The world of home loans offers a plethora of choices, with new ones continuously emerging, not to mention enticing special offers and deals. As your trusted broker, our role extends beyond just finding a loan that perfectly aligns with your unique requirements. We’ll also streamline the paperwork, taking care of the application process on your behalf.
It’s no wonder that over half of Australian borrowers now turn to brokers for their home loan needs.
If you’re keen on exploring your options before engaging a broker, take a moment to visit our “Different Loan Types” page for valuable insights.
For a clearer understanding of your borrowing capacity and anticipated repayments, consider trying out our online calculators.
Throughout your home-buying journey, whether you’re at the beginning or well into the process, please don’t hesitate to reach out. We are readily available via phone or email, and we’re dedicated to making your journey as smooth as possible.
Developers employ the “off the plan” sales method to secure as many commitments as possible, allowing them to obtain the necessary financing from lenders to proceed with the construction. Since buyers commit their deposits based on a promise of an apartment they won’t physically see for one to two years (or longer), prices are typically set at current market rates, often with enticing incentives to lure buyers. While this approach enhances the potential for capital gains, it’s important to note that price appreciation is never guaranteed, as past years have shown.
In exchange for your deposit, the developer should furnish a contract specifying the particulars of your purchase, the expected completion date for the development, and the deadline for deciding whether the project will proceed, often contingent on securing adequate financing. If the developer decides not to proceed or surpasses the decision deadline, you should typically be entitled to a refund of your deposit. However, this is subject to the terms and conditions outlined in the sale contract, underscoring the importance of thorough document review and, if necessary, seeking financial or legal counsel. Full payment for the property is typically not required until the settlement, which usually occurs one to three months after the completion.
While “off-the-plan” purchases offer promising advantages and profit potential, becoming an early participant in a new development doesn’t always guarantee swift financial gains. Here, we examine how to maximize this opportunity while steering clear of common pitfalls.
As time progresses, life evolves. Perhaps you’ve switched jobs, welcomed a new family member, or simply desire a more favorable interest rate. It could be the start of school fees, or maybe the kids have left the nest. And sometimes, it’s as simple as addressing a leaking shower or an aging kitchen that has reached its limit.
Changes in circumstances often call for a review of your home finances. For many, the prospect of refinancing a mortgage can appear complex. Factors like fees and the choice between fixed and variable interest rates require careful consideration.
The right refinanced loan has the potential to expedite your mortgage payoff, reduce overall costs, or enable you to renovate and enhance your home’s value—each of these moves in a positive direction.
In Australia, property remains a dependable investment due to its historical track record of consistent and gradual appreciation.
However, it’s not a quick-fix approach. The property market generally operates in cycles spanning seven to ten years, marked by peaks, troughs, and periods of stability.
Thankfully, Australia grapples with a persistent housing shortage, and the tax system allows for negative gearing on property investments, enabling investors to claim tax deductions for any incurred losses. This tax advantage continues to make housing a viable, long-term investment.
In light of stricter lending standards post the Global Financial Crisis, lenders have adopted a more cautious approach to assessing borrowers and their purposes for borrowing. In this evolving landscape, we stand ready to assist in identifying the right lender and loan that aligns with your specific circumstances. We’ll also navigate the myriad investment loan options available, freeing up your time to explore the perfect investment property.
These different types of home loans cater to various financial needs and preferences, so borrowers should carefully evaluate their individual situations and long-term goals when selecting the most suitable loan type. Consulting with a mortgage broker or lender can provide valuable guidance in making an informed decision based on specific circumstances.