Often lumped in together, these inspections provide very different information and are worth every cent. Don’t think you need one or the other. You need both, and each should be carried out by a suitably qualified and licensed expert. Often a building inspector is also qualified …
The Mortgage Registration Fee is a charge by the State or Territory land titles office to register the lender’s mortgage on the property’s title record, and is paid by the borrower in full at the time a loan is transacted. Should you default on your …
Lenders will require you to take out this rather costly insurance cover if they are lending you more than 80 per cent of the value of the property (or you have a Loan to Value Ratio (LVR) of more than 80%) …
Your loan itself may come with additional costs, including application fees, set-up fees and a property valuation. Depending on the type of loan, there may also be monthly account fees.
You will need a solicitor or conveyancer to handle the legal transfer of the property title and make the necessary searches. Legal fees can vary widely. You are entitled to a quote up front, and should always ask for one. The more complex the transaction …
This is a tough question to address without an understanding of your circumstances, For a first home a deposit of anywhere between 5% and 20% will be required, with the lower rate predicated upon Government assistance or grants. …
Equity is the value of an asset (e.g house, car) minus any debts attached to that asset. For a property, the equity would be the current market value of the property minus the balance of any loans attached to that property. …
You will often hear the terms Tier 1, Tier 2, and Tier 2 lenders used in the mortgage industry. There are hundreds of financial institutions that provide thousands of product variations, and wrapping your head around the most suitable lender or product is a minefield of information.
A mortgage manager is a type of mortgage broker that usually sources wholesale funds and packages their own products.
In most cases a financial planner will assist with establishing and maintaining the fund, and some accountants also specialise in the field. We have a number of trusted colleagues that we’ve dealt with in the past and we’d be happy to refer you onto somebody we know consistently delivers excellent results.
An Australian Credit Guide is a document that provides information on the rights and responsibilities of consumers and credit providers in Australia. It is provided to consumers by credit providers when they apply for credit or enter into a credit contract.
A Product Disclosure Statement (PDS) is a document that provides detailed information about a financial product, such as an investment, home loan or mortgage product, or insurance policy. It is designed to help potential investors or policyholders understand the features, risks, and costs associated with the product.
