Search results for: .hash.legalhomeloans

Top ways to cut your expenses and increase your savings

Is the key to saving a home deposit as simple as giving up smashed avo toast for breakfast? Well not quite, but spending less does make a difference. On top of a budget, a savings plan and strategies such as a high-interest savings account, an effective way to save is to reduce or eliminate expenses....

How to avoid paying LMI

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...

A preparation checklist for a business loan

Applying for a business loan is a completely different process to that of a home loan application. To ensure you don’t lose your way, we’ve set out a clear path for you to follow. 1. Find a specialised broker Commercial lending is very different to residential, so when searching for a broker, it is important...

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...

Investing interstate?

When 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...

Exit costs when refinancing

Refinancing can be a great way to save money if you believe you are paying too much for your loan, but there is more to it than just finding a loan with a lower interest rate and making the change. Before making the switch, ensure the savings you could make outweigh the fees involved. Here...

What 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...

Are you pre-approved?

Why 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...

Why use a broker?

Like 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...