Source: AFR 6/12/2017 Su-Lin Tan The proportion of first home buyers entering the market has risen strongly year to date after the introduction of stamp-duty concessions, marking the highest rise in four years, a survey by Bankwest says. Higher rates payable by investors and interest only borrowers have also helped tilt the market back toward the … Read more
As the owners of a 1932 Californian Bungalow this question has messed with our minds over the past few years. When we bought we assumed that we would knock down the back, do it up, make it all awesome and we would do that for a couple of hundred grand. We were wrong and we … Read more
There are many perks to working for yourself, but when it comes to applying for a home loan, it seems being your own boss sends up a red flag to banks and other lenders. Why? A salaried employee has a regular, steady income and is less likely to experience the cash flow volatility of a … Read more
Clients of mine who are first home buyers have saved a $50,000 deposit and are looking to buy a property for around $550,00. Given that their deposit is around 9% of their purchase price, they are required to pay Lenders Mortgage Insurance (LMI). Based on their deposit amount and property purchase price, the LMI is … Read more
As the population in our major cities continues to grow and with the centralisation of the workforce there is an increasing trend toward greater density of population and smaller households. What does this mean? It means where there used to be warehouses there are now blocks of apartments and where there used to be a … Read more
Whilst it is not a mandatory requirement for home buyers to seek a pre approval, doing so can make things considerably easier. So why might that be? 1) You get a clear and accurate price range Whilst you can use a borrowing calculator to work out your approximate buying power, different lenders have different requirements … Read more