Home Loans Articles

Can you afford an investment property deposit?

Buying an investment property may require an upfront deposit of 20 per cent of the property’s value. If you haven’t saved up enough cash to afford a deposit, there may be other options available to help you invest in property.

Why is it essential to carry out a property title search before purchasing a property?

A property title is a legal document that contains important information about the property you are buying. By checking the property title records, you can find out who owns the property, whether there’s any mortgage secured by it, and more.

Can you be your own mortgage broker?

Any Australian who thoroughly researches the home loan market and carefully compares mortgage offers could enjoy similar results to visiting a mortgage broker. While there may be some advantages to being your own broker, there are also potential benefits from having a broker in your corner.

Getting a home loan as a sole trader: Is it possible?

Many traditional lenders may not be willing to offer a home loan to sole traders. However, there are other lenders who can help borrowers with the right track record.

Does home size matter for a mortgage?

Purchasing a smaller property can often be more affordable than buying a larger property, and may offer different lifestyle benefits to some owner occupiers or to tenants of an investment property. However, it may be harder to successfully apply for a mortgage on some smaller properties due to the potential financial risk involved.  

Can mortgage brokers get you a bigger mortgage?

Mortgage brokers can provide valuable support on your home loan journey. By looking closely at your financial situation, a broker may be able to recommend home loan offers that closely suit your needs and goals, which could help increase your borrowing capacity and buying power.

What is build to rent?

Build to rent is a type of commercial property development that can add additional housing to an area. These projects involve building a housing complex - often an apartment tower - whose developer retains ownership, rather than selling off individual units to owner occupiers and investors. The developer then rents out the units to tenants.

What is debt consolidation, and how does it affect mortgage?

Repaying multiple loans and debts can be expensive and confusing. However, debt consolidation may help you better manage your finances. Find out how.

Can I get a loan to buy land in Australia?

You can get a land loan in Australia, but lenders may prefer borrowers buying registered land and planning to build a house on it.

Average mortgage age in Australia

Over the years, the average age to pay off a mortgage in Australia has increased. The average mortgage age may continue to increase depending on the property market.

What should you know about vacant land loans in Australia?

If you’re looking at purchasing a block of land, a vacant land home loan can provide you with the money you need.

What is a home loan top-up?

Topping up your home loan can be an efficient way to access additional funds. Based on your available home equity and financial situation, you may be able to borrow up to 80 per cent of your property’s value as a top-up loan.

What is a home equity conversion mortgage?

A home equity conversion mortgage is a way for homeowners above 60 to borrow money against the equity on their property - usually called reverse mortgages or home reversions.

How does a guarantor mortgage work?

Saving a deposit on a home is a significant hurdle facing many aspiring first time home buyers. A guarantor home loan may be the solution.

Why consider a bridging loan when buying and selling a house

A bridging loan could be helpful when you’re buying a new home and need to sell your current one.

Can I qualify for a joint home loan if my partner has bad credit?

If you or your partner have bad credit, lenders could potentially reject your joint application on the basis that both applicants are equally liable for the debt, so the overall level of risk must be assessed.

Do first-time home loan applicants qualify for tax benefits?

If you’re a first-time home buyer applying for a home loan, you could qualify for some tax deductions. For example, in some states and territories may be entitled to full exemptions or concessions on stamp duty. Read on to find out what else you might be eligible to receive.

Six top questions refinancers should ask a mortgage broker

Before you pick up the phone and get in contact with your local mortgage broker, it’s worth understanding some of the key questions you should be asking them.