Once you’ve paid off the second smaller loan, you can apply to remove the guarantee. This means your guarantor will only be liable for as long as it takes you to pay off the smaller loan. You can even make extra repayments to help release the guarantor’s property sooner. Or you are able to refinance your home loan once you have over 20% equity in your home.
Other FAQs
Yes, many lenders offer finance solutions specifically for businesses, including sole traders, partnerships and companies. The structure of the loan will depend on factors such as your business financials, trading [...]
During the accumulation phase, contributions are made into super and earnings are generally taxed at concessional rates. Once you transition into retirement and commence a pension, income may be drawn [...]
The tax treatment of premiums depends on the type of cover and how it is structured. For example: Income protection premiums are often tax deductible when held outside superannuation. Life, [...]
Approval timeframes can vary, but many asset and vehicle finance applications can be processed relatively quickly, sometimes within a few days. More complex commercial applications may take longer depending on [...]
A Limited Recourse Borrowing Arrangement (LRBA) is a specialised borrowing structure used by eligible SMSFs to acquire certain assets, including qualifying commercial property. Under an LRBA, the lender's security is [...]
Teacher home loans are available even if you’re on probation. However, note that you’ll need to meet all other standard lending criteria and have a clear credit history.
One of the biggest advantages of buying off the plan is time. Unlike traditional property purchases with relatively short windows to round up the total finance, you will have at [...]
Working as a casual teacher is simply the nature of starting your career as a new teacher. Some teachers also work casual indefinitely as it suits their lifestyles. We have [...]
If you dream of a new home but have nightmares at the thought of building one, an off-the-plan purchase may be the perfect compromise. Although you will not get to [...]
There isn’t a single number that suits everyone. The amount you need depends on your lifestyle expectations, housing situation, health, travel plans and whether you expect to receive any Age [...]
Salary sacrificing can be an effective way to build retirement savings tax-efficiently, particularly for higher income earners. Concessional contributions are generally taxed at a lower rate than many personal marginal [...]
Most lenders offer flexible repayment options to suit your pay cycle. If you aim to make weekly or fortnightly repayments, instead of monthly, you will make more payments in a [...]
Vehicle and asset finance allows you to purchase a car, equipment or other assets while spreading the cost over time. The lender provides the funds upfront, and you repay the [...]
No. When a fixed rate term ends the borrower has the option to re-fix, but this is for a new fixed term and will likely have a different interest rate. [...]
This is one of the most common and important retirement questions. The longevity of your savings depends on several factors, including: How much income you draw each year Investment returns [...]
