How is My Borrowing Capacity Worked Out?
Up until recently, it was relatively easy to apply for a home loan. As long as you could show that you have a stable job and manageable debt, then your application had a good chance of being approved. However, things have changed considerably over te past two years. Despite interest rates remaining low, lenders have […]
Why it Pays to Use a Mortgage Broker in a Competitive Market
In such a competitive market, it pays to use a mortgage broker who will spend the time to find you the most competitive loan product as well as interest rate. With so many loan products on offer, it’s sometimes hard to know which product will benefit you most. We recently assisted a client who had […]
Restrictions on Interest Only Loans for Investors – How Does This Affect You?
Investors are facing a tough time with lenders at the moment as investment loans are becoming more restricted. In March, the Australian Prudential Regulation Authority (APRA) wrote to lenders, instructing them to keep new interest-only loans to just 30 per cent of their total home loans portfolio. This is to limit the volume of higher […]
Positive Credit Reporting and How it Can Affect You
Positive Credit Reporting, also known as Comprehensive Credit Reporting, is the method Australian lenders are currently using to assess a potential borrower’s credit history when processing a loan application. Lenders share this credit data with credit bureaus, who make this data available to other potential lenders to help those lenders determine the risk of lending […]
Is Airbnb The Right Choice for My Investment Property?
Short term accommodation innovations like Airbnb have certainly changed the way we plan and book a holiday. They provide a compelling and often cost-effective alternative to hotels in many holiday hot spots. If you’re thinking of buying an investment property to rent on Airbnb, it is wise to do your research before you jump in. […]