You’re filing in your home loan application (congrats, BTW), but the request for genuine and non-genuine savings has you stumped. Since when were savings not real savings? When filling out your home loan application, one of the most crucial aspects that your provider will request will be proof of the amount of money you have… Read more »
Yesterday Westpac hiked its fixed rate home loan for the second time in less than two weeks, and today the CBA followed suit. Which begs the question: Is it time for a fixed-rate home loan? Three-year fixed-rate mortgages are tied to market rates of that term because banks borrow or hedge interest rate risk at… Read more »
There are benefits for home owners during a property boom. One is that the equity in your property rises, adding to your wealth. While the value of a loan basically stays the same, or reduces if you’re on a principle and interest loan, a rising property market means the share you own in your place… Read more »
Receiving “conditional” loan approval from your lender gives you the confidence to start house hunting in earnest, but it’s still not a done deal. Finding the perfect property takes time, and so does securing the perfect home loan. You can’t rush these things. Don’t wait until you’re standing on the nature strip, trying to outbid… Read more »
For the thousands of Aussies looking for a new home loan, there has never been more choice. But with all the different types of home loans available, how can you determine which one best suits your financial situation? When you take out a home loan, most providers will give you a choice between a fixed,… Read more »
Whether you’re guilty of applying for too many loans or simply taking on more than you can handle, it’s all too easy to make some fundamental home loan mistakes. Getting a home loan can be easy. But it can also be easy to muck it up by making rookie mistakes. Here are some of the… Read more »
The home loan application process can be long and complicated, especially for first home buyers. Fortunately, there are ways to make it easier. With so many steps involved, people often don’t know where to start when applying for a mortgage. In order to help streamline the process, here are four things you should keep in… Read more »
Bamboozled by all the mortgage jargon in your home loan contract? Fear not. We’ve got you sorted with our A-Z of mortgage-speak. Is there anything worse than trying to get your finances sorted but stumbling over all the mortgage jargon that flows effortlessly off the lender’s tongue? Chattels, what now? And what on earth is… Read more »
As property prices rise, don’t forget to negotiate your interest rate on your home loan. For years I’ve been encouraging Aussies with a home loan to ring your bank and negotiate your interest rate. So many wait for the RBA to cut official interest rates to save on their home loan when the reality is… Read more »
Given the intricacies and possibilities around home loans, the so-called comparison rate may not always be helpful. As a tool, it can be too blunt for the job. We trust ourselves all the time with the comparisons we make in everyday life between items as varied as shoes, cars and even people. So, we’d expect… Read more »
