Tag: Lending
Family Planning: Applying For A Home Loan With A Baby On The Way
A new baby completely changes your life. Are you also prepared for how a new baby might affect your chances of buying a home? Here are some things to consider before you submit your application.
Get the most out of refinancing
Everyone wants to pay less on their mortgage, and refinancing is one strategy to help lower your interest rates – but is it worth it? We take a look at how you can get the most out of refinancing.
Cash Rate on hold 1.5%
The RBA board has decided to leave the cash rate on hold at a record low of 1.5%.
Why it’s so important to review your investment loans now!
As a result of the “slow down” in investment lending combined with significant losses in market share, major and non-major banks and lenders who imposed heavy restrictions on investment lending are now again open for investment business.
How your bank calculates a business risk
Just like you, banks are in business – and they don’t succeed by making bad deals. When they consider your loan application, they’re calculating the financial risk of entering into an arrangement with you. Let’s break it down…
How redraw works and why it’s a handy loan feature
It’s one of the less glamorous home loan features, but the redraw facility deserves a second look. Here’s why:
ANZ Lending Update
Effective 16 June, ANZ Bank will increase their Variable Interest Only home loan rates for both investors and owner occupiers by 30 basis points. ANZ's Standard Variable Rate for investment lending with Interest Only repayments is now 6.26% p.a.
Last of the Major 4 Banks to cap interest only loans at 80% LVR
Westpac Bank announced today the maximum LVR (loan to valuation ratio) for those seeking interest only repayments will be capped at 80%. This applies to both owner occupied and investment lending. They are last of the Major 4 Banks to cap LVRs for …
Overcapitalising – what is it and how to avoid it
As a home owner or property investor, you may have heard the term ‘overcapitalising’. But what exactly is it and why is it considered bad?
Your guide to investment property loans
There are certain things to look out for when selecting and applying for a loan for your investment property. Here we look at the main differences, the most popular loan types, and how to get the best mortgage for your situation.
Cash rate remains at 1.50% and lending polices are expected to further tighten
The RBA has again left interest rates on hold at the historical low of 1.50%. There has been no changes to the cash rate since August 2016. However over the past few weeks out of cycle rate hikes by the major banks and second tier lenders have made front page headlines. These interest rate increases ranged from negligible increases to owner occupied loans to smacking investors and those whose loans feature interest only repayments with some significant increases.
You’ve won the auction – what happens next?
Congratulations! You’ve just bought a property at auction. Before you can move in, there are some things you need to do. Remember, it’s always recommended to seek legal advice when purchasing a property.