Investing

61. can your profession save you on your home loan

Can your profession save you on your home loan?

When it comes to saving on your mortgage, some of you may not have to look further than your job. If yours is a profession that classifies you as a ‘low risk’ borrower in the eyes of lenders, then you may be entitled to special discounts. The lucky ones Accountants, lawyers and teachers are commonly eligible for home loan discounts, or particular loan types without fees, based on their professions. The benefits differ depending on specific professions. It depends on what industry the lenders decide to target as it’s a constantly changing situation, so what’s here today may not be around tomorrow. An example of this is the slowing down of the mining industry in 2015, which saw mining engineers lose their ‘in demand’
57. why good tenants are more important than you think

Why good tenants are more important than you think

Given you don’t have to spend much time with your tenants, you may think it’s not important who they are. If they pay their rent on time, they’re ok – right? Not quite. Good tenants can actually mean the difference between a high and a low-performing investment. In fact, finding a great tenant may be just as important as finding the perfect location for your investment property. Here are some reasons why it’s worth trying to attract high-quality tenants. Minimise your maintenance costs Good tenants will treat your property like it’s their own, so you’re less likely to find unpleasant surprises when they leave. By respecting your investment and keeping it clean and tidy, it will show less wear and tear as the years
56. ready to buy property off the plan

Ready to buy property off the plan? Read this first

Buying property off the plan is exciting as it means you get to own a brand-new home, but make sure you know what’s involved. Start by asking these five questions: Do you know the risks? When buying an apartment, unit or house off the plan, you’re purchasing a promise. You can’t step into the future and inspect the property you’re buying. Thoroughly investigate what the finished product will look like and explore the risks with your broker. Does your contract limit the risks? The contract should be comprehensive, covering everything from price, completion date and your legal rights, to conditions such as whether you can on-sell the property before it’s completed • what happens to your deposit if the building doesn’t go ahead •
53. trest your investment property like a business and your tenants like clients

Treat your investment property like a business and your tenants like clients

It’s important to look after the tenants in your investment property – it encourages them to stay long term and take care of your property. So how can you keep your tenants happy? By treating your property like a business and your tenants like valued customers. The tenant as customer The rental market in most Australian cities is tight, with plenty of renters looking for accommodation. But that doesn’t mean you have your tenants over a barrel. They pay good money to rent a property and in return they expect a clean, safe and well-maintained place to live. If you can keep your property in good order and your current tenants satisfied, you’ll save yourself the time and money it takes to find new
52. five reasons to consider white label

Five reasons to consider white-label loans

A white-label loan is essentially a home-branded loan, much like the home-branded products you see in the supermarket aisles. Like these products, white-label loans aim to deliver many of the same great features as bank-branded home loans, but for a lower cost to you the customer.  A trend seen in supermarkets over recent years has been not only an increase in the range of white-label options on offer, but also an increase in the quality of those products.  This trend has continued to the extent that white-label products are now frequently of equal, or near equal, quality as their branded counterparts. In the same way, banks across Australia provide ‘unbranded’ mortgage products to brokers, which increases the range of options within the market and
51. the essential guide to first home buyer grants

The essential guide to first home buyer grants

As parents, we want the best for our children, particularly when they’re making a major purchase. When it comes to buying their first home, knowing what government assistance is available can make all the difference. Read on to learn about the First Home Owner Grant (FHOG) in each state and territory. Watching your children buy their first home can be exciting – and overwhelming. You see them working hard to save that all-important deposit, looking at properties, and counting down the days until they can move into their own place. However, your kids’ ‘great Australian dream’ could actually happen sooner than you (and they) think. Thanks to government efforts to accelerate home ownership and boost the home building industry, first home buyers are now
47. what to consider when buying a second property

What to consider when buying a second property

Buying your own home remains the great Australian dream – and purchasing a second property may help you take your wealth further. Whether you’re building your property investment portfolio, buying a holiday house or supporting a family member, there are plenty of things to think about before you take that next step. Consider your cashflow Property tends to be a long-term investment, so do your sums to make sure you can afford the ongoing repayments on two mortgages. Also think about any major life changes on the horizon. For example, you may be planning to expand your family, or you might need to support a parent in the coming years. Get to know the market and location Research what’s happening in the current market
48. your guide to investment property loans

Your guide to investment property loans

There are certain things to look out for when selecting and applying for a loan for your investment property. Here we look at the main differences, the most popular loan types, and how to get the best mortgage for your situation. Interest-only, fixed, variable, offset – finding the investment home loan that’s right for you can seem like a minefield of financial jargon and conditions. The key to finding the right loan is to have a clear investment strategy: are you going to renovate and sell, or stay on for the long term and ride the property wave? Fixed interest rate loan Arranging a mortgage with a fixed interest rate gives you certainty – you’ll know up-front what you need to repay annually. This
46. the best apps to help you househunt

The best apps to help you house hunt, renovate and decorate

These days finding the perfect location to buy a property – and some great options for decorating it – is as easy as flicking through your phone. This list of our favourite Australian location and decorating apps will help you both before and after you move in.     Houzz Category: Interior design and renovation Buying a house is just the start. Once you moved in, you’re going to want to make it feel like home. If you’re looking for inspiration, Houzz is a one-stop interior design shop. Highlights include eye-popping photos, helpful articles, an online furniture store, community forums and recommendations for professional help. A wellspring of ideas, tips, recommendations and suggestions for turning your house into a home, Houzz has every room
43. money-saving SOS effective tips to help land that home loan

Money-saving SOS: Effective tips to help land that home loan

Looking to enter the property market and worried about how you’re going to secure your first home loan? It’s time to start making your money work for you so you can land that loan. Qualifying for a home loan isn’t always an easy path. Aggressive interest rates, competition in the market and less than rigorous saving habits can often push people out of the property game completely – but it shouldn’t. Saving enough money for a sufficient deposit is possible with the right guidance and plenty of diligence. Budget, budget, budget! It goes without saying that creating an airtight budget – and sticking to it – is key when you’re looking to save money for a home loan. If you’ve done your homework or
40. navigating your first home loan application

Navigating your first home loan application

Increase your chances of a fast approval with a well-prepared first home loan application. We show you how. Although applying for your first home loan may be the biggest financial decision you’ll make, it doesn’t need to be an overwhelming one. With the right preparation, a realistic understanding of your financial position and some professional guidance from a good mortgage broker, you can position yourself as an attractive first home loan customer and be approved in no time. Clean up your credit Before applying for your first home loan, make sure you are creditworthy in the eyes of a lender by obtaining a copy of your personal credit file. Your credit history will be a key factor that a lender will consider when deciding to
38. confused about home loan pre-approval follow these 4 steps

Confused about home loan pre-approvals? Follow these four steps.

Ready to buy a property? You’ll need to show the seller you have enough money. For most people, this will mean getting a loan, and the first step to getting one is obtaining pre-approval for it. Pre-approval – also known as conditional approval or approval in principle – is an indication from a lender as to how much you can borrow. If you have pre-approval, vendors and agents know you’re serious about buying. Here are the steps you need to follow. 1.Gather your financial information To get an idea of how much you can borrow, and therefore what you can afford to buy, you need to give the lender a comprehensive picture of your finances. This includes your income and assets, and your financial

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