.
Topics: Credit Card Debt, Credit Check, Bad Credit Home LOan, Bad credit, Comprehensive Credit Reporting, Home Loan Advice, Australia Mortgage Broker
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.
Topics: Negative Gearing, labour government, Capital Gains Tax, CGT, Home Loan Advice, Australia Mortgage Broker
Comprehensive Credit Reporting (CCR) is Australia’s credit reporting system which aims to make it easier for lenders to assess an applicant’s credit history. With CCR, when you apply for credit, authorised lenders will have access to up to 2 years of your repayment history, along with detailed information of your credit accounts. Find out what the change to CCR means for your finances.
Topics: Lenders, CCR, Comprehensive Credit Reporting, Home Loan Advice, Australia Mortgage Broker, Home Loan Application
There’s a lot to think about when it comes to divorce or separation, including a number of decisions that need to be made around your biggest asset: the family home. How property is divided in a divorce or separation will differ in each situation and may need to be decided by the Family Court. Here are some of the things you’ll need to think when it comes to splitting the family home in a divorce or separation.
Topics: separation, divorce, Home Loan Advice, Mortgage Terms, Australia Mortgage Broker, Home Loan Application
If you need to free up a little cash as you head into retirement, a reverse mortgage could be the solution. A reverse mortgage lets you mortgage your property so you can access your equity with no repayments required until you move out. For many retirees, a reverse mortgage offers financial security to cover those unexpected expenses – like home repairs or major surgery – without having to sell the family home. Read on to find out more about a reverse mortgage.
Topics: Retirement, Home Equity Loans, Home Equity, reverse mortgage, Home Loan Advice, Australia Mortgage Broker, Home Loan Application
If a bad credit rating is making it hard for you to get a home loan, it doesn’t mean you need to shelve your home ownership dreams. Credit history can be affected by several factors including missing payments and late payments. Take a look at these five tips to help you get on top of the credit issues that could be impacting your home loan application.
Topics: Bad Credit Home LOan, Bad credit, Comprehensive Credit Reporting, Home Loan Advice, Low Doc Home Loan, Australia Mortgage Broker, Home Loan Application
Earlier this month, the long-awaited Final Report of the Royal Commission into misconduct in the Banking, Superannuation, and Financial Services Industry was delivered, proposing changes – amongst other recommendations - into the way mortgage brokers are remunerated.
With over 59% of all home loans in Australia underwritten by mortgage brokers, the findings from Commissioner Hayne’s report would see a significant shake-up to the way borrowers access mortgage lending. In the midst of all the media hype around the report, Mortgage Express would like to remind its customers that the service we provide to you, our valued customers, has not changed.
Topics: Home Loan Advice, Australia Mortgage Broker, Royal Commission Report Australia, Broker Behind You
