The State Government recommended making stamp duty optional for property purchases as part of the New South Wales recent Budget.
In today’s market it’s quite common to apply for a home loan separately in individual names while you’re married or in a defector relationship, not just that, there is an increasing number of Australians opt to purchase through a co-ownership arrangement with their family or friends.
It’s a term used by lenders to describe the funds you have gradually saved over a period of time (3months in most cases).
LVR refers to your loan amount and how much you want to borrow compared to your property’s value.
In simple terms, when it comes to home mortgage refinance, you’re basically replacing the total current mortgage on your property with a brand new one and preferably one with lower interest.
Maybe you’ve been in a similar situation. You took out a mortgage, and you’ve been steadily paying it out, and you suddenly start receiving invites from lenders asking you to take another mortgage.
If you’re planning on renovating or buying a new home, you’ll need quite a lot of resources.
When you’re looking for a home loan, there are a plethora of factors that can affect your application, such as age, occupation, and income.
From 1st July 2020, mortgage brokers will be subjected to a “best interests’ duty,” prioritizing consumer interests over their own.
If you’re an Aussie, even if you live or work abroad, there’s a high possibility that you still call Australia your home.