Loan

Paying off a home loan early can lift a significant financial load off your shoulders and may save you money in the long run. Here are proven ways you can free yourself from financial debt faster. Why pay off your mortgage faster? You can enjoy the freedom of being debt-free faster by boosting repayments early, […]

If you’ve owned a property for a while and paid down a portion of your loan, you might wonder how much equity it currently holds. Understanding your property’s current equity is crucial. It enables you to budget and estimate whether you have enough equity you can leverage to renovate, invest in a new property, or […]

When buying a home, you must consider all the potential hidden costs, including stamp duty, processing & conveyancing costs, and registration fees. Knowing all the costs involved can help you plan and develop a better budgeting strategy to save up. Here are 10 common home buying costs you need to know apart from your deposit. […]

When investing in a property, you often first consider the return on its investment. This is known as rental yield in real estate investment and is crucial when determining which properties and suburbs are worth investing in. Read on to discover what rental yield is, how to leverage it, what makes a good rental yield […]

When applying for a home loan, banks and non-bank lenders may require self-employed applicants and business owners to provide an accountant’s letter explaining any queries. What banks look for in an accountant’s letter Your accountant’s letter should have the following to be considered valid and acceptable: Your accountant’s company letterhead indicates the firm’s Australian Business Number (ABN). […]

Your recent payslips are essential in giving banks accurate information about your current financial situation.  Here is everything you need to know about which types of payslips are accepted by most banks and how you can go around should your payslips not meet the standard eligibility requirements: Why do lenders require payslips? Banks and non-bank […]

When applying for a home loan, banks may require you to provide an explanation letter to clarify a credit issue in the past. If you have been required to send one and don’t know where to start, we brought together default explanation letter templates to get you started. Why do banks need a letter about […]

During a home loan application, your bank or non-bank lender will require you to submit documents that verify or describe your income and current financial situation. That includes documents such as: Bank statements Payslips and other proof of income Details on existing loans or monthly credit payments, among others Lenders would review and assess these documents […]

To assess your creditworthiness, banks will request & verify your assets and liabilities. But what do banks consider as assets and liabilities? Assets may include superannuation, cars, savings, shares and any real estate you own. On the other hand, your credit card debts, personal loans, HECS or HELP debts, home loans, or vehicle loans count […]

Your credit history, credit enquiries & repayment history determine your credit score, which is sometimes referred to as your credit rating. A credit report includes your identity information, such as your name, date of birth, residence, and employer. It also contains information about any loans or obligations you have, whether current or old and your […]