Investment

How Do I Get a Lower Interest Rate On My Mortgage?

Property market update

One of the most common questions we get is; how do I get a lower interest rate on my mortgage?

In this video, Liz Zaki will walk you through the 6 factors that help answer this question. There are 6 factors that govern how easy it is for you to get a lower interest rate on your mortgage. They all apply equally.

1 – Loan Purpose

Is the mortgage or home loan in question used for your primary place of residence? Or is it used for an investment property?

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7 Reasons To Use a Mortgage Broker

Checklist

The mortgage market in Australia can be very complicated. With that in mind, here are the top 7 reasons to use a mortgage broker next time you want to find a new home loan.

Most mortgage brokers have access to a huge range of lenders. They should be able to provide you with a huge choice of rates and mortgage options. With partnerships in a vast array of lending institutions, including banks, credit unions, trusts, national and regional lenders, and non-traditional lenders, a good broker will be able to help design the perfect mortgage for you.

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10 Finance Tips For Property Investors

SMSF

More and more Australians are building wealth through the property. According to the Australian Taxation Office (ATO), there are over 1.7 million property investors in Australia. Just over 25% of these investors own more than one investment property.

The largest group of property investors are not high income earners as many may assume. The vast majority fall into the $30,000 to $75,000 p.a. income bracket.

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Home Loan Borrowers To Receive Borrowing Capacity Boost

Couple Smiling

Borrowers are set to receive a boost to their borrowing capacity in the order of $80,000 to $100,000 thanks to a combination of changes to lending standards and interest rate cuts, new modelling shows.

Under the proposed relaxation of loan serviceability rules flagged by the Australian Prudential Regulation Authority (APRA) last week, borrowers will no longer be assessed to see if they can repay their loans against an interest rate of 7.25%.

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Quick Ways To Save A Lot Of Money

Save a lot of money

Do you want some quick ways to save a lot of money?

How often do you check your accounts and credit card statements?

Do you re-assess your expenses regularly?

Tax time is always a good time of year to get your finances sorted as it’s when we all go through the past year’s expenses. If you’re looking to buy a new property, or just looking at saving some dollars throughout the year, it is a good idea to go through your current finances and expenses to see where you can save a few thousand dollars a year.

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How To Negotiate With Real Estate Agents

Real Estate Agents

When you deal with property transactions, you will be dealing with Real Estate Agents. This article will show you how to make real estate transaction go as smooth as possible.

The first thing to note is that the Real Estate Agent does not represent you, the Buyer – they represent the Vendor. It is in their best interest to ensure the Vendor gets the highest price possible because:
– Agents are usually paid a commission on the sale of the property
– Extracting the highest price from the Buyer, allows the Agent to attract more customers in future

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Home Loan Market Update May 2019

Negotiation Skills

April has started, and the RBA’s official cash rate is still sitting at 1.50%. The lowest it has ever been.

This article will walk you through what the team at OneSite are currently observing in the Home Loan and general Credit Markets. There are currently a number of factors effecting the credit market:
– General economic variables
– Property market outlook
– Regulator changes

With this in mind, the article will show you the current lender movements in the market.

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How Much Can I Borrow?

Couple in garden looking at house

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.

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Home Loan Market Update – Feb 2019

Where will the market go next?

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.

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How Does AfterPay and ZipPay Affect Your Home Loan Application?

Home Loans

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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