The amount you can borrow and the amount you should borrow are sometimes two very different things. Before you apply for a home loan, it makes sense to realistically assess your financial situation. Here’s how to do it. Understand your borrowing capacityGenerally speaking, your borrowing capacity – what you can borrow…
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Looking to enter the property market and worried about how you’re going to secure your first home loan? It’s time to start making your money work for you so you can land that loan. Qualifying for a home loan isn’t always an easy path. Aggressive interest rates, competition in the market…
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Breaking up is a difficult thing to do. On top of the emotional impact, there are practical ramifications as well on finances. And as an unintended consequences of COVID-19 where couples are getting locked up together longer than ever, there are a lot more break ups than ever before. When there’s…
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Late payments and loan defaults leave marks on a credit history that can complicate any effort to refinance or secure a loan in the future. Default can also lead to a home being repossessed and sold by the lender, so it’s very important to be aware how to avoid it. While…
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Self-employed borrowers come up against the challenge of not being able to simply present payslips and tax returns to back up their loan applications. But this need not stop you buying your dream home. Many lenders offer loans for self-employed borrowers who can’t hand over payslips and employment records. This means…
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In the post COVID era no one is in a rush to go back to office which means we’ll all be working from home a bit longer. Been thinking about transforming your home from ‘banal’ to ‘brilliant’, but lack the funds to support your makeover? Never fear, we’ve rounded up five…
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2020 has seen a serious slowdown in city property markets, but some rural real estate agents say they’re busier than ever. So, is this simply a result of the pandemic? Or a trend that’s set to keep growing after COVID-19 is gone? The fact is, most of us have spent a…
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The RBA’s September announcement that the interest rate remains unchanged comes as no surprise. After all, RBA Governor Philip Lowe told parliament last month that he expects the current record low 0.25% interest rate to stay in place for three years. Low rates have long-term implications, but in the meantime, let’s…
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Residential property is a fascinating investment asset – there are so many different types of properties and I must say, it can be very confusing to someone who is trying to learn about investing in properties! As an example, on the type of properties front we have houses, villa, duplex, townhouses,…
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The promise of “open banking” is big; a new, simpler way to share your personal financial data between banks, lenders and financial companies. It started on July 1. Here’s how it works and what it means to take back control of your data to get the best offers. Switching banks has…
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