Home Loans Articles

When should I get a survey done on my property?

While you don’t legally need to undertake a property survey, you can do so to learn about the home you are about to buy and prepare for any eventualities.

What is the average length of a home loan?

Many Australians start out with a 30-year mortgage, though shorter and longer home loan terms are also available from some lenders. The length of your home loan can affect the cost of your repayments, as well as how much interest you’ll pay.

Is a mortgage a secured or unsecured loan?

A mortgage typically uses the property you are purchasing as collateral against the loan. In the worst-case scenario where you default on your mortgage, the lender may seize the property and sell it to reclaim its lost funds.

Can you afford home loan repayments?

Before you consider applying for your first or next home loan, it’s crucial that you crunch the numbers to discover if you can comfortably afford the repayments.

How to get a higher home loan?

You've found your dream property, but on checking your borrowing capacity, you come up short. There are some ways to strengthen your financial position and enhance your borrowing capacity to help you purchase your dream home.

Do mortgage brokers need a consumer credit license?

In Australia, mortgage brokers do need a credit licence to operate as they are defined by law as being credit service or assistance providers, meaning that they help borrowers connect with lenders.

Can mortgage arrears affect my credit rating?

Mortgage arrears could impact your credit rating and appear on your credit file even without a full default. Discuss your financial situation with your lender before defaulting.

Can you stop paying the mortgage after a divorce?

If you’re going through a divorce, or have just finalised your separation, you and your former spouse may still be liable to pay your mortgage, so it’s best to discuss this before separating.

Can you transfer a property to a family member for free?

If you’re looking to transfer property ownership between family members, you may wonder if it’s something you can do for free. Certain fees and charges may apply even if you gift the property.

Is it possible to get a personal loan using your home equity?

The equity you build in your house can be used as collateral to borrow money from a home loan lender at a potentially lower rate than a personal loan

How do banks fund mortgages?

Curious as to how banks can afford to fund mortgages? The answer lies with the funds in your humble bank and savings accounts.

How to transfer a home loan to another person

If you have an outstanding home loan, it is possible to transfer this to another person. There are multiple options both parties can consider, but the process is not without some risk.

How to buy an investment property interstate

Most property investors usually start with a property in an area they know well, or at least in the city in which they live. But buying a property investment in another state is also a potential strategic move.

How to budget for a home loan with a repayment calculator

Most Australians dream of owning a home. Even if this dream may seem out of reach, that doesn’t mean you shouldn’t start saving and researching how to reach your homeowner goal.

Does the Family Tax Benefit count as income?

The Family Tax Benefit is a two-part government payment designed to assist Australian families with the cost of raising children. It’s important you do not miscalculate your gross family income when applying for, and while receiving, support - you may wind up with a debt to Centrelink.

How do mortgage deposits work

Understand what lenders expect when it comes to mortgage deposits, and how the deposit you pay will affect your loan.

Buying a home jointly with a partner, friend or family member

Property co-ownership can reduce your costs to allow you to buy a home faster. However, that doesn’t mean it’s without its challenges.

What are the types of property valuation reports?

If you’re in the process of buying a new home, you might be interested to learn that there are a number of different types of property valuations that can be used in different circumstances.