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The valuation has to be one of the biggest hurdles when you’re building a home, as it can be done a number of ways – and it can come back to the lender instruction as to how it is done. I’ve heard of ‘Valuer General land value’ (you know, what you pay your rates based […]
The interesting thing about interest rate comparisons is there’s more to it than just plain percentages. Take a cheap interest rate with a large fee – for example. Lenders are savvy – they have huge marketing teams looking for whats just the offer to grab you – everyone wants a low interest rate – but […]
I just responded this exact question on a forum – and while the answer is simple: 1 Get a good economic interest rate and reasonable fees (if any) 2 put as much money into the loan (or offset account) as soon as you can 3 and leave it there!! It’s also really complex! The poster writes: “I was […]
I’ve spent a bit of time looking at affordability lately: How the bank works out what you can afford Making the most of your income for self employeds and I even wrote this post for Proadvisor website on the perilous impact of credit cards But at the end of the day – what the […]
Indulge me a little, I have a really compelling story. If you had bought this unassuming 4 bedroom western Sydney home in February 2010 when it was on the market you would have paid $420,000. Thats fact. If you had borrowed enough to cover the full purchase price, the stamp duty, legal fees and a […]
An interesting article out today says people are shying away from renovating their home because of being unsure how to finance it and bring it all together. (source: The Advisor https://www.theadviser.com.au/breaking-news/31430-refinancing-for-renos-too-difficult-survey?utm_source=The+Adviser&utm_campaign=The_Adviser_Bulletin04_02_2015&utm_medium=email) If this is you and you’re living in a tired old box you hate STOP! We’re here to help! Sure, its less straight forward than a […]
Buying property in your super fund is increasingly popular, and lets face it, most of us are jaded by the current investment options so for most Aussies it makes sense to at least look at buying property – bricks and mortar, we just understand it. I can’t argue with this, but I want to put a […]
If you listen to anyone real estate is all about location, location, location (and timing, but thats kinda quietly whispered behind because frankly it’s a minefield). If you asked me when is the perfect time to sell I would say never – but with a big asterix. I’ll start here, In 2010 I sold up and […]
We call it the three C’s of lending, the tests by which it is determined if you can borrow money, and if so – how much: Character Capacity Collateral Let’s look at Capacity. Online borrowing calculators will give you a very standard result as to what the bank might look at lending you – nothing […]
So, today I had two loans approved for two clients – both of whom didn’t think they could be approved, how chuffed do you think I feel?! But the point is, and I have a whole section on my blog on “you have almost no chance of being approved if you walk in the door […]
