It’s all too easy to rack up debt – credit cards, HECS, car loans – and may seem all too hard to pay it off. Debt can also have a big impact on how much money you can borrow for a home loan, so reducing your debt is critical when you…
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Refinancing your assets to renovate a property is a significant decision that will hopefully improve your standard of living or add substantial value to your property. Refinancing isn’t as straightforward as you might expect. The type of renovation proposed goes a long way to dictating the loan required. If the…
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One of the most common questions I get asked by our clients is “are non-bank lenders safe to go with?”. Based on this, there seem to be quite a lack of understanding/knowledge on non-bank lenders so I thought this article from Pepper covers quite a number of common myths including: 1….
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Paying off your education is no reason to put off buying property. You can remember it now: sitting in a chair at the back of the lecture theatre, chatting to your friends and ignoring the debt that each day at university was plunging you into. But now you’re older…
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Reducing the life of your loan isn’t difficult; there are many simple things you can do to cut years off your mortgage. Here are some tips that will help you be mortgage-free sooner than planned. Small extra repayments One of the most common ways to pay off your home loan quicker…
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When it comes to saving on your mortgage, some of you may not have to look further than your job. If yours is a profession that classifies you as a ‘low risk’ borrower in the eyes of lenders, then you may be entitled to special discounts. The lucky ones Accountants,…
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Lender’s mortgage insurance (LMI) is required in many instances when a loan is worth more than 80 per cent of a property’s purchase price, as well as in some other circumstances. In very basic terms, when a lender considers a loan to carry a high risk, LMI is likely payable. Here’s…
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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…
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I often get asked this question so I thought I would write something generic for everyone but what is most suitable for each will depend on everyone’s circumstances so please seek qualified professionals for tailored advice. Before we jump in let’s understand what these two terms mean: Principal & Interest (P&I)…
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