Guides and Resources
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Home Buyer Essentials
Buying a home can be one of the most exciting times in anyone’s life. When taking such a big step there are so many things to consider. This guide is designed to help you through the home buying process and answer your questions.
Home Loan Essentials
Buying a property is the biggest investment most of us will ever make. Working with a professional mortgage broker will give you the support and service you need to make sound financial decisions every step of the way from loan application, right up to settlement. This guide covers all the home loan basics and how to get started.
Property Investment Guide
When done correctly, investing in property could help you create wealth for your future. This guide will provide you with everything you need to know about buying an investment property and getting the most out of your investment.
Lenders Mortgage Insurance
Often referred to as LMI, this guide is to help you understand what it is, how it works and what it might mean for you.
Offset Accounts vs Redraw Facilities
Offset accounts are like everyday transaction accounts, giving you easy access to your money. Redraw facilities let you access extra repayments that you have made on your home loan. Both can help reduce the amount of interest you pay on your home loan. This guide is to help you work out whether these features are right for you.
Allows you to split your home loan into multiple loan accounts that attract different interest rates. This guide covers what a split loan is, how split loans work, benefits and things to consider.
Variable Rate Home Loans
Variable rate home loans are popular and offered by most lenders. With a variable rate loan, the interest rate you are charged can fluctuate in line with market interest rate changes. Because of this, your home loan repayments may also vary. Generally, the variable interest rate on your loan will move in line with the market rate set by the RBA, but banks can set their own interest rates and change them at any time. This guide covers what’s good about a variable rate, things to consider and a what a Home Loan Package is.
Fixed Rate Home Loans
A fixed rate home loan allows you to set your interest rate for a period of time. This is usually in the range of one to five years. Sometimes, you can arrange to secure your interest rate for longer. This guide covers things to be aware of, what’s good about a fixed rate, things to consider, things to remember and Rate Lock.
Interest Only Home Loans
On an interest-only home loan (mortgage), your repayments only cover interest on the amount borrowed (the principal). For a set period (for example, five years), you pay nothing off the amount borrowed, so it doesn’t reduce. At the end of the interest-only period, the loan will change to a ‘principal and interest’ loan. You’ll start repaying the amount borrowed, as well as interest on that amount. That means higher repayments. This guide covers who should use an IO loan, how IO repayments differ, the benefits and things to consider.
First Home Buyers Family Pledge Guarantee
Saving the deposit for your first home can be difficult and take a number of years. One way to potentially get into your own home sooner is by having a family member act as a guarantor. Many lenders allow parents or someone who is close to you, to use the equity in their property as security for your home in lieu of you saving the full deposit required. This person is known as a guarantor. This guide covers how it works, how it’s different to being a co-borrower, who can be a guarantor and more.
Debt consolidation involves bringing your existing debts together into one new loan. The objective is to reduce the number of individual payments you make and reduce the interest rate you are paying on your more expensive debts. This guide is to help you work out whether it’s right for you, possible strategies, what’s good about it and things to consider.
Credit cards can be a convenient way to manage your finances, but they can also be expensive and risky. If you’re deciding whether or not a credit card is right for you, this guide covers some of the things you should consider.