Borrowing for your business

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Your broker can help with your home loan and your business loan. There are several types of commercial and asset finance, so make sure you know the differences. Then you can decide which one will suit you.

What is commercial finance?

Commercial finance is an umbrella term for different kinds of business loans. They’re designed to help manage your capital and cash flow. Read more

How much should you borrow?

The amount you can borrow and the amount you should borrow are sometimes two very different things. Before you apply for a home loan, it makes sense to realistically assess your financial situation. Here’s how to do it.

Understand your borrowing capacity

Generally speaking, your borrowing capacity – what you can borrow – depends on a number of factors, including: Read more

Three Questions to ask before you refinance your home loan

The home loan market is constantly changing, with new and attractive deals coming up all the time. Refinancing can help you secure a more competitive interest rate, access the equity in your home, add features (such as an offset account) or consolidate your debts, but there are some important questions to consider before you get the ball rolling.

1.Has my financial situation changed since I first applied for a home loan?

A refinance is effectively a brand new loan application. All of the personal financial data you had to gather the first time around will need to be produced again. The stability of your income stream, your assets, and your credit card debts and other debts and expenses will all be reviewed, and may impact the result of your application. Read more

Home renovations – how to borrow effectively.

You’ve been dreaming of that new kitchen and dining room for as long as you can remember, and now the time has come to put your plans in motion. But do you really have the budget to afford the works? Here are a few things to think about before making the leap from Pinterest board to blueprints.

Work out your budget

Before you look at borrowing any money, you first need to work out how much your renovation will cost. Get Ask An Architect to send you their comprehensive guide to costing a renovation. Read more

Four must haves for your next property inspection

You’re walking down the street when you see it – the perfect house. It’s charming, quaint and, okay, maybe a bit small, but you’re sure you could extend it later. But before you sign on the dotted line, consider whether your dreams will hold up under a little scrutiny.

Every state has disclosure laws that require the vendor to tell you some of the potential pitfalls of the property. These laws aren’t comprehensive so consider the following when you’re inspecting your dream house. Read more

Buying a second property – what you need to know

Buying your own home remains the great Australian dream – and purchasing a second property may help you take your wealth further. Whether you’re building your property investment portfolio, buying a holiday house or supporting a family member, there are plenty of things to think about before you take that next step.

Consider your cashflow

Property tends to be a long-term investment, so do your sums to make sure you can afford the ongoing repayments on two mortgages. Also think about any major life changes on the horizon. For example, you may be planning to expand your family, or you might need to support a parent in the coming years. Read more

Buying off the plan- what to be aware of

Young couple dreaming and imaging their new house in real state concept

The rise of new apartment developments in our cities provides greater opportunities for potential home owners to buy off the plan. There are benefits to this, but also a number of things to be mindful of. We look at some of the things to consider when buying off the plan.

The benefits

A major benefit of purchasing off the plan is that you’ll own a brand new property. There are also financial benefits. For example, you’ll have the security of knowing how much you’ll pay for the property in the future, even if its value increases. Construction usually takes a year or two, so there’s time to save before you settle. Read more

The current economic climate

The year started with some turbulent economic activity in the local and international spheres, including a falling Australian dollar, local share market falls and the slowing of the Chinese economy. We run through the economic situation of early 2016.

The first 16 trading days of the year until 26 January saw the All Ordinaries Index fall by 5.4%, concerning both investors and consumers. This reflects some of the issues in the commodities market, where export prices for iron ore, coal, wheat and oil have continued to slump. Commodities account for over 50% of the country’s foreign earnings, compounding the impact on the share market and our foreign balance of trade. Read more

Your first home loan application

Navigating your first home loan application

Increase your chances of a fast approval with a well-prepared first home loan application. We show you how.

Although applying for your first home loan may be the biggest financial decision you’ll make, it doesn’t need to be an overwhelming one. With the right preparation, a realistic understanding of your financial position and some professional guidance from a good mortgage broker, you can position yourself as an attractive first home loan customer and be approved in no time. Read more

Why use a mortgage broker?

Why choose a mortgage broker?

While there is a huge array of home loan products on the market, there are also a lot of mortgage brokers and finance lenders to choose from.

Here are three reasons why choosing a mortgage broker is a decision that will always make you smile, now and in the years to come:

You’ll save lots of time’s dedication to face to face interactions, and visiting you in a location that works best for you, will save you a lot of time.  It saves you commuting time, which in turn gives you back working or leisure time.

By having a broker come to you, most likely in a location where the information you will need to supply is at hand, there is less time wasted in paperwork shuffling and information exchanges via email, fax or phone. Read more