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May 2023
Key risks for buyers when purchasing a property in an Auction
Auctions are a great approach for sellers to fully maximize their selling price for their property. The competitive nature of an auction can lead to people to bid higher then they initially wanted to, which results in a higher selling price. This is seen to be great for sellers, the buyers need to be careful as there are risks involved when purchasing property through an...
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May 2023Going for an auction? Here are top 5 things you must do before you bid
The purchase of property in auctions is a great way to buy a property, but it comes with its own set of challenges and risks. Here are some of the key things that buyers need to be mindful and careful of when buying property in auction in Australia. Do your research: Before even taking the step to bid on the property, make sure to have...
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May 2023What finance options are available for Businesses?
Business finance in the Australian market refers to the various financial products and services that are available to businesses in Australia to help them manage their cash flow, invest in growth, and manage risk. Some of the most common types of business finance available in the Australian market include: Business loans: These are loans that businesses can use to invest in growth, purchase equipment or...
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May 2023(Loan to Value ratio) LVR and its impact on the interest rate
Loan-to-value ratio (LVR) is a measure of the amount of a loan compared to the value of the property that it is being used to purchase or refinance. It is calculated by dividing the loan amount by the value of the property. For example, if you are borrowing $500,000 against a property valued at $600,000, the LVR would be 80% (500,000 / 600,000). Banks use...
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May 2023What is a low doc loan?
A low doc loan, also known as a low documentation loan, is a type of loan that is specially designed for self-employed individuals or small business owners who may be challenged in providing the traditional documentation, such as tax returns to prove their income. Instead of requiring a full set of financial documents, low doc loans typically only require a borrower to provide proof of...
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Apr 2023Lawyer vs Conveyancer – Who should you go for and what is the difference?
When it comes to property settlement, a buyer can choose between using a lawyer or a conveyancer. Both professionals can assist with the legal and administrative tasks involved in property settlement, but they have different qualifications and areas of expertise. A lawyer is a qualified legal professional who can provide advice on legal issues related to the purchase, such as contract review and drafting, and...
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Apr 2023Top 10 tips for Self Employed applicants looking for a loan
Here are some key tips for self-employed individuals looking to apply for a home loan: Gather your financial documentation: Self-employed individuals will need to provide more financial documentation than salaried employees. This may include tax returns, profit and loss statements, and a balance sheet. Show a consistent income: Lenders will want to see that you have a consistent income over time. Self-employed individuals should be...
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Apr 2023How to pay your home loan quicker?
Paying off a home loan quickly can help you save money on interest and become mortgage-free sooner. Here are a few strategies that can help you pay off your home loan quicker: Make extra payments: Making extra payments towards your home loan can help you pay off the loan sooner. This could be done by increasing your regular payments, making lump sum payments, or by...
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Apr 2023Good debt vs Bad debt
Good debt and bad debt refer to the characteristics of different types of debt and how they impact an individual’s financial situation. Good debt is debt that is considered to be beneficial to the borrower in the long term. This type of debt is typically used to make investments or make purchases that will generate income or appreciate in value over time. Examples of good...
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Apr 2023How to improve your credit score in Australia?
There are several steps you can take to improve your credit score in Australia: Check your credit report: Make sure that all the information on your credit report is accurate. Dispute any errors with the credit reporting agency. Pay bills on time: Late payments can have a significant negative impact on your credit score. Be sure to pay all bills on time. Limit new credit...
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Apr 2023Holding cost of a property
For the new entrants in the property, ongoing cost for owning their own home or an investment property is always a concern. Whilst mortgage is generally the biggest cost element in most cases, there are other holding costs one needs to keep in mind during the planning process. The holding cost of a residential property in Australia can vary depending on several factors, including the...
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Mar 2023Apartments, Townhouses and Houses
When you are new in the property market, the choice between investing in apartments, townhouses, and houses can be very confusing. In the Australian real estate market the preference will depend on a variety of factors, including personal taste, budget, and investment goals. Apartments are typically more affordable than houses, and they often require less maintenance and upkeep. They also tend to have lower vacancy...
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Mar 2023Land Subdivision
Subdividing your home to build another townhouse can be a complex process that involves several steps. If you haven’t done it before and are starting new here is a general overview of the process: Research local zoning laws and regulations: Before proceeding with the process, it’s important to research local zoning laws and regulations to ensure that the property is zoned for the type of...
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Mar 2023Lenders Mortgage Insurance
Lenders Mortgage Insurance (LMI) is an insurance policy that protects the lender in case the borrower defaults on their loan. In Australia, you may have to pay LMI if you are borrowing more than 80% of the property value or if you have a poor credit score. Here are a few ways to save on LMI: Make a larger down payment: One of the easiest...
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Mar 2023NDIS
Special Disability Accommodation (SDA) properties are specifically designed and built to meet the needs of people with disabilities, and are funded by the National Disability Insurance Scheme (NDIS) in Australia. Investment in NDIS SDA properties can have both pros and cons, including: Pros: High demand: There is a growing demand for SDA properties as more people with disabilities become eligible for NDIS funding. This...
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Feb 2023Mutilender strategy
Most seasoned property investors are known for having multiple lenders for their property portfolio. There are a few benefits to not having all the loans with the same lender, which include: Competitive interest rates: By shopping around for a new lender each time you get a property, you may be able to secure a better interest rate than if you stick with the same lender....
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Feb 2023Top 5 things to keep in mind when applying for a loan pre-approval
There are several key points associated with pre-approvals, including the following: Credit score impact: Applying for pre-approval can result in a hard inquiry on your credit report, which can temporarily lower your credit score. Rate lock expiration: Pre-approval often comes with a rate lock, which guarantees a certain interest rate for a specific period of time. If the loan does not close within that time...
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Feb 2023Commercial Property
Investing in commercial real estate in Australia can be a great way to diversify your investment portfolio and potentially earn a steady income through rental income and capital appreciation. However, it’s important to be aware of the opportunities and challenges that come with investing in commercial property. Opportunities Steady rental income: Commercial properties, such as office buildings, retail centers and industrial properties, are typically leased...
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Jan 2023Buying land off the plan
Buying land off the plan with a long settlement date can be a great way to secure a property at today’s prices, but it’s important to weigh the pros and cons before making a decision. Pros: Price advantage: One of the biggest advantages of buying land off the plan is that you can secure a property at today’s prices, even if the land may not...
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Jan 2023Interest Only Home Loans
Interest-only home loans have become increasingly popular in Australia in recent years, but is this type of loan right for you? In this blog post, we will explore the pros and cons of interest-only home loans to help you make an informed decision. Pros: Lower Repayments: Interest-only home loans have lower repayments than principal and interest loans. This can make it easier to afford a...
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