We as homebuyers who have relied upon mortgages to help purchase property are always looking for ways to minimise our monthly repayments. The common strategy is refinancing to cheaper loans, however lesser known options are to utilise offset accounts and redraw facilities which can either fully remove, or minimise the interest charged to borrowers.
Soaring house prices over 2021 have reduced housing affordability for many homebuyers, especially younger first-home buyers. Saving up a 20% deposit is difficult at current prices, causing many to purchase property with a low deposit, leading to a downward spiral as the lenders charge LMI fees, further increasing the cost of purchasing.
Stamp Duty (Land Transfer Duty) is a tax charged by the state government upon the purchase of property. The amount charged to the buyer depends on the contract price.
Looking to buy around Melbourne or anywhere in Australia? Then this is a must read, learn about Lenders Mortgage Insurance, what it is and how you can avoid it.
From your trusted mortgage brokers.
A guarantor home loan is a potential strategy for new home buyers (not just first homeowners) which reduces the upfront financial strain of purchasing property and can reduce the monthly repayments of borrowers.
As a broker, our job is to help you find one loan out of the hundreds available that suits your individual needs. What’s more, we’ll help manage the whole process for you. We’ll assist you with the paperwork and manage the application process right through to approval.
Sometimes the best way to get an understanding of home loans, how it all works and how to choose the right one, is to speak to a broker.
Before you buy your first home, here are some essential facts you need to know.
The primary role of a mortgage broker is to find a loan that is appropriate for your needs. Once they have recommended a loan, the next part of their role is to guide you through the application, approval and settlement process.
This article contains my top 5 tips for fellow Gen Yers entering the housing market: