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Loan Tip - Comparison Rate: What is it?

A loan's comparison interest rate is the interest rate that you will be paying for a loan including any fees and charges. You may have to look as this may not be clear immediately on a lenders advertising. Make sure that you ask any bank that you're comparing with for their comparison rate to ensure that you know exactly what repayments you'll be making; like comparing apples with apples! The article here also talks about split loans which can give you more flexibilty. I've also previously talked about redraw facilities here.

Would you actually like to own your investment property?

I've added some important information for about investing in Australia. It's a bit of a long read but might be just what you need to know! The short version is that lenders have just announced new low rates for investment properties. The longer version explains how you can use the current landscape to grow your assets. Read on here Want to actually own your investment property rather than just relying on capital growth??? Anyone who has any interest in investment needs to be aware of one vitally important change to the world of investing in Australia...everything you thought about investment loans is CHANGING. No longer are interest-only loans an expectation when buying an investment propert

How much should you borrow?

1. Only as much as you can repay with enough extra in your income to manage unexpected expenses 2. Not as much as the bank says that you can- if you can't cover point number 1 above If you're not sure and you'd like to be house hunting....call the office and set up an appointment :)

RBA Decision November 2017

The Reserve Bank has today announced a hold decision for November so the official cash rate is staying at 1.5%. Most industry experts had predicted another hold decision so it's now looking likely that we may not see any change until February with only one more decision to come for 2017. It's a great time to be paying extra into your loan while interest rates are as low as they are right now.

What are genuine savings?

I've been talking about what banks mean when they say that you need to have proof of 'genuine savings'. Our website is undergoing a makeover so I've added the info here. The short version is that proving genuine savings is just a matter of being intentional and genuine in a savings plan. I do list what a bank would generally consider genuine savings and what they don't. If this applies to you....enjoy the read :) What is and isn’t considered to be genuine savings is quite convoluted and to make things more unclear, each lender operates under their own policies The following types of savings are considered to be genuine savings if they add up to be more than 5% of the purchase price: Savings

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