CREDIT SCORE – WHAT IS IT AND WHY IS THIS IMPORTANT WHEN APPLYING FOR A LOAN?

A common reason why applications submitted to lenders get declined is because of an applicant’s credit score. A credit score is typically a number between 0-1,200 and is made up of several criteria – credit conduct history, the amount of credit enquiries, the type of enquiries made and the length of time the applicant hasContinue reading “CREDIT SCORE – WHAT IS IT AND WHY IS THIS IMPORTANT WHEN APPLYING FOR A LOAN?”

WHAT LENDERS LOOK FOR WHEN ASSESSING YOUR HOME LOAN APPLICATION

Applying for a Home Loan can be a nervous time for any prospective borrower. Whether you are hoping to buy your first home or your fifth, the process to get that final approval can be a difficult and frustrating experience. With greater regulation and the requirement to adhere to Responsible Lending Obligations, lenders are requiredContinue reading “WHAT LENDERS LOOK FOR WHEN ASSESSING YOUR HOME LOAN APPLICATION”

IS NOW THE BEST TIME TO FIX THE RATE ON YOUR HOME LOAN?

As a mortgage broker one of the most common questions I receive from clients is whether they should fix the interest rate on their Home Loan. Since the commencement of the COVID pandemic there has been a surge in clients locking in at least some of their Home Loan into a fixed rate to takeContinue reading “IS NOW THE BEST TIME TO FIX THE RATE ON YOUR HOME LOAN?”

STATE AND FEDERAL INCENTIVES FOR FIRST HOME BUYERS

One of the greatest challenges for State and Federal Governments is housing affordability. Trying to help the younger generation by their first home, or help people get out of the rental cycle, has been a focus for some time. There have been several initiatives announced by both levels of government over the last few budgetsContinue reading “STATE AND FEDERAL INCENTIVES FOR FIRST HOME BUYERS”

Why Should You Use A Mortgage Broker?

Why Should You Use a Mortgage Broker? It’s time, time to take control of your finances and stop paying Loyalty Tax to the bank. You want to refinance your home loan to get a better rate, but where do you go? The bank down the road looks like they have a good rate but you’reContinue reading “Why Should You Use A Mortgage Broker?”

FINANCE SOLUTIONS FOR THE SELF-EMPLOYED

FINANCE SOLUTIONS FOR THE SELF-EMPLOYED For people who work for themselves being able to obtain finance to buy a home, grow their business or purchase another asset can be a very challenging exercise. For a lot of self-employed there is a delicate balance between showing the Bank enough income to be able to repay aContinue reading “FINANCE SOLUTIONS FOR THE SELF-EMPLOYED”

WHY THE FESTIVE SEASON IS A GREAT TIME TO REVIEW YOUR FINANCES

As the Christmas and New Year period approach we are focused on spending time with family, perhaps getting away for a well-earned break and preparing to put a difficult 2020 behind us. This time of year is a great time to relax and enjoy being with our loved ones, but it is also a timeContinue reading “WHY THE FESTIVE SEASON IS A GREAT TIME TO REVIEW YOUR FINANCES”

CHANGES TO RESPONSIBLE LENDING OBLIGATIONS

CHANGES TO RESPONSIBLE LENDING OBLIGATIONS ON BANKS TO MAKE IT EASIER FOR BORROWERS TO ACCESS HOME LOANS In a recent Federal Government announcement there are plans underway to loosen the responsible lending obligations on Banks and other credit providers to make it easier for everyday Australians to access credit products, such as Home loans, CreditContinue reading “CHANGES TO RESPONSIBLE LENDING OBLIGATIONS”

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