Archive for Category: Finance

Finance house building in Brisbane

Unravelling the mystery of a credit file

Credit files remain a bit of a mystery to most consumers. So I’ve asked three experts to lift the lid on some of their insider secrets you won’t hear anywhere else. I have a credit record? Huh? Heidi Armstrong, State Custodians Mortgage Company: A lot of first home buyers...

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What is a property valuation?

What is a property valuation?

It may seem like yet another expense, but a property valuation could also be a necessity for your successful real estate purchase. Benefiting the buyer and seller, a property valuation can help you to assess the current value of a property in an open and competitive real estate market....

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Finance house building in Brisbane

What is LVR (Loan to Value Ratio)?

LVR is an acronym you’ll see a lot in property news, reports and documents and is used throughout the property industry. But what does it mean? It’s also seen as LTV Ratio – Loan to Value Ratio. What is LVR? LVR is the proportion of money you borrow (loan)...

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Lenders Mortgage Insurance

What is LMI (Lenders mortgage insurance)?

LMI is a fee charged by finance lenders. It’s generally charged when you have a deposit which is less than 20% of your property’s purchase price. If you have a 10% deposit on a property of $500,000, LMI is approximately $7,920*. As the purchaser, you need to make sure you’re happy...

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How do people save their first home deposit?

How do people save their first home deposit?

Coming up with a deposit for your first property can be a slog. With banks particularly cautious in this post-global financial crisis lending climate, buyers often need access to funds worth 10%-20% of the home purchase price to convince a lender to chip in the rest. And that means...

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Perfect time to a pay little extra on the mortgage

Perfect time to a pay little extra on the mortgage

Paying a little extra on your home loan? Perhaps you should consider it. Record low interest rates are giving Australian home owners the best opportunity in decades to get ahead on mortgage payments, for those who have funds available. According to Smartline Personal Mortgage Advisers, paying an extra $100 a...

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Gap widens between house & units in Brisbane

What is a reverse mortgage?

A reverse mortgage is the opposite of a traditional home loan: the longer you have it, the bigger it gets. Say what? According to the Australian Securities and Investments Commission, it’s “a complex product that can have a significant impact on your finances and relationships, and your quality of life...

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What’s going to happen with interest rates?

What’s going to happen with interest rates?

What will the Reserve Bank of Australia decide to do with interest rates when it meets on Tuesday? In previous months the RBA has suggested rates are likely to remain on hold for some time. Why inflation matters Recent Australian Bureau of Statistics data puts Australia’s inflation rate at...

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