As a mortgage broker, we’re often asked about how interest only loans might work in connection with investment property. Let’s take a look at how that might work for a mortgage in Australia. The Two Main Types of Mortgage In the Australian property market there are two...
There has been a lot of talk in the media lately about the possibility of interest rates going up, with some commentators and articles such as Broker News saying that a hike in interest rates would trigger a crash. If you’re an owner occupier or you’re...
As we enter a new financial year, many people decide it’s the perfect time to take a look at their finances. They re-evaluate where their money is going and what cuts they can make. However before anyone decides to make a change, they must first...
Last week we talked about the new regulations that are coming into effect this financial year for first home buyers. Given that it’s the new financial year, we thought we’d follow up last week’s blog post with a blog about what property investors can and...
If you’ve been following the news lately then you would have seen some articles about banks cracking down on interest only loans. An interest only loan is a mortgage that allows a borrower to only pay the interest on their loan for a period of time before...
We thought that we would blog this week about what to look for when you’re getting financial advice. When you get financial advice it’s really important that you have the right information. Your entire future is at stake and nobody wants to make the wrong...
When you don’t meet traditional lending criteria you may think that you don’t have a chance of getting a loan but that’s not the case at all. Just because you’re self employed or have started a new job doesn’t mean you won’t quality for finance....
This week the Sydney Morning Herald reported that Commonwealth Bank would be tightening their lending restrictions again. Up until now, home buyers have been able to take out interest only loans. On the surface they can look pretty good because you only need to pay the...
Earlier this week the federal budget came out, with there being a few different measures in place to help first home buyers and some to motivate existing home owners to downsize to free up larger properties for young families. If you haven’t caught up with...
Property is one of those hot topics that everyone is interested in. It doesn’t matter what stage of life you’re at, everyone’s talking about it. It all starts when you finish high school or leave home and suddenly you’re confronted with the possibility of paying...