Offset Accounts: Should you have one?
A common request from borrowers is that they ‘need’ an offset account. When asked to explain why, its amazing how many people say “my friend has one and they love it, so I thought I should have one too”. They suit most borrowers, but to know if one will suit you, lets first understand exactly …Read More
What is the real cost of your daily coffee?
Having the financial commitment of a mortgage really makes you think about the value of your money. It forces you to watch your dollars a lot closer and brings into question the opportunity cost of doing one thing over another. It is surprising to see the impact that small financial habits, like your morning coffee, …Read More
What is Pre-Approval?
For those getting ready to stride into the world of home ownership, the uncertainties of pre-approval can cast a shadow of doubt over an otherwise exciting time. When is it necessary? How long does it last? And what does it involve, exactly?
Pre-approval is a lender’s assessment of your likelihood of being approved for an suitable …Read More
Chicken or the Egg? Property or the Finance?
It’s easy to get carried away with the fun part of buying a property – looking at houses – but delaying the less compelling task of arranging finance will weaken your negotiating position on both the property and the loan.
Looking for a property to purchase is an exciting time. Choices regarding location, size, number of …Read More
Spring Clean Your Budget
Buying your dream home is one of the biggest and most exciting purchases you are ever likely to make. As house prices continue to grow, saving the necessary deposit is becoming harder and harder. You’d be surprised what a little Spring Clean can do to your savings over time.
Budgeting sucks, but neglecting to understand your outgoings …Read More
10 Tips When Buying An Investment Property
1. Have a clear goal
Understanding your objectives is key to finding the right investment property. The actual property itself is never the end goal when it comes to investment – it’s the financial element that you’re really concerned about.
2. Check your emotions at the door
This is not a home for you so there doesn’t need …Read More
Is Co-Ownership Right For You?
Buying through co-ownership is quickly becoming a popular strategy for those hoping to enter the property market but without the capacity to do it alone. Through pooling resources with a friend or family member you can increase your buying power and enter the market sooner.
There are a number of other benefits to entering the market …Read More
Seven Keys To Winning At Auction
The majority of Melbourne property is sold at auction. To be successful you will need to be armed with as much information as possible. The below sets out my 7 key steps that will put you in a strong position come auction day.
1. Bring In The Professionals
Property is most likely your biggest financial commitment you …Read More
How your interest rate affects your mortgage
The rate of interest you’ll pay on your mortgage depends on a combination of three key factors. These are the Reserve Bank of Australia’s (RBA) cash rate, your lender and the type of loan you have.
Reserve Bank of Australia (RBA)
The RBA meets monthly and they have the ability to adjust the cash rate in order to keep …Read More
What is Lenders Mortgage Insurance?
Should Lenders Mortgage Insurance (LMI) be seen as an additional hurdle to enter the market or as an opportunity to enter the market sooner?
First things first, lets outline exactly what LMI is. This is an insurance policy taken out by the banks that protects them should you be unable to repay your loan. If you are trying …Read More
