A Principal and Interest home loan is a mortgage designed to allow you to pay off the amount you borrow by the end of the loan term. The objective is that the borrower will eventually repay the debt and own the property outright. Principal and Interest repayments can apply to home loans with either a […]
Should you refinance your existing home loan or stick to the one you already have? It can be challenging to decide which the right option might be, especially with so many lenders advertising such competitive interest rates. However, just because another bank or lender offers a lower interest rate doesn’t necessarily mean you’ll end up […]
More and more baby-boomer parents are digging into their retirement savings to help their children enter the property market, states a new report from Digital Finance Analytics (DFA).
Before you rush out to hunt for your dream home, have you considered how you’ll get a home loan? Getting your home loan approved is much easier when you know what lenders are looking for before you submit your application. Here are some things to consider.
If you’re buying or selling a home, chances are you’ll need to deal with a conveyancer to complete the transaction. The primary purpose of conveyancing is to transfer the title of ownership in land from one owner to another.
With so many different banks, credit unions, building societies and other lending institutions to choose from, it can be difficult to know which one will be best suited to your needs. Fortunately, a mortgage broker can help you compare the options available and even arrange special deals. A mortgage broker acts on your behalf to […]
Using a mortgage offset account could potentially cut years off your home loan and slash the amount of interest you pay at the same time. Offset accounts are simply transaction or savings accounts that are linked to your home loan. The balance you have in your account at any time is ‘offset’ each day against […]
If you’re paying off a mortgage on your own home or an investment property, it’s likely you could have some home equity. When used correctly, your home equity could potentially be a surprisingly useful financial tool. The word ‘equity’ means ownership. Your home equity refers to the amount of ownership you’ve built up in your […]