Tag: mortgage broker

How Much Deposit Do I Need To Buy a House In Australia?
Investing, Lender features, Loan, Mortgage, Property | March 1, 2015
How Much Deposit Do I Need To Buy a House In Australia?

It is commonly accepted that to avoid paying Lenders Mortgage Insurance (LMI) on a home loan you must contribute a minimum 20% deposit of the property’s purchase price. A deposit of 20% equates to an Loan to Value Ratio (LVR) of 80%. If your loan is above 80% LVR then in most cases (for example Medical professionals/graduates can borrow up…

What Is LMI (Lender's Mortgage Insurance) In Australia
Business, Lender features, Loan, Mortgage | February 17, 2015
What Is LMI (Lender’s Mortgage Insurance) In Australia

What Is LMI in Australia? Lender’s Mortgage Insurance (LMI) is a type of insurance that is used to protect financial institutions and lenders against financial loss when a borrower defaults on a loan and can not pay it back. LMI covers the Lender/Bank against the shortfall that may arise if the following sale of the security property does not cover…

What Does LVR Stand For In a Home Loan?
Business, Lender features, Loan, Mortgage | February 12, 2015
What Does LVR Stand For In a Home Loan?

LVR stands for Loan to Value Ratio. It is the percentage of money that you intend to borrow compared to the overall value of the property. To work out the LVR, divide the amount you are borrowing into the value of the property e.g. It can be calculated using the simple formula: (Property Value – Deposit)/Property Value x 100% The…

How To Get Your Small Business Out Of Debt
Business, Lender features, Loan, Mortgage | January 17, 2015
How To Get Your Small Business Out Of Debt

Does your SME have an outstanding business debt or ATO tax debt? We can refinance business debt up to 80% LVR (loan to value ratio) at residential home loan rates. Cash out for working capital is acceptable up to 80% LVR at residential rates. You can also purchase a business/commercial building with a residential dwelling as a security at up…

Should I Use a Mortgage Broker or a Direct Lender
Lender features, Loan, Mortgage | January 15, 2015
Should I Use a Mortgage Broker or a Direct Lender

The Australian finance industry is one of the most sophisticated, innovated and regulated in the world. It is one of the safest since ASIC (Australian Securities and Investment Commission) introduced new uniform consumer credit laws know as NCCP to protect and inform consumers. Mortgage brokers will get paid a percentage of the total loan amount (from the bank or lender)…

How Do I Check My Credit Rating Online?
Business, Loan, Mortgage, Technology | September 21, 2014
How Do I Check My Credit Rating Online?

You can get a free credit score check to avoid any nasty surprises if you are considering vehicle finance or a mortgage. It takes about 60 seconds and won’t negatively impact your credit score. GetCreditScore.com.au is a new website that was launched by Veda and peer-to-peer lending platform SocietyOne. The new website allows Aussies to access their VedaScore by entering…

Chattel Mortgage Tax Benefits
Asset Equipment Finance, Business, Lender features, Loan, Mortgage | August 15, 2014
Chattel Mortgage Tax Benefits

Chattel mortgage provides finance for companies, trusts and businesses to purchase goods that are used within the business; such as motor vehicles, trucks, earthmoving, industrial plant and professional equipment. The asset must be for business use more than 50% of the time. Tax Implications of Chattel Mortgage This product is a means of minimising capital expenditure for your business, allowing…

Solar Panel Finance Options May Be Available
Asset Equipment Finance, Business, Lender features, Loan, Mortgage, Technology | August 8, 2014
Solar Panel Finance Options May Be Available

Could solar panel finance options help my business perform better? Australia’s and the world’s energy landscapes are evolving. As the price of power is continuing to rise, smarter businesses are looking at alternative strategies to lower their energy usage and cost. A great solution is in the investment of renewable and green energy sources that can generate significant savings and…

The difference between an offset account and a redraw facility
Lender features, Mortgage | August 5, 2014
The difference between an offset account and a redraw facility

Understanding the difference between Redraw vs Offset accounts in Property Investment The arena of property investment is filled with intricate mechanisms, two of which are redraws and offsets. These financial tools, related to mortgage loans, can often be a source of confusion. To shed light on this topic, we delve into the essentials of these mechanisms and their potential impacts…