November 7, 2017
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Non-bank lenders: the what, how and why

Where you choose to get your home loan from can affect the type of loan you get, meaning it’s important to think the decision through carefully. While many people turn to their bank for a loan, bear in mind that non-bank lenders might be a viable choice for you. What are non-bank lenders anyway? A non-bank lender has their own funds (therefore not a bank, credit union or building society), which they lend out with a margin for profit. This can include a company or individual who borrows money from banks at wholesale rates, and then lends the money with […]
November 3, 2017
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Can I purchase an investment property with a low income?

A common misconception is that only millionaires can afford to buy investment properties. In reality, people with a relatively low income can still buy investment properties, but will just need to plan carefully and be creative when starting their portfolio. If you’ve got a low income but big property investment dreams, we’ve got some tips to help. Find a loan that is friendly to investors Low income earners will take longer to save for a deposit, meaning a loan is essential for buying an investment property. The tables are further turned against low income earners because some lenders will demand […]
October 27, 2017
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How can I get the best home loan for me?

The lending market is saturated with options, making it difficult to determine whether your home loan is the best deal for you. Comparing your options is always smart, but can quickly become an arduous task, given how much information there is to sift through. A great way to get around this is by looking for a loan broker in Melbourne who can provide you with specialist knowledge.   While there are great websites you can use to compare home loans, lenders will sometimes refer to the same product with different names, making it hard to work out what you’re actually […]
October 5, 2017
refinance

Can my job save me money on my home loan?

When it comes to buying your first home in Melbourne, any bit of help you can get regarding your home loan is definitely welcome. What many people don’t know is that their profession may actually allow them to save money on their mortgage. This is bound to be welcome news for many first time home buyers in Melbourne who are looking for a way to make their dream home more attainable. In some cases, your job may mean you are perceived as a “low risk” borrower by lenders. This could entitle you to special discounts, allowing you greater choice when […]
August 22, 2017
roi

How do I maximize ROI on an investment property?

 When purchasing an investment property, there are a number of factors that could increase or reduce your potential return on investment. In this case it’s not just location, the number of rental properties are available in the suburb or street that you are intended to purchase. Rental yield, capital growth, future potential infrastructure plans also can be few factors to be considered. When considering a property for investment purposes, the most important question to ask is ‘will be attractive to tenants?’.  But how do you know what will appeal to someone you’ve never met? Settling on a handful of locations […]
August 14, 2017
savings

Can I use Bridging loan or deposit bond?

When selling one property and purchasing another, the funds from the sale may not be available in time to use for the purchase deposit.  There are typically two options in this scenario: a bridging loan and a deposit bond. Bridging loan A bridging loan is a short-term home loan designed to allow you to initiate the purchase of a property before you have sold your previous one. Loan terms are often between 6 and 12 months and bridging loans generally have a higher interest rate than traditional home loans. This can be a great option but carries some risk. It’s […]