Who is involved in a property purchase?
Buying a property is more complex than most other purchases you’ll ever make in your life. Here are the different parties who may be involved in your home-buying process and how you can leverage their valuable experience and knowledge. Mortgage broker Brokers act as a liaison between you and the lender. They will find out […]
Home Loan Health Check
When was your last home loan health check? Circumstances can change, leaving your home loan less suitable than it was originally. A home loan health check can reveal if you’re paying too much. What’s involved? Your finance broker can do a full home loan health check for you either in person or over the phone. […]
Clawback – As a client how can you help?
Clawbacks can have a significant impact on mortgage brokers. If a borrower repays or refinances their loan within a certain period of time (typically within first 12 to 24 months), the lender may require the broker to repay some or all of the commission that they earned on the loan (dependent on time period). The […]
What happens when your fixed rate term ends
Fixed rate terms last for a set period of time that is prearranged between you and your lender. Fixed rate periods last between one and five years. When your fixed rate term ends, your loan will usually revert automatically to the standard variable interest rate unless you have provided instructions to refix your loan. As […]
Offset Account
What is an Offset Account? An offset account is a transaction account that is linked to a mortgage account. It reduces the amount of interest you pay on your loan. The balance of the offset account is subtracted from your loan balance, so you only pay interest on the difference. Here are some additional […]
Top Tips to Help Save You Money
Top Tips to Help Save You Money With the cost of living increasing daily, its important to ensure you are budgeting correctly and tracking your expenses accordingly. Here are Top 10 tips to help you save money: Create a budget: This is the first and most important step in saving money. Make a list of your […]
Capital Gains Tax
Capital Gains Tax What is Capitals Gains Tax? Capital Gains Tax (CGT) is tax that you are required to pay on any capital gain earned on the sale of an asset, such as a property, that you bought on or after 20 September 1985. In other words, it’s the profit that you make when your […]
Top 10 Tips when renovating your home
Top 10 Tips when renovating your home. When renovating your house, it’s essential to plan carefully to ensure a successful and stress free outcome. Here are the top 10 things to consider: Budget: Determine your budget and stick to it. Renovations can quickly become expensive, so it’s crucial to have a clear financial plan and […]
The 5 C’s of Credit
The 5 C’s of credit are a set of criteria used by lenders to evaluate the borrower’s eligibility for a loan. The 5 C’s are: Character: The borrower’s willingness and reliability in meeting financial obligations. Lenders may look at the borrower’s credit history, repayment history, previous loan defaults and other factors to assess their character. […]