Is one phone call all it takes to secure a lower rate?

With official interest rates trending downward, shrewd mortgage holders may take the opportunity to call their lender to ask for a better deal.

But when even a small interest rate reduction means potential savings of thousands of dollars, is a simple phone call really enough to get you there?

Continue reading Is one phone call all it takes to secure a lower rate?

Home Loan Tip: How to increase your borrowing capacity

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 below provides some tips on how to maximise your borrowing capacity. Continue reading Home Loan Tip: How to increase your borrowing capacity

Why you should consider a Home Loan Health Check!

Within the home loan industry there are numerous offers to provide a review of your current loans, whether they call it a “Home Loan Health Check”, “Loan Review”, or similar.

What does this mean? Continue reading Why you should consider a Home Loan Health Check!

The Five Step Savings Plan for First Home Buyers

Getting into the property market and buying your first home can seem like an impossible task to many. Saving the deposit seems like a big ask, then you need to consider Stamp Duty and other purchase costs that just require even more savings!

Getting the deposit together takes discipline, but the rewards are great if you can manage your money effectively.

So what are the steps a future first home buyers should be doing to achieve their goal?

Continue reading The Five Step Savings Plan for First Home Buyers

Why use a Mortgage Broker?

Mortgage Brokers (also often referred to as Finance Brokers, Mortgage Planners or Credit Advisers) act as an intermediary between lenders and borrowers to negotiate loan facilities.

Over the last 10 – 15 years the usage of Mortgage Brokers in Australia has increased consistently and it is now estimated that approximately 1 in every 2 new home loans in Australia is sourced through a Mortgage Broker.

So why do so many borrowers utilise a Broker rather than going to their local Bank? Some of the benefits and reasons include:

Continue reading Why use a Mortgage Broker?