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…the place where we pool our thoughts on all things wealth-related
Lender’s mortgage insurance (LMI) is required in many instances when a loan is worth more than 80 percent of a property’s purchase price, as well as in some other circumstances. In very basic terms, when a lender considers a loan to carry a high risk, LMI is likely payable. Here’s how you can avoid paying…
When purchasing an investment property, there are a number of factors that could increase or reduce your potential return on investment. In this case, it’s not just location, location, location. When considering a property for investment purposes, the most important question to ask is ‘will be attractive to tenants?’. But how do you know what…
Seeped in cultural and historical significance, it’s understandable that there are restrictions when renovating a heritage listed home. While that’s not to say that you can’t make any changes, a little more legwork and creativity is often required. Understand what you’re doing Working on a heritage listed property comes down to knowing the implications of…
There are different types of business loans to suit different stages of a business lifecycle and different business needs, and selecting the right one can speed up the application process and minimise costs. Finance for a start-up For a startup company with no trading business or cash flow, it can be quite difficult to secure…
Reducing the life of your loan isn’t difficult; there are many simple things you can do to cut years off your mortgage. Here are some tips that will help you be mortgage-free sooner than planned. Small extra repayments One of the most obvious ways to pay off your home loan quicker is to make extra…
No one likes paperwork; however, providing your broker with the right documentation will save you time and money. What information will your broker ask you to provide? When you ask to enlist the services of a broker, they will probably ask you for the following documentation: Identification, including photo ID such as driver license Income…
Paying off your education is no reason to put off buying property. You can remember it now: sitting in a chair at the back of the lecture theatre, chatting to your friends and ignoring the debt that each day at university was plunging you into. But now you’re older and wiser, and reality has set…
In an attempt to curb the high competition of the Australian housing market that locked out many would-be first home buyers, the Australian Prudential Regulation Authority (APRA) in late 2014 signaled its intention to keep a close eye on a suite of concerns, including the levels of residential lending to investors. APRA’s communications at this…
From time to time, a business needs a cash injection. With so many lenders offering a dizzying array of products, it can be difficult to know what to choose. There are plenty of different types of business finance, but before diving in and applying, it’s important to understand your requirements first, so that a loan…
Knowing what a property is worth is central to avoid paying too much for it. Set a benchmark Comparing nearby properties that have sold recently is the best way to assess an acceptable price for the property you are looking at and provides a valuable bargaining tool when you are negotiating with a seller or…
