Property investing checklist Investing in property, such as residential real estate, is likely to be a lengthy process and one that usually involves a long-term plan. To ensure you have considered what is required before making the big purchase, we’ve outlined steps...
What is the cash rate and how could it impact me? The cash rate can have a significant impact on home loan repayments. When interest rates are low, it can make it easier for people to buy a home or refinance their existing mortgage, as their repayments will be lower....
What is lenders mortgage insurance? (LMI) Lenders Mortgage Insurance, or LMI, is designed to protect the lender, not the borrower, in case the borrower defaults on their loan (i.e. can no longer make their repayments). If the borrower defaults, the lender can...
What is interest only? Interest Only Repayments Home loan repayments are generally made up of two components: the principal (your loan balance) and the interest (the amount you’re charged on the outstanding loan balance). ‘Interest only’ means you pay only the...
What is a fixed rate? A fixed rate loan allows you to lock your interest rate in for a period of time. This means that your repayments will be the same for the fixed term you choose and you’ll be protected against any interest rate increases during this period of...
What is a family guarantee? Guarantor Home Loan – Can my family help? A guarantor allows you to purchase a property sooner and potentially save thousands of dollars. By using the equity they’ve built up in an existing property, a guarantor can help you to...
