Every borrower has a story. A lifestyle. A rhythm of spending that pulses through their grocery receipts, café habits, streaming
The Debt-to-Income Ratio (DTI) is a crucial financial metric that serves as a key determinant in lending decisions, measuring the
Inflation is an increase in the level of prices of the goods and services that households buy. It is measured as the rate of change of those prices. Typically, prices rise over time, but prices can also fall (a situation called deflation).
Monetary policy involves using interest rates to influence aggregate demand, employment and inflation in the economy. It is one of the main economic policies used to stabilise business cycles. The Reserve Bank is responsible for monetary policy in Australia ..
Compound Interest is the addition of interest to the principal sum of a loan – basically meaning that you pay interest on interest. Compound interest is standard practice when taking out a home loan.
A Risk Fee is a once-off charge payable by you when the amount of money you borrow for the purchase of a home or asset if higher than that lender’s acceptable LVR. For a home loan, this is usually 80% of the value of the home (80% LVR) …
Most lenders have moved away from the no-deposit home loan, although there are a few products available with very strict criteria. Excluding the no-deposit opportunities made available to the medical industry and other …
When you apply for a home loan, a lender will take a large number of factors into consideration when deciding whether or not to approve your application. The Serviceability assessment determines if you can comfortably “service” the loan repayments after considering all of your …
Conveyancing is the legal process of preparing and organising the required documents involved in the transfer of property from one person to another. The conveyance of a property is undertaken by both those who are …
Low doc (low documentation) home loans can benefit people who don’t have access to the level of information banks and lenders often require for your standard home loans. If you are a business owner, contractor, seasonal worker or freelancer, you may not have all …
Buying a house is filled with expenses, some examples being legal fees, stamp duty, application fees, as well as the initial required deposit. On top of these initial costs, there can be additional expenses, especially in that initial year, as you begin to personalise …
A ‘Split Home loan’, ‘Split Facility’, or ‘Split Mortgage’, is a home loan that combines a Fixed Home Loan and a Variable Home Loan. In essence, a Split Loan allows you to split a home loan into two accounts, both of which attract …
