“Only those who are asleep make no mistakes” – INGVAR KAMPRAD, founder of IKEA. A vital step, often overlooked by homebuyers is to spend some time thinking about your goals, where you are going in life and how your new
The array of mortgages available helps a good credit adviser to tailor a package to suit your needs. Here are just some of the options. Fixed-rate mortgages With a fixed-rate loan, you know exactly how much you’ll pay per fortnight
That depends on who ‘you’ are. When you take out a mortgage or home loan, you can choose to have an interest rate this is fixed, variable, or split (a combination of the two). There is no right or wrong
Because they can save you time and money. As the home loan market becomes increasingly complex, more people are turning to credit advisers. Here are some of the reasons. Credit advisers can save time The choices now available in the
There are also non bank lenders or mortgage managers. In the past, the only mortgage lenders were banks, credit unions or building societies. More recently, another home loan lender has emerged: the mortgage manager or non bank lender. Credit advisers
Principal, interest, term & repayments. Here we explain a number of the basic terms and definitions used in home loans, mortgages and business finance: > Principal > Interest > Term > Repayments > Amortisation Loan principal “Principal” is the amount
As much as you can comfortably repay. It’s not that hard to work out your borrowing capacity. Every bank and credit adviser has an online home loan calculator that answers the question, “How much can I borrow?”. Working out how
No, it’s actually a little more than that. It has become common to use the terms “mortgage” and “home loan” interchangeably, but it’s useful to understand the differences. How a mortgage differs from a home loan A loan is where
Application & establishment fees, stamp duty + more. When they take out a mortgage, many people forget to consider the associated fees and expenses. Here are some of the extra costs that you’ll need to consider when you take out
A mortgage created for the self-employed. If you’re self-employed, you may have found it difficult to get a traditional mortgage. Don’t despair. The low doc home loan has been designed specifically for the self-employed. The dilemma of the self-employed If