By Shane | Uncategorized
A third-party to a home loan is called a guarantor, which helps you get a loan by offering additional security support. Generally, guarantors are limited to spouses or immediate family members. A home loan guarantor can be your helping hand to buying your dream home. Many lenders will allow you to obtain a home loan given that your spouse or family member will help you buy by providing additional security support.Continue reading
By Shane | Uncategorized
Refinancing refers to the process of paying out your current home loan, either with your existing lender or through a different lender. You can get a lower interest rate and reduce your monthly repayments or you could fix your rate for certain period and have the security of fixed monthly repayments. If you would like to refinance your loan, below is a step-by-step guide.Continue reading
By Shane | Uncategorized
Are you looking to save money by reducing the balance of your home loan? A redraw facility is a useful tool that could help you pay off your mortgage sooner if used wisely. A redraw facility is offered by a large percentage of home loans– so how does it work, and how can it help save you money? Continue reading
By Shane | Uncategorized
On the first Tuesday of every month (except January) the Reserve Bank of Australia meet to make a decision on the cash rate. Depending on the economic conditions, the RBA may increase, decrease or leave the cash rate unchanged. Changes to the cash rate will affect the interest rate that banks and lenders will offer to borrowers.Continue reading