Thanks to changes by APRA (The Australian Prudential Regulation Authority) the lenders have a responsibility to ensure you can afford the loan repayments as well as your living expenses. As such they may have to really dig into your personal finances before they can approve you for a loan and… Read more
Blog
If You Were Rejected For A Loan Just 12 Months Ago You May Be Accepted Now
Over the last 18 months or so, we were being told ‘no’ for a lot more home loan applicants than usual because the banks were forced to use a high ‘assessment rate’ on both new home loan lending and existing lending not being refinanced. When you apply for a loan,… Read more
The Best Resources for Real Estate Investing
Whether you are a real estate rookie or an old hand at investing, staying up to date on the latest trends can be tough. The market is constantly changing and monitoring its moves takes time and commitment. Fortunately, there is no shortage of resources to help you along the… Read more
June 2019 Reserve Bank Interest Rate Cut
June 2019 rate cut – Why did the Reserve Bank cut the cash rate? On 4th June 2019, the Reserve Bank announced the cash rate would be reduced by 0.25% p.a. to a record low 1.25%p.a. The basis of this decision was to support employment growth and to attempt to… Read more
Stamp Duty Exemption NSW – Are You Eligible?
Hornsby resident, Kylie asks “My partner and I are looking to get into the property market next year, and were wondering if we would be exempt from having to pay stamp duty? We’re first home buyers living in Hornsby NSW“ Great question Kylie, and one that’s certainly worth asking because… Read more
LVR Meaning – What Does LVR Mean and How is it Calculated?
Sunshine Coast resident, Danielle asks “I’m interested in applying for a home loan, and am somewhat confused by what LVR means? What does it mean, and how is it calculated?“ LVR essentially means loan to valuation ratio. Basically, it’s the loan amount divided by the value of the property. So,… Read more
What is Rentvesting?
Neutral Bay resident, Greg asks “I currently live on Sydney’s North Shore, and love the lifestyle but can’t afford property here. I’ve heard of the term rentvesting as an option. What is rentvesting and how does it work?“ Great question Greg. As property prices continue to rise, we’re seeing more… Read more
House and Land Package Loan Advice for Fast Approval
Brisbane residents, John and Chloe ask “My girlfriend and I are looking at various house and land package loans. What sort of advice could you give us to make sure we make the right decision and also to ensure we’re eligible and get approved quickly?“ We do a lot of… Read more
How To Get Approved For A Casual Employment Home Loan
Gold Coast resident, Jason asks “Can you get a home loan with a casual job? I’ve been told that after the GFC this is no longer possible. Is this true or are there lenders that accommodate casual employees?“ Getting a loan as a casual employee isn’t as straightforward as if… Read more
How Late Loan Repayments Can Affect Your Credit History & Credit Score
Forest Lake resident, Mark asks “If I’ve been late with a number of personal loan repayments, can this affect my credit rating later on?“ In the past, Australia has had a negative credit reporting system, and what this basically means is that on your credit report all that would be… Read more