Tips to Lower Your Mortgage: Redraw Explained
During your home loan research, you may have come across a home loan that offers a redraw facility. It’s one of the less glamorous home loan features, however this option deserves a second look. Here’s why: The redraw facility explained If you have made additional repayments to reduce your variable rate home loan balance over […]
Your Guide to Investment Property Loans
When searching for an investment property loan, there are certain things to look out for as they tend to be structured a little differently to standard home loans. Here we look at the main differences, the most popular loan types, and how to get the best mortgage for your situation Interest-only, fixed, variable, offset – […]
Confused about Home Loan Pre-Approval? 4 Key Steps
Ready to buy a property? For most people, this will mean getting a loan, an important and efficient first step in this process is obtaining pre-approval. If you have pre-approval, vendors and agents know that you are serious about buying. Securing pre-approval will allow you to house hunt with confidence. Pre-approval, also known as conditional […]
Over 65? Unlock Your Home’s Equity with a Reverse Mortgage
As part of the 2018 Budget, the federal government recently announced a scheme allowing homeowners over the age of 65 access to a reverse mortgage style loan worth up to $11,799 per year for the rest of their lives. Initially, the scheme existed solely for part-pensioners, now anyone over the retirement age can access equity in […]
Investment Savings: Residential Policy for 3 Units & 1 Title
For investors wanting to develop three units on one property title, most lenders will allow a maximum of two units under their residential policy before a project is classed as ‘commercial’. When a project is referred to a lender’s commercial team, the fee and loan term structure is very different, involving higher costs both up-front […]