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Posts Tagged ‘Loan Structure’

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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Do You Have Genuine Savings?

Piggy bank next to house

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. 

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Home Loan Special Offers – August 2018

Family standing outside home

Lenders are constantly adding new products or features to their existing loan products to entice customers and build their market share in different niches. This article will run you through the different specials that are available on the market as at August 2018.

Lenders are currently trying to transition Borrowers towards Principle and Interest Loans. And with the property market cooling over the winter months, there are a number of new lending restrictions to boot.

There are number of offers aimed at different segments of the market from First Home Buyers to Investors with both variable and fixed rate options to choose from. For customers looking to refinance, please be aware of the newer, more onerous lending criteria being applied to new loans. Your lending capacity may have been greatly affected since the last time you sought finance.

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Home Loan Special Offers – June 2018

Property market update

The home loan market is always evolving. Lenders are constantly adding new products to entice customers and build their market share in different niches. This blog post will run you through the different specials that are currently available on the market.

Lenders are currently trying to transition Borrowers towards Principle and Interest Loans.

With that in mind, there are number of offers aimed at different segments of the market from First Home Buyers to Sophisticated Investors with both variable and fixed rate options to choose from.

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The Family Factor: Should You Buy Property With a Loved One?

Family walking together in park

Purchasing a property with a loved one can be a great way to enter to the property market, but taking on such a large financial responsibility with someone else does come with risks.

This article will discuss some of the pros and cons you need to consider before you both sign your names on the purchase contract.

On the one hand, buying with another person gives you more options when you’re finding a property. As the old saying goes, 2 hands are better than one. On the other hand, life happens. You are effectively signing up for the loved one’s portion of the debt if they can’t pay it.

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Home Loan Lender Specials – March 2018

Home loan specials

The home loan market is always evolving. Lenders are constantly adding new products to entice customers and build their market share in different niches. This blog post will run you through the different specials that are currently available on the market.

Lenders are currently trying to grow their share of owner occupied Loans.

With that in mind, there are number of offers aimed at First Home Buyers and Owner Occupiers to entice them away from their existing lenders.

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Home Loan Post Settlement Tips

OneSite Finance - Mortgage Heros

Here are 5 simple tips to help get you set up once your loan settles.

1. Contact your Mortgage Broker prior to the expiry of any fixed interest or interest only period – to research your options.

2. If you used to rent out the property as investment and are moving in, contact your Mortgage Broker. You can get a much cheaper rate for changing to an owner occupied loan product.

3. Ask your Broker for an annual home loan review. See if there’s a better loan product.

4. Check internet banking regularly to ensure loan transactions, notifications and repayments are all OK.

5. Don’t forget to change your mailing address after settlement.

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5 Tips To Reduce Your Home Loan Interest Rate

Coins

Here are 5 simple tips to help you get a reduction on your home loan interest rate.

1. Switch to Principle and Interest and pay your loan off faster.

2. Owner Occupiers qualify for lower rates. Have you moved into a property you bought as an investment?

3. Negotiate With Your Current Lender. Lenders would rather give you a discount than see you leave.

4. Switch Loan Products. Newer, better products come out all the time. It’s always well worth looking to see if there’s something more suitable out there.

5. Property Revaluation. An increase in the value of your property may come with a big interest discount.

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