Posted in Mortgages and Finance

With such high rents and property prices, it may difficult to purchase a property, but in some cases your family may be able to help, without having to actually give you any money. Mortgage Insurance Most mortgage lenders will offer mortgage-insured products, but usually a minimum deposit of 5% of the property purchase price is required. An median-price house may cost between $400-$500,000, which means you would need to have saved at least $20-$25,000, plus the mortgage insuran...

It may be possible for your to reduce your Finance Repayments by using the GST you've paid on the vehicle or equipment purchase. Consider this scenario: You purchase a new vehicle for $50,000 + GST ($5,000) You Finance the entire $55,0000 (purchase price, including GST) You estimate you will receive $5,000 GST refund in the next BAS (the GST you just paid on the vehicle) You structure the Finance to include a $5,000 payment after the BAS refund is due ...

It's a finance-industry term referring to the income evidence required by a lender (mortgage or finance) to prove your ability to repay the loan. Do You Need to be Earning Income? Yes. Th common misconception about Lo-Doc loans is that you don't need to be earning income. You need to be earning income, but you may not necessarily have to prove your income. A standard loan application will ask you to provide proof of your income (e.g. Tax Returns, Company Profit and Loss...

PPSR stands for Personal Property Security Register. The PPSR commenced 30 January 2012, and replaced the Motor Vehicle Security Register (MVSR). What Does It Do? Here's the best summary I've seen: The PPS Register is a notice board which allows individuals and organisations to search and register security interests in personal property. Effectively, the PPSR is used to record all interests on personal property (e.g. Finance), so you can check the property you are buyin...

With interest rates at historical lows, it may be worth considering whether or not you should fix it. At least one of our lenders is offering a 5.49% fixed rate for 5 years - that's low. Following are some guidelines, which may help you decide: Are You on a Tight Budget? If you're on a tight budget, fixing your interest rate will at least give you peace of mind, knowing your repayments won't change during the fixed rate period. Do You Expect Any Changes in Your ...