The Australian banking environment has changed substantially over recent years. There has been an unarguable tightening in credit, which became even more restrictive following the Banking Royal Commission, along with a potentially related slowdown of housing lending during 2019.
As property prices rise over time purchasing in a centrally-located or sought-after area is out of reach for the average working millennial. Instead, many are opting to rent rather than buy as it means not having to compromise their inner city or beachside lifestyle. But for those who are still eager to enter the market, there is a way to get the best of both worlds. Continue reading Rentvesting – enter the property market without sacrificing your lifestyle
There is no doubt that Banks and other Lenders within the Australian home loan market have tightened their lending standards over the last 12 months. This tightening is having a significant impact on the borrowing capacity of many Australians looking to obtain a Home Loan.
However the good news is that with some focus and financial management you can still present a strong case on your borrowing capacity to the Banks.
The mortgage industry is a wide, wondrous world with a language all of its own. One of the many acronyms bandied about is ‘LVR’, which stands for ‘loan-to-valuation ratio’. Here’s what it means. Continue reading What is LVR?
Whether you’re after lower repayments or want to tap into the equity sitting in your home, refinancing can offer a world of benefits. Here are some things to be aware of so that you don’t find yourself hooked into a bad deal. Continue reading Refinancing traps to avoid!
There is no doubt that home loan lenders across Australia have tightened their lending requirements over recent years and borrowers now need to provide more detailed information to obtain a home loan.
For many borrowers this is leading to frustrating delays in applications and approvals. In many cases it is impacting the ability of potential home purchasers to obtain a home loan in the house price bracket they are seeking.
Below are some tips on how to approach your home loan application to give you the best chance of a positive result the first time!