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Tag Archives | Why you have almost no chance of walking into a branch and getting the right loan

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Getting a deposit together, your options

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.   […]

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What’s your property really worth?

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. […]

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Whats the fastest way to pay off your loan?

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 […]

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Borrowing capacity, the complete low down

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 […]

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Have you ever heard of a property being “Company title”?

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) […]

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Valuers are not the same!

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 […]

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