Brokers wrote two-thirds of Australian mortgages in the September 2021 quarter! According to MFAA, mortgage brokers wrote a record 67% of all new residential home loans in the September quarter. More than two in three home loans were written by mortgage brokers between July-September 2021. The previous record of 60.1% was achieved in this same …
BROKERS WRITE TWO-THIRDS OF AUSTRALIAN MORTGAGES Read More »
Applying for a home loan can be confusing, time-consuming and stressful. But as a lawyer, there is good news for you! Banks and lenders assess legal professionals differently than they do the average person. Why is this? Simply put, legal professionals are considered low risk by lenders. This is because there is a higher level …
Why do lawyers get special treatment when applying for a home loan? Read More »
What grants and incentives can first home buyers get? As a first home buyer, you may eligible to take advantage of various incentives and grants offered by the government. But how do you know what’s relevant to you? We’ve summarised what’s available state by state below. Nationally: Practising solicitors are eligible to borrow with a …
First Home Buyers Guide: What’s available for you? Read More »
So, you’ve decided to buy a property. How exciting! Understanding the world of home loans may be confusing like what the difference is between a fixed and variable interest rate home loan. Both home loans setups offer unique advantages and what is better will depend on your situation + objectives. Here are some of the …
Victorians, did you know there is a new home buyer fund? The Victorian government has introduced the $500 million Victorian Homebuyer Fund (VHF), which is expected to support more than 3,000 home buyers. Eligible participants will only require a minimum deposit of 5 per cent, while the government will provide up to 25 per cent …
Australian Prudential Regulation Authority (APRA) has announced changes to mortgage lending rules for banks. APRA has told lenders that by November, it expects they will assess new borrowers’ ability to meet their loan repayments at an interest rate that is at least 3.0 percentage points above the loan product rate. This compares to 2.5 percentage points …
Have you been thinking of refinancing your mortgage but don’t know where to start? Here’s our step by step guide to help you better understand what’s involved in the process. Refinancing is the process of switching your existing home loan to a different lender or changing loan products. Many Australians choose to refinance to take …
You’ve decided to apply for a home loan. How exciting! Being prepared and having your documents ready can help things move faster and more smoothly. However, it can feel overwhelming when trying to get your head around everything you’ll need. To help, we’ve prepared a breakdown of all the documentation you can expect to submit …
Be prepared: What documents do I need for a home loan application? Read More »
You’ve got your pre-approval from the bank and know your borrowing capacity. Great, what’s next? Read below for our guide on the next steps you should take: Start looking at properties. Do some research and get to know the market. Look at comparable sales in the suburbs you’re considering. This will give you a better …
What to do after receiving your home loan pre-approval Read More »
When taking out a mortgage, there are fees and expenses you need to account for in addition to the property cost. Amidst the stress of applying for a home loan, these can easily be forgotten. Be prepared with our guide below and avoid last-minute panic. Here are some of the extra costs that you’ll need …