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Mortgage featured stories

What will I achieve with a “Loan Health Check”

Home Finance, Property, Tips
Share

Many professionals within the finance industry offer to provide a review of your current loans with terminology such as “Home Loan Health Check”, “Loan review”, or similar.

But what does this mean and what does it involve?

Ultimately the basis behind a review is to assess the current rate, terms and fees of your existing loan to assess if you can negotiate a more effective loan structure, whether your focus is to: – Reduce your loan repayments – Reduce the amount of interest or fees you pay – Pay off your loan more quickly Unfortunately with our busy lifestyles there are some ongoing payments, such as our loans, insurances and utilities that we just pay each month without ever reviewing to see if we can obtain better terms.  For many of us our loan repayments are our biggest cost, and yet with the day to day pressures of life we never really review the terms to assess if there are more competitive options available. Yet such a review could potentially save us thousands of dollars!  Just consider a $350,000 loan in which the borrower’s interest rate is 0.50% p.a. more than could be achieved in the current market.  The annual saving of improving the rate by 0.50% p.a. could be as much as $1,750! Consider what the savings could be if the loan was greater than $350,000 or the improved interest rate was more than 0.50% p.a.!  Maybe you could obtain a package with reduced bank fees as well! What could our borrower do with the extra money?  Could they: – Go on a short holiday! – Buy the entertainment system they have always wanted! – Increase their repayments to pay off their loan sooner! The best part of all is that by using a qualified loan specialist such as a Finance / Mortgage Broker you may be able to invest as little as an hour of your time to assess if you could save money on your loan, as the broker will do the research and comparison for you. Of course your Finance / Mortgage Broker will require some basic information to do an assessment such as: – A copy of your recent loan statement and/or 6 months transactions (showing your interest rate and repayments) – Copies of recent payslips or other confirmation of your income – A summary of your financial position (i.e. Assets & Liabilities, summary of income and expenses).  Most brokers will have their standard ‘Fact Find’ document that you can complete to provide this information. So the only question for most borrowers is “should I spend an hour of my time to investigate if I can save money on my mortgage? If you would like to know more contact your local Loan / Mortgage Broker who can provide assistance in working through the options on offer and help you establish what will suit your personal circumstances.  

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Is a tree or sea change on your horizon?

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Is a tree or sea change on your horizon? Fresh air, no bumper-to-bumper traffic and more affordable home prices. There’s plenty of appeal in regional living, including a chance to potentially reduce your home loan.

Is a tree or sea change on your horizon?

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Is a tree or sea change on your horizon? Fresh air, no bumper-to-bumper traffic and more affordable home prices. There’s plenty of appeal in regional living, including a chance to potentially reduce your home loan.

Is a tree or sea change on your horizon?

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Is a tree or sea change on your horizon? Fresh air, no bumper-to-bumper traffic and more affordable home prices. There’s plenty of appeal in regional living, including a chance to potentially reduce your home loan.

Why three-in-four Aussies turn to a broker for home loan help

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Why three-in-four Aussies turn to a broker for home loan help You might have seen a headline or two about a particular big bank being at war with brokers. Nothing could be further from the truth. Our mission is – and always will be – putting you first. That’s why three in every four borrowers now come to us for help.

Why three-in-four Aussies turn to a broker for home loan help

News
Why three-in-four Aussies turn to a broker for home loan help You might have seen a headline or two about a particular big bank being at war with brokers. Nothing could be further from the truth. Our mission is – and always will be – putting you first. That’s why three in every four borrowers now come to us for help.

Why three-in-four Aussies turn to a broker for home loan help

News
Why three-in-four Aussies turn to a broker for home loan help You might have seen a headline or two about a particular big bank being at war with brokers. Nothing could be further from the truth. Our mission is – and always will be – putting you first. That’s why three in every four borrowers now come to us for help.

Mortgage featured stories

What will I achieve with a “Loan Health Check”

Home Finance, Property, Tips
Share

Many professionals within the finance industry offer to provide a review of your current loans with terminology such as “Home Loan Health Check”, “Loan review”, or similar.

But what does this mean and what does it involve?

Ultimately the basis behind a review is to assess the current rate, terms and fees of your existing loan to assess if you can negotiate a more effective loan structure, whether your focus is to: – Reduce your loan repayments – Reduce the amount of interest or fees you pay – Pay off your loan more quickly Unfortunately with our busy lifestyles there are some ongoing payments, such as our loans, insurances and utilities that we just pay each month without ever reviewing to see if we can obtain better terms.  For many of us our loan repayments are our biggest cost, and yet with the day to day pressures of life we never really review the terms to assess if there are more competitive options available. Yet such a review could potentially save us thousands of dollars!  Just consider a $350,000 loan in which the borrower’s interest rate is 0.50% p.a. more than could be achieved in the current market.  The annual saving of improving the rate by 0.50% p.a. could be as much as $1,750! Consider what the savings could be if the loan was greater than $350,000 or the improved interest rate was more than 0.50% p.a.!  Maybe you could obtain a package with reduced bank fees as well! What could our borrower do with the extra money?  Could they: – Go on a short holiday! – Buy the entertainment system they have always wanted! – Increase their repayments to pay off their loan sooner! The best part of all is that by using a qualified loan specialist such as a Finance / Mortgage Broker you may be able to invest as little as an hour of your time to assess if you could save money on your loan, as the broker will do the research and comparison for you. Of course your Finance / Mortgage Broker will require some basic information to do an assessment such as: – A copy of your recent loan statement and/or 6 months transactions (showing your interest rate and repayments) – Copies of recent payslips or other confirmation of your income – A summary of your financial position (i.e. Assets & Liabilities, summary of income and expenses).  Most brokers will have their standard ‘Fact Find’ document that you can complete to provide this information. So the only question for most borrowers is “should I spend an hour of my time to investigate if I can save money on my mortgage? If you would like to know more contact your local Loan / Mortgage Broker who can provide assistance in working through the options on offer and help you establish what will suit your personal circumstances.  

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Is a tree or sea change on your horizon?

News
Is a tree or sea change on your horizon? Fresh air, no bumper-to-bumper traffic and more affordable home prices. There’s plenty of appeal in regional living, including a chance to potentially reduce your home loan.

Is a tree or sea change on your horizon?

News
Is a tree or sea change on your horizon? Fresh air, no bumper-to-bumper traffic and more affordable home prices. There’s plenty of appeal in regional living, including a chance to potentially reduce your home loan.

Is a tree or sea change on your horizon?

News
Is a tree or sea change on your horizon? Fresh air, no bumper-to-bumper traffic and more affordable home prices. There’s plenty of appeal in regional living, including a chance to potentially reduce your home loan.

Why three-in-four Aussies turn to a broker for home loan help

News
Why three-in-four Aussies turn to a broker for home loan help You might have seen a headline or two about a particular big bank being at war with brokers. Nothing could be further from the truth. Our mission is – and always will be – putting you first. That’s why three in every four borrowers now come to us for help.

Why three-in-four Aussies turn to a broker for home loan help

News
Why three-in-four Aussies turn to a broker for home loan help You might have seen a headline or two about a particular big bank being at war with brokers. Nothing could be further from the truth. Our mission is – and always will be – putting you first. That’s why three in every four borrowers now come to us for help.

Why three-in-four Aussies turn to a broker for home loan help

News
Why three-in-four Aussies turn to a broker for home loan help You might have seen a headline or two about a particular big bank being at war with brokers. Nothing could be further from the truth. Our mission is – and always will be – putting you first. That’s why three in every four borrowers now come to us for help.

Mortgage featured stories

What will I achieve with a “Loan Health Check”

Home Finance, Property, Tips
Share

Many professionals within the finance industry offer to provide a review of your current loans with terminology such as “Home Loan Health Check”, “Loan review”, or similar.

But what does this mean and what does it involve?

Ultimately the basis behind a review is to assess the current rate, terms and fees of your existing loan to assess if you can negotiate a more effective loan structure, whether your focus is to: – Reduce your loan repayments – Reduce the amount of interest or fees you pay – Pay off your loan more quickly Unfortunately with our busy lifestyles there are some ongoing payments, such as our loans, insurances and utilities that we just pay each month without ever reviewing to see if we can obtain better terms.  For many of us our loan repayments are our biggest cost, and yet with the day to day pressures of life we never really review the terms to assess if there are more competitive options available. Yet such a review could potentially save us thousands of dollars!  Just consider a $350,000 loan in which the borrower’s interest rate is 0.50% p.a. more than could be achieved in the current market.  The annual saving of improving the rate by 0.50% p.a. could be as much as $1,750! Consider what the savings could be if the loan was greater than $350,000 or the improved interest rate was more than 0.50% p.a.!  Maybe you could obtain a package with reduced bank fees as well! What could our borrower do with the extra money?  Could they: – Go on a short holiday! – Buy the entertainment system they have always wanted! – Increase their repayments to pay off their loan sooner! The best part of all is that by using a qualified loan specialist such as a Finance / Mortgage Broker you may be able to invest as little as an hour of your time to assess if you could save money on your loan, as the broker will do the research and comparison for you. Of course your Finance / Mortgage Broker will require some basic information to do an assessment such as: – A copy of your recent loan statement and/or 6 months transactions (showing your interest rate and repayments) – Copies of recent payslips or other confirmation of your income – A summary of your financial position (i.e. Assets & Liabilities, summary of income and expenses).  Most brokers will have their standard ‘Fact Find’ document that you can complete to provide this information. So the only question for most borrowers is “should I spend an hour of my time to investigate if I can save money on my mortgage? If you would like to know more contact your local Loan / Mortgage Broker who can provide assistance in working through the options on offer and help you establish what will suit your personal circumstances.  

More Stories

Is a tree or sea change on your horizon?

News
Is a tree or sea change on your horizon? Fresh air, no bumper-to-bumper traffic and more affordable home prices. There’s plenty of appeal in regional living, including a chance to potentially reduce your home loan.

Is a tree or sea change on your horizon?

News
Is a tree or sea change on your horizon? Fresh air, no bumper-to-bumper traffic and more affordable home prices. There’s plenty of appeal in regional living, including a chance to potentially reduce your home loan.

Is a tree or sea change on your horizon?

News
Is a tree or sea change on your horizon? Fresh air, no bumper-to-bumper traffic and more affordable home prices. There’s plenty of appeal in regional living, including a chance to potentially reduce your home loan.

Why three-in-four Aussies turn to a broker for home loan help

News
Why three-in-four Aussies turn to a broker for home loan help You might have seen a headline or two about a particular big bank being at war with brokers. Nothing could be further from the truth. Our mission is – and always will be – putting you first. That’s why three in every four borrowers now come to us for help.

Why three-in-four Aussies turn to a broker for home loan help

News
Why three-in-four Aussies turn to a broker for home loan help You might have seen a headline or two about a particular big bank being at war with brokers. Nothing could be further from the truth. Our mission is – and always will be – putting you first. That’s why three in every four borrowers now come to us for help.

Why three-in-four Aussies turn to a broker for home loan help

News
Why three-in-four Aussies turn to a broker for home loan help You might have seen a headline or two about a particular big bank being at war with brokers. Nothing could be further from the truth. Our mission is – and always will be – putting you first. That’s why three in every four borrowers now come to us for help.

First home buyers turn to Bank of Nan and Pop

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First home buyers turn to Bank of Nan and Pop Nan and Pop have always been good for birthday money, but one-in-10 grandparents are taking their generosity to the next level: helping their grandkids buy a first home.

First home buyers turn to Bank of Nan and Pop

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First home buyers turn to Bank of Nan and Pop Nan and Pop have always been good for birthday money, but one-in-10 grandparents are taking their generosity to the next level: helping their grandkids buy a first home.

First home buyers turn to Bank of Nan and Pop

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First home buyers turn to Bank of Nan and Pop Nan and Pop have always been good for birthday money, but one-in-10 grandparents are taking their generosity to the next level: helping their grandkids buy a first home.

What you should know before buying ‘subject to finance’

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What you should know before buying ‘subject to finance’ Not sure if you’ll get the thumbs up for a home loan? But you really, really like that house that just popped up? Making an offer ‘subject to finance’ could be the right move. Here’s how it works.

What you should know before buying ‘subject to finance’

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What you should know before buying ‘subject to finance’ Not sure if you’ll get the thumbs up for a home loan? But you really, really like that house that just popped up? Making an offer ‘subject to finance’ could be the right move. Here’s how it works.

What you should know before buying ‘subject to finance’

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What you should know before buying ‘subject to finance’ Not sure if you’ll get the thumbs up for a home loan? But you really, really like that house that just popped up? Making an offer ‘subject to finance’ could be the right move. Here’s how it works.

Not feeling the budget love? 4 ways you could still get ahead

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Not feeling the budget love? 4 ways you could still get ahead If the latest federal government budget is leaving you hungry for perks and savings, you’re not alone. We’ve had a brainstorm and here are four ways you could start working towards your property goals now.

Not feeling the budget love? 4 ways you could still get ahead

News
Not feeling the budget love? 4 ways you could still get ahead If the latest federal government budget is leaving you hungry for perks and savings, you’re not alone. We’ve had a brainstorm and here are four ways you could start working towards your property goals now.

Not feeling the budget love? 4 ways you could still get ahead

News
Not feeling the budget love? 4 ways you could still get ahead If the latest federal government budget is leaving you hungry for perks and savings, you’re not alone. We’ve had a brainstorm and here are four ways you could start working towards your property goals now.

Low deposit scheme helps over 150,000 families buy sooner

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Low deposit scheme helps over 150,000 families buy sooner Whether you’re rat running your local streets, or have a knack for always picking the fast-moving supermarket queue – everyone loves a good time-saving hack. Well, today we’ll let you in on a scheme that could get you into your first home years – yep years – sooner!

Low deposit scheme helps over 150,000 families buy sooner

News
Low deposit scheme helps over 150,000 families buy sooner Whether you’re rat running your local streets, or have a knack for always picking the fast-moving supermarket queue – everyone loves a good time-saving hack. Well, today we’ll let you in on a scheme that could get you into your first home years – yep years – sooner!

Low deposit scheme helps over 150,000 families buy sooner

News
Low deposit scheme helps over 150,000 families buy sooner Whether you’re rat running your local streets, or have a knack for always picking the fast-moving supermarket queue – everyone loves a good time-saving hack. Well, today we’ll let you in on a scheme that could get you into your first home years – yep years – sooner!

Here’s why your borrowing power might soon get a lift

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Here’s why your borrowing power might soon get a lift Who doesn’t love a tax cut? Most of us are now only weeks away from saving on our tax bills, with Stage 3 tax cuts to kick in from 1 July. But another key advantage is that the tax cuts could give your borrowing power a nice boost.

Here’s why your borrowing power might soon get a lift

News
Here’s why your borrowing power might soon get a lift Who doesn’t love a tax cut? Most of us are now only weeks away from saving on our tax bills, with Stage 3 tax cuts to kick in from 1 July. But another key advantage is that the tax cuts could give your borrowing power a nice boost.

Here’s why your borrowing power might soon get a lift

News
Here’s why your borrowing power might soon get a lift Who doesn’t love a tax cut? Most of us are now only weeks away from saving on our tax bills, with Stage 3 tax cuts to kick in from 1 July. But another key advantage is that the tax cuts could give your borrowing power a nice boost.

What you should know before buying ‘subject to finance’

News
What you should know before buying ‘subject to finance’ Not sure if you’ll get the thumbs up for a home loan? But you really, really like that house that just popped up? Making an offer ‘subject to finance’ could be the right move. Here’s how it works.

What you should know before buying ‘subject to finance’

News
What you should know before buying ‘subject to finance’ Not sure if you’ll get the thumbs up for a home loan? But you really, really like that house that just popped up? Making an offer ‘subject to finance’ could be the right move. Here’s how it works.

What you should know before buying ‘subject to finance’

News
What you should know before buying ‘subject to finance’ Not sure if you’ll get the thumbs up for a home loan? But you really, really like that house that just popped up? Making an offer ‘subject to finance’ could be the right move. Here’s how it works.

Not feeling the budget love? 4 ways you could still get ahead

News
Not feeling the budget love? 4 ways you could still get ahead If the latest federal government budget is leaving you hungry for perks and savings, you’re not alone. We’ve had a brainstorm and here are four ways you could start working towards your property goals now.

Not feeling the budget love? 4 ways you could still get ahead

News
Not feeling the budget love? 4 ways you could still get ahead If the latest federal government budget is leaving you hungry for perks and savings, you’re not alone. We’ve had a brainstorm and here are four ways you could start working towards your property goals now.

Not feeling the budget love? 4 ways you could still get ahead

News
Not feeling the budget love? 4 ways you could still get ahead If the latest federal government budget is leaving you hungry for perks and savings, you’re not alone. We’ve had a brainstorm and here are four ways you could start working towards your property goals now.

Low deposit scheme helps over 150,000 families buy sooner

News
Low deposit scheme helps over 150,000 families buy sooner Whether you’re rat running your local streets, or have a knack for always picking the fast-moving supermarket queue – everyone loves a good time-saving hack. Well, today we’ll let you in on a scheme that could get you into your first home years – yep years – sooner!

Low deposit scheme helps over 150,000 families buy sooner

News
Low deposit scheme helps over 150,000 families buy sooner Whether you’re rat running your local streets, or have a knack for always picking the fast-moving supermarket queue – everyone loves a good time-saving hack. Well, today we’ll let you in on a scheme that could get you into your first home years – yep years – sooner!

Low deposit scheme helps over 150,000 families buy sooner

News
Low deposit scheme helps over 150,000 families buy sooner Whether you’re rat running your local streets, or have a knack for always picking the fast-moving supermarket queue – everyone loves a good time-saving hack. Well, today we’ll let you in on a scheme that could get you into your first home years – yep years – sooner!

Here’s why your borrowing power might soon get a lift

News
Here’s why your borrowing power might soon get a lift Who doesn’t love a tax cut? Most of us are now only weeks away from saving on our tax bills, with Stage 3 tax cuts to kick in from 1 July. But another key advantage is that the tax cuts could give your borrowing power a nice boost.

Here’s why your borrowing power might soon get a lift

News
Here’s why your borrowing power might soon get a lift Who doesn’t love a tax cut? Most of us are now only weeks away from saving on our tax bills, with Stage 3 tax cuts to kick in from 1 July. But another key advantage is that the tax cuts could give your borrowing power a nice boost.

Here’s why your borrowing power might soon get a lift

News
Here’s why your borrowing power might soon get a lift Who doesn’t love a tax cut? Most of us are now only weeks away from saving on our tax bills, with Stage 3 tax cuts to kick in from 1 July. But another key advantage is that the tax cuts could give your borrowing power a nice boost.

How to know if you’re paying a fair price

News
How to know if you’re paying a fair price We all love the idea of nabbing a bargain property, but for most home buyers the real issue is whether they’re overvaluing a place – and paying too much in the process.

How to know if you’re paying a fair price

News
How to know if you’re paying a fair price We all love the idea of nabbing a bargain property, but for most home buyers the real issue is whether they’re overvaluing a place – and paying too much in the process.

How to know if you’re paying a fair price

News
How to know if you’re paying a fair price We all love the idea of nabbing a bargain property, but for most home buyers the real issue is whether they’re overvaluing a place – and paying too much in the process.

Can you remember your home loan interest rate?

News
Can you remember your home loan interest rate? Where you put your car keys, who won the footy premiership three years back, the new prime minister of New Zealand’s name – all very much socially acceptable things to forget. Your home loan rate shouldn’t be on that list.

Can you remember your home loan interest rate?

News
Can you remember your home loan interest rate? Where you put your car keys, who won the footy premiership three years back, the new prime minister of New Zealand’s name – all very much socially acceptable things to forget. Your home loan rate shouldn’t be on that list.

Can you remember your home loan interest rate?

News
Can you remember your home loan interest rate? Where you put your car keys, who won the footy premiership three years back, the new prime minister of New Zealand’s name – all very much socially acceptable things to forget. Your home loan rate shouldn’t be on that list.