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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. […]
I’ve written about this recently for Proadviser, and I thought I would add to the conversation over here. Property valuations are one of the trickiest aspects of my job, in that they can cause the most grief. A poor valuation can ‘kill a deal’ meaning you can’t do what you wanted to do. […]
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 […]
When you are self employed you enjoy the freedom of working your own hours (often far more and at the strangest time of the day), directing your own life and creating an income and an asset at the same time. You’re also savvy and you use the resources available to you to your best advantage […]
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 […]
Another one to file under you have almost no chance of getting approved when you walk in the door of your local bank! I have a lovely gent buying a new property right now which has an unusual designation, instead of standard torrens title (most homes) or strata title (most townhouses or units etc) […]
I have a file on my desk right now, and it’s a pretty typical file – straight up and down mum and dad with a couple of kids. She’s on maternity leave so they have a little bit of help in family tax benefit. He’s putting in some long hours to keep the family […]
I could write a whole series on how you have almost no chance of getting the right loan by walking in the door of your local bank… in fact I think I will file this as part of a series – and this one would come under: “How you have almost no chance of getting […]
