Lender’s mortgage insurance (LMI) is required in many instances when a loan is worth more than 80 per cent of a property’s purchase price, as well as in some other circumstances. In very basic terms, when a lender considers a loan to carry a high risk, LMI is likely payable. Here’s how you can avoid...
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Why your business loan was rejected
Due to the risks involved, strict guidelines are imposed on business finance, so securing approval can be difficult. Here are a few mistakes to avoid to increase your chances of approval. Not knowing your credit score Many consumers may not realise the importance of a credit score. Not only is it taken as a reflection...
Read MoreWhen people think of buying an investment property, many only think locally. Investing in a property interstate could possibly be a smarter idea, potentially resulting in a better return on your investment. it may also be a potential way to snaffle a bargain. You could be buying into an area with greater potential capital growth...
Read MoreWhat comes first: the property or the loan?
It’s easy to get carried away with the fun part of buying a property – looking at houses – but delaying the less compelling task of arranging finance will weaken your negotiating position on both the property and the loan. Looking for a property to purchase is an exciting time. Choices regarding location, size, number...
Read MoreWhy get a loan pre-approval? What is it? How could it help you? Well, just imagine you have some money saved up or have equity to invest and you’re thinking about a property purchase – perhaps to live in or as an investment. But how do you know where to start if you don’t have...
Read MoreLike many people, have you never really gauged why you’d use a broker? Have you ever thought “can’t my bank just organise my finance?” Well sure, but without a broker, it’s a bit like going to a shopping centre, walking into the first shop and buying the third item you try on, because the salesman/woman...
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