How redraw works and why it’s a handy loan feature

It’s one of the less glamorous home loan features, but the redraw facility deserves a second look. Here’s why: The redraw facility explained A redraw facility lets you make additional repayments to reduce your variable rate home loan balance and save on interest. If you pay more than your minimum scheduled repayments, then you’ll have… Read more about How redraw works and why it’s a handy loan feature

What you can borrow or what you should borrow?

The amount you can borrow and the amount you should borrow are sometimes two very different things. Before you apply for a home loan, it makes sense to realistically assess your financial situation. Here’s how to do it. Understand your borrowing capacity Generally speaking, your borrowing capacity – what you can borrow – depends on… Read more about What you can borrow or what you should borrow?

Did you know….. about non-bank lenders?

Deciding where to go for your home loan is one of the most important decisions you’ll make. While many prospective property owners will choose to use a mainstream lender, non-bank lenders also have their advantages. What are non-bank lenders? Essentially, a non-bank lender is a lender that’s not a bank, credit union or building society.… Read more about Did you know….. about non-bank lenders?

Borrowing money for renovations: What you need to know.

You’ve been dreaming of that new kitchen and dining room for as long as you can remember, and now the time has come to put your plans in motion. But do you really have the budget to afford the works? Here are a few things to think about before making the leap from Pinterest board… Read more about Borrowing money for renovations: What you need to know.

Three questions to ask before you refinance

The home loan market is constantly changing, with new and attractive deals coming up all the time. Refinancing can help you secure a more competitive interest rate, access the equity in your home, add features (such as an offset account) or consolidate your debts, but there are some important questions to consider before you get… Read more about Three questions to ask before you refinance

How do I know I’m getting a good deal from my lender?

With so many products offered by various lenders, it can be quite perplexing trying to figure out whether or not you’ve scored yourself a good deal on your home loan. While doing your research and comparing what’s out there in the market is one of the most obvious ways to find out whether you’re sitting… Read more about How do I know I’m getting a good deal from my lender?

Easy refinancing for a better deal on your home loan

While refinancing your home loan may seem overwhelming at first, it’s less complicated than you might think. With historically low interest rates and increased competition across the home loan industry, lenders are keen to get your business. When you first took out a home loan, you probably paid very close attention to interest rates. Over… Read more about Easy refinancing for a better deal on your home loan

What you need to know about refinancing

A home loan is generally a long-term proposition, but in some situations it can make sense to refinance your mortgage. Read this guide to the refinancing process, and speak to a mortgage broker, before deciding whether it’s right for you. Refinancing involves taking out a new mortgage and using those funds to pay off your… Read more about What you need to know about refinancing

Refinancing could save you thousands – and give you greater flexibility

It’s often said that Australians are more likely to divorce their spouse than switch banks. But with plenty of competition in the home loan sector, refinancing can be a good move. You might want to refinance for a number of reasons – you can consolidate debt from high-interest credit cards into a home loan with… Read more about Refinancing could save you thousands – and give you greater flexibility