Once upon a time employment and stability used to be the key to a successful loan application – things like your employment history, having minimal unsecured debt, the strong ability to service a loan, a clear savings history and a deposit.
BY CHRIS ACRET
These things are all still important, however we’re seeing a definite trend toward the requirement by lenders for more and more detailed information.
Naturally, you want to put your best foot forward and ensure your loan application is as strong as possible. This includes: Read more →
Buying your first home may not be as easy as it used to be, but it’s definitely achievable.
By CHRIS ACRET
If you’re a first homebuyer who’s feeling a little discouraged, take heart because there are many ways to get a foot in the property market door.
It might seem a little old fashioned, but simply changing your ‘money mindset’, creating a savings plan and getting organised can put you on the road to owning your first home. Read more →
If you’re considering making your owner-occupied home an investment property down the track, then you need to consider the loan’s structure from the very beginning.
By CHRIS ACRET
There’s a lot more to sourcing and managing the finance around a property purchase than simply telling your bank how much deposit you’ve got, what security you’re offering and getting a loan ‘off the shelf’.
Quite often lenders and their loan consultants take a ‘one size fits all’ approach to arranging a loan, but financing just isn’t like that.
For example, if it’s part of your longer-term plans to make your owner-occupied home an investment property in the future, you’ll need to think about the way you structure the initial loan.
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