Most borrowers often ask, how much can I borrow? This question can be answered by looking how the Banks calculate your borrowing capacity.
Every bank has their own calculator to work out your borrowing capacity. Having said that, the information that gets entered into the different calculators is largely the same. The video in this article will discuss the criteria the banks use to calculate your borrowing capacity.
The factors involved in calculating your borrowing capacity boil down to your income, your living expenses and your current liabilities.Read More
Genuine Savings are the funds you saved yourself over a period of time. If you are considering entering the property market, you will need to be prepared to have a deposit of at least 5% of the property value in order to qualify for a home loan. This rises to at least 10% of the property value if you’re looking for an investment loan.
Having said the above, having the 5% deposit does not automatically qualify you for a home loan. Home loan applicants are required to have genuine savings, as well as the initial deposit for the loan.Read More
Another month has gone by and the RBA’s official cash rate is still sitting at 1.50%, the lowest it has ever been. The prospect of the cash rate being cut, along with stronger economic data out of other world markets have led to the Australian Dollar trading at or near 3 year lows. This will have implications for Lender’s debt financing, with a large portion of that sourced in foreign currencies and thus needing to be hedged.
With this in mind some Lenders have signalled an increase to their home loan rates. This article will run you through the latest news on the home loan as at February 2019.Read More
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.Read More
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.Read More
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!Read More
Norman is one of the most professional brokers I have ever dealt with. He has in-depth knowledge of all the steps and procedures.
He helped in... read more -
When I refinanced from State Custodian to CBA last year with Andi's help, I got very competitive rates. Andi was willing to travel more than... read more -
Liz has been amazing and so supportive of my husband and I on our journey to home ownership. We first made contact with Liz about... read more -
Liz helped us from start to finish with our home loan and we cannot thank her enough! Liz supported and educated us along the way... read more -
We are very pleased with the service provided by Norman from OneSite Finance. Norman made our first home buying process a breeze through briefing us... read more -
Liz is an amazing mortgage broker and seems to be working 24/7 as she answers emails and sms very quickly at all times. She has... read more -
My partner, Daniel and I couldn't be happier with the exceptional service we received from our our broker, Liz Zaki. Liz went above and beyond... read more -
Liz is one of the most professional and results-driven financial service provider I've ever worked with.
My partner and I applied for a new home loan... read more -
Such a great experience! From the very first meeting Liz clearly communicated with us and gave us excellent advice. She is very quick to respond... read more -
Norman was extremely professional and had a through understanding of all of the procedures involved. I love how he went above and beyond to help... read more -
We can say confidently that One Site is The Best Mortgage Finance Company, and Liz is the Best Mortgage Broker! We have known Liz since... read more -
I've worked professionally with Liz from OneSite Finance in the past, and she was always reliable and attentive. I was impressed with her manner and... read more -
Liz has helped me through one mortgage and 2-3 remortgages/restructures and I cannot speak more highly of her. She has integrity, perseverance (negotiates hard!), and... read more -
Liz is an amazing Mortgage Broker.
5 stars doesn't do justice to the service that Liz and her team have provided.
Through a challenging construction... read more -
My wife and I have enlisted Liz Zaki to co-ordinate multiple home loans over the last 12 years. We have always been impressed with Liz's... read more -