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One of the key criteria to buying a home is to have a deposit & enough money to cover your stamp duty and legal fees, if you already own a property hopefully there’s enough equity to draw upon to cover your new purchase, or, perhaps you’re considering selling to release the equity that way. […]
A question that’s coming up a lot lately – if you are a first home buyer and you have a personal loan (or another debt) should you pay that off first or save for a deposit first? Lets look at this: Conventional wisdom says avoid paying interest and get rid of that loan first […]
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 […]
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 […]
Building a new home – what you pay along the way…. Building is an exciting process! It’s easy to get lost in worrying about the process but don’t worry – let’s see what we can do to make this a little easier… Here are some of the things to allow for: When […]
Sometimes its just easy working with someone who knows your local area – a big sigh of relief! What a funny location Penrith is, such a diverse area with so many different people and properties! Its such a very big region and if you’re house hunting you already know that the prices are very different […]
Upfront I will say – rarely does it go so much to plan that our clients are completely unaware any issues at all, but that’s a post for another day on banks and big business mentality…. However, the art of mortgage broking is such that the client knows little of the drama and effort behind […]
Saving your first deposit The path to home ownership starts with saving for your first home deposit. For many, it requires a new attitude to financial responsibility and learning some new financial techniques to make your savings grow. Here’s some tips for making that lump sum grow quicker. Work out a budget Managing your money […]
