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…the place where we pool our thoughts on all things wealth-related
The idea of a cooling off period is to give buyers time to change their mind about a purchase. Whether it’s backing out of a phone plan, insurance policy or signed house contract, the option to cancel is a safeguard designed to protect buyers. Why then when it comes to buying a home, is the…
Your ability to prove you have a stable employment record with regular income is one of many ways you can help speed up your home loan application. As lenders continue to drill deeper into the details of an applicant’s financial capacity, you will need to show evidence of all income sources as well as documentation…
Mortgage calculators can help you crunch the numbers on a home loan as a first step toward planning to buy a property. Use them as a starting point and a handy way to get some good estimates before you seek more detailed, personalised advice from your mortgage broker. The function of a mortgage calculator is…
Why would you buy a dilapidated property in need of renovation? The old saying ‘buy the worst house in the best street’ is an attractive option for many home buyers. Seen as an entry point to the best suburbs or a way to maximise profit on an investment, it’s tempting to take the leap and…
You’ve decided to buy a new home, and it’s time to line up your finances so you can go ahead and purchase your new property, but how long will it take to secure home loan approval and is it a complicated process? Putting together a formal loan application is the first step. Home loans are…
Pay down your home loan faster by rounding up your repayments to the nearest $10 or $100. Chances are you won’t even notice the difference to your hip pocket, yet rounding-up can deliver noticeable savings over the lifetime of the loan. Click here to check out the below hypothetical example on our extra repayment calculator. You’ve…
It’s the crystal ball everyone wishes for. Which suburb is the next hot property location? If you’re buying an investment property and you’re looking for a short or even medium term return on investment, choosing the right suburb can make all the difference to your profit. Usually, you’ll already have some idea of which suburbs…
That’s the real decision you could be making when it comes time to choosing the payback term of a home loan of $500,000. Caught up in the excitement of purchasing a new home, few of us give much thought to whether the loan term should be 25 or 30 years. After all, it’s easy to…
The idea of co-owning a property with friends or family is a tempting option for Australians struggling to find a way into the market. But before you pop the champagne and celebrate your property purchase with a group hug, let’s look at the good, and the bad, of co-ownership. Here’s the good news. Co-ownership can…
An offset account can provide huge savings over the life of a home loan. Every cent of your money can work to reduce your loan because the balance of your offset is deducted from the loan’s value when interest is calculated. Let’s say you have a $500,000 home loan and $30,000 in a full offset…
