Top Tips for First Home Buyers

Top Tips: 1. Know what you can afford There is no point in overextending yourself. Make sure that your loan repayment is within your means. Knowing what you are currently paying in rent and saving can help. 2. How much can you contribute? Obviously, the more that you can contribute, the better. But how much [...]

NSW First Home Buyers Grant Summary 2021

NSW First Home Buyers Grant Summary Are you confused about what grant(s) you can receive as a first home buyer in New South Wales? We have developed a quick summary below. Grants change regularly, so it is always a good idea to review the state government's website to confirm your eligibility or simply contact us. At [...]

Offset vs Redraw

You have no doubt heard words like ‘redraw facility' and ‘offset account' bandied around a lot.  But what are they and how do they differ? Offset accounts and redraw facilities are two home loan features that allow you to use any extra income or savings to reduce the balance of your loan and your interest [...]

Family Guarantee

Saving for a home loan deposit has become increasingly difficult in Australia’s cities. Why? In a nutshell, property prices continue to rise across most of the major metropolitan areas. In Sydney and Melbourne for example, property prices have risen by over 60% over the past several years. As a result, the deposit a first home [...]

What is Lenders Mortgage Insurance?

Lenders Mortgage Insurance (LMI) is an insurance that protects your lender in the event that you default on your loan. While this insurance doesn’t protect you as the borrower, LMI can help you get into the property market sooner rather than later. How? Simply put, Lenders Mortgage Insurance allows you to obtain finance from a [...]

What’s the right home loan deposit to have?

Many first home buyers struggle with knowing how much money they should have as a deposit. Fortunately, there are no hard and fast rules when it comes to home deposits. A summary of the list of grants that are available currently can be viewed here What lenders want Ideally, lenders would like you to have a [...]

Steps to buying your first home

So, you’ve made the decision to buy your first home. You’ve been saving hard and starting to dream about the possibilities of living in a place of your own and not having to pay rent. You’ve looked at places online more than a few times, and maybe even been to a few open houses. Now [...]

Do I need a pre-approval?

Are you in the market for a property? While buying a new home is an exciting experience, it can also prove very stressful, especially if you are competing for your dream home against a lot of other potential buyers. Thankfully, there are ways for you to get yourself ahead of the pack and lift your [...]

Buying at auction

Buying your home at an auction can be thrilling. It is critical that you are, firstly, well prepared for the auction and then understand the bidding process. BE PREPARED Arrange loan pre-approval Making a bid at auction without the certainty of loan finance is a very high-risk strategy. It makes more sense to secure loan [...]