I Know The Broker

You may have heard the terms credit score or credit report, but what do they actually mean and how will they affect you? It's important to understand your credit score, it can help you when applying for a home loan or credit card.

What's a credit score?

A credit score is a numerical assessment which shows your credit trustworthiness. Essentially, it is a su...

Money is a leading cause of stress in Australia. In fact, almost half of Australian adults list money as the leading cause of stress in their lives. Research has found that financial stress can happen to anyone, at any income level, and for those people who suffer prolonged levels of stress it can have lasting consequences on mental, emotional and physica...

An overwhelming majority of borrowers do not know their home loan rate, with 86 per cent of Australians also unaware of their monthly expenses, a new study has revealed.

The Know Your Number Index, commissioned by digital bank UBank, examined Australians’ knowledge of their household and entertainment expenses.

The study was conducted on an online...

In the analysis of a recent survey conducted by UMR Research and the HIA (Housing Industry Association), a massive 73% of potential first home buyers mistakenly believed they needed up to a 20% deposit and up to 50% believed they needed more than a 20% deposit.

Many others are also being held back fulfilling their dream of home ownership because they belie...

Did you know that the Australian Securities and Investment Commission recommends that for a “comfortable” retirement, a couple will need $60,000 a year, and a single $44,000?

That’s a total combined superannuation of $1.24 million for a couple or $880,000 for a single. However, the average Australian retires with $320,0000 in their super, which is less tha...

The end of financial year has been and gone and I hope you all survived it! And what a year it was for anyone with a home or investment loan and certainly for those thinking about entering the market.

We have seen some banks exit the investment market completely, others no longer accepting refinances and others who just seem to continuously increase t...

Asking how long it takes to get a loan approved is like asking how long a piece of string is. Every application is unique, so the time between your first contact with your bank or broker and approval can never be predetermined. There are, however, some things you can do to help hurry your application along.

Although very rare, same-day loan approvals are p...

But, insert( Mum, Dad, Friend, Neighbour): said we wouldn’t be able to get a loan. Generally speaking this advice is given with the best intentions but not always is it given with a full understanding of the process of getting into your first home.

SNAPSHOT - Mel and Dan

• Both had full time jobs

• They had a credit card each

• They had one personal...

CASE STUDY

Investors How LMI can give you a head start?

Brad, a registered nurse, bought his first home five years ago. Having a penchant for carpentry, he got quickly into making the run-down timber bungalow a home—and adding significant value to the property.

CASE STUDY Since completing this project, Brad had searched for an apartment suitable for renovati...

Deposit – The banks will ask a few questions around this. They want detail on where it came from. Did you save it, sell something, tax return or was it a gift? How long have you been saving it for? If you didn’t save it, do you have to repay it? Genuine savings versus non-genuine? Different banks have different policies with varying criteria on what const...