The days of questioning if a mortgage broker was recommending you a loan because it was the best for you are over, thanks to Best Interests Duty Law (BID). From 1 January 2021, Best Interests Duty laws came into effect for mortgage brokers and financial advisers....
Your credit score, may also referred to as Equifax Score, is used by some of your potential lender to determine the risk of offering a loan to you. This is an automated rating system and based on your credit file as well as the information...
Your living expenses play an important part in your broker, or the bank assess your home loan application. To work out your Borrowing Capacity, your living expenses will be a key factor; how much can you borrow, or even if you can afford one. So, what...
The state has launched a new home-buyer fund, under which it will pay 25 per cent of the property purchase price if eligible borrowers have a 5 per cent deposit. The Victorian government has introduced the $500 million Victorian Homebuyer Fund (VHF), which is expected to...
Property auctions can quickly descend into fast-paced shootouts fuelled by adrenalin and ego as buyers fight for the front door keys. While it might seem daunting, our tips for buying a house at auction could help you be prepared to improve your chances of success. 1....
Saving for a home deposit is no mean feat. But there’s a way to make it more achievable, with a little help from those closest to you. What is a Family Security Guarantee? If you’re finding it tricky to reach a deposit of 20% or higher on...
There’s more to buying a house than meets the eye. It can help to tally up all the costs of home-buying before you start. First home buyers can sometimes get a shock when they add up all the costs and discover that buying a house can...
If you’re a first home buyer, you may be eligible to withdraw voluntary super contributions you’ve made to put toward a home deposit. Through the First Home Super Saver Scheme (FHSSS), first-home buyers may be able to use Australia’s superannuation system as a tax-effective way to...
Offset accounts and redraw facilities are both common home loan features, but do you know the difference between them? Many home loans these days come with either an offset account, a redraw facility or both. But how do they work, and which purposes might each one be...
When it comes to securing a mortgage, your bank statements are a vital piece of information. They give lenders a snapshot of your spending habits, provide proof of income, and help establish that you’re a responsible borrower. So chances are you’ll need your bank statements for...