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Here are some great articles that can assist you throughout the buying process and after. 

House on coins

Existing Customers Pay More For Their Mortgages

Dec 13, 2018

The ACCC found that existing customers pay more for their home loans. Quite a bit more in fact.

As at June 30, 2018, existing customers were paying interest rates that on average were 32 basis points higher than new customers. This is equal to more than one typical Reserve Bank rate increase.

The ACCC found a borrower with an average sized mortgage could save around $850 a year by getting the same rate as a new customer. This figure is quoted on an Australia wide basis. For a typical Sydney mortgage, the savings could add up to tens of thousands of dollars over the life of the loan.

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Home Loans

How Does AfterPay and ZipPay Affect Your Home Loan Application?

Dec 6, 2018

Did you know that AfterPay and ZipPay can affect your home loan application? Banks have now applied stricter requirements on lending. Customers applying for home loans are required to disclose what they owe on their AfterPay and ZipPay accounts. This is now part of most banks’ serviceability requirements.

In essence, AfterPay and ZipPay are digital credit platforms that give consumers a temporary line of credit.

With the above in mind, if you use these platforms, it is very important to make AfterPay and ZipPay repayments in a timely manner. Additionally, you need to to avoid any fees and charges for late payments. Late or missed payments can affect your home loan application process.

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Unlocking the Value of your property

Increasing The Value Of Your Property

Oct 18, 2018

Most home owners would like to increase the value of their property at some point in time. Whether you are thinking about selling or increasing the equity in your home; Corissa from Refurb2Invest can help to increase the value of your property.

Refurb2Invest is a team of renovation consultants who have successfully helped more than 130 families across Sydney to increase the value of their property. Most importantly, their main aim is to get you higher profits.

The first 20 OneSite Finance Clients to contact Refurb2Invest will receive a FREE Property Audit, valued at $660!

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Credit Report

How Does Your Credit Report Affect Your Finances?

Oct 17, 2018

Before a Lender can grant you a loan (or sell you a product on credit), they must ensure that you have the ability to pay the loan back at a later date. If you do not have the capacity to pay the loan back, the credit provider will not be able to approve the loan you are requesting.

Your credit report provides lenders a summary of your credit history. How good you are as a borrower. It helps them assess the risk of lending to you.

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Couple with bills and laptop indoors

Home Loan Market Update – September 2018

Sep 24, 2018

The investment and home loan market is in a state of flux. This article will run you through the latest news on the home loan as at September 2018.

Over the last couple of weeks, there have been a number of announcements that lenders will be increasing their home loan rates without waiting for the Reserve Bank of Australia (RBA).

This is due to the fact that the RBA’s official cash rate is still sitting at 1.50%. Please keep in mind, this is the lowest it has ever been.

The rate increases are mainly on variable rate home loans at this stage. However, we expect to see an increase in all mortgage rates in general as Lender’s cost of funding is starting to rise on the back of movements in the global economy.

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Home Loans

Changes To Interest Only Term Extensions

Sep 20, 2018

Changes to lending regulations are forcing banks to change the way they assess requests to switch or extend Interest Only repayment periods. These changes effect customers who want to extend Interest Only repayment periods, as well as those wanting to switch from Principal and Interest to Interest Only repayments.

In the past, CBA customers would simply call the bank and request to switch to Interest Only repayments over the phone. Customers were also able to change their existing loan from P&I to IO over the phone. Other banks applied a very similar process when customers requested to switch to or extend Interest Only terms.

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"Liz Zaki has been very professional in managing our loan. She provides exceptional services and advices. She reviews our loan regularly and always try her best to negotiate a better rate for us. I highly recommend OneSite Finance to my friends without doubt."

Cheny L, Hornsby, NSW   

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