Many people nowadays enjoy the idea of diversifying, and along with having their own home loan, they enjoy taking on other investment properties. Sometimes these investments can be purchased with a parent, relative or friend. An important thing to know, is that most banks will calculate that you are theoretically responsible for repaying the entire
Did you know that each bank has its own set of rules regarding savings requirements for different types of loans. Why does this matter you ask? If you are wanting to purchase an investment property and you approach one bank who needs a 10% “genuine savings” deposit then you will be turned down. The bank
Credit scoring is the term used to describe a complex system that many banks and both mortgage insurance companies have derived, to assist them to better decide whether they want to approve your loan. It is a highly complex system that no-one fully understands, apart from the developers of the system. And the banks and
Currently the first home owners grant includes a waiver of stamp duty for properties up to $550,000 that are newly constructed or never been lived in before. For properties between $550,000 to $650,000 a part waiver applies. For the before mentioned scenario, first home owners are currently eligible for a $15,000 grant from the government
