We live in a golden age of lending. Some say it’s really tough to get into the market but I say think again. Never been easier. Why? Your on-time rent is now your key that unlocks your finance. Assuming all other financial boxes check out of course like income, clean …
I get the scenario repeated time and time again… singles, couples, families encumber their cashflow significantly with a shiny new runabout that serves more the ego and the lust than the function, and THEN see what their options are for a home loan. Have a look at a couple scenarios: …
One of my clients recently came to me after talking with another broker, who in my opinion set the loan up in the broker’s interest and not the clients. Advising the client to sink all of his 120k deposit into his first home, simply to avoid paying mortgage insurance (see my …
For you to qualify for finance you must satisfy the bank’s lending criteria. Income, deposit, rental history, credit history, the list goes on and on. If you are fortunate to have a BC (borrowing capacity) for a new home and land package, your budget MAY NOT represent what you pictured …
Being self employed can be great. You are your own boss, you work hard, you get rewarded with what you deserve (hopefully!). You can deduct everything and the kitchen sink from your earnings and bring your tax bill right down. HOWEVER, when it comes time to borrow money for an investment, …
When you apply for finance, whether a credit card, personal loan or more importantly a mortgage, your credit file is the first thing that gets amended, looked at and carefully scrutinized, forming what is ultimately your ‘credit score’ which determines the likelihood of that institution doing business with you. This …
This broker will always recommend taking advantage of all the government throws at you to get into the property market for the first time. For example in QLD & NSW you get 15k for a brand new home, in WA it’s 10k for the same. You also save on stamp …
Of late I have had quite a few mature age clients, ranging from late 50’s to early 70’s. These folks have had a mixture of mortgage requirements, some wanting to get onto a lower rate and some ready to invest for the very first time (better late than never!). All …
Firstly what is cross securing? This is the act of using a collective ‘pool’ of equity spread across 2 or more properties to secure mortgages. There is no clear and defined line of which mortgage is secured by which property, and is a very lazy way of loan structuring, mostly …
Of course I am talking about interest rates, what else? In this golden era of historically low rates, we are all getting a bit used to things and my clients don’t settle for anything but a rate with a ‘4’ in front of it these days! But does rate size …
