Self Employed Income

Some things to note when looking at self employed borrowings and how banks calculate your borrowing capacity.

Read More | 17 May, 2021

Why you shouldn’t fall in love with… a Rural Resources Block

So many people these days come to Tasmania because as a state – we’re bloomin’ spectacular. Trees, greenery, awesome people, fabulous beaches, mountains… and did I mention trees? And Tassie has some awe-inspiring bush blocks. Many of them that seem to be at very very reasonable prices. And there’s a reason for that.  They’re very (very very) difficult to finance. My strong recommendation when you find a block […]

Read More | 10 May, 2021

Why is my brokers admin team contacting me!?

It is very likely that you have already, or will speak to multiple members of our team through the course of us getting your loan approved. Kirsty sees clients from 9am in the morning to 9:30pm at night. This doesn’t allow her much time to do the jobs in-between. We all know she’s a super star but she can’t do it all, and fortunately Kirsty is great at […]

Read More | 04 May, 2021

What to expect when your home loan is lodged with the bank

Hi, I’m Ella. One of the major components of my job is to call every lender we’re working with every day and chase updates on our active files for Kirsty. Each of our brokers has someone in my role doing just that. Why don’t they do it themselves? Well – Kirsty’s in with clients most days till 9.30pm and sometimes the wait to get through to a bank is measured […]

Read More | 27 Apr, 2021

House and Land Packages

With house and land packages there’s typically two options. Option 1. Where you pay for the land up front and then engage the builder to build you a house paying in progress payments for the build to the builder as per a normal building contract (see: https://www.uploans.com.au/stage1). You get one normal residential sale contract for the land and a second for the build (typically). In this case there are […]

Read More | 23 Apr, 2021

How much Cash or Equity do I need for my Next Purchase

Kirsty explains a rough estimate on how to calculate your equity or cash required for house #2! This is not financial advice not an accurate calculation it’s merely a rough estimate to use for future planning with a more detailed assessment to be provided by your broker.

Read More | 01 Apr, 2021

Borrowing extra funds over 80% of a property’s value

When you enter into a home loan you can typically borrow up to 95% of the property’s value (at a maximum). To do this we pay lender’s mortgage insurance typically – see: https://www.uploans.com.au/blog/2017/08/20/what-is-lenders-mortgage-insurance/ From there, until you get the amount you owe under 80% of the valuation any extra borrowings will incur LMI again and the bank will restrict how much you can borrow – typically to the […]

Read More | 17 Feb, 2021

Wants vs Needs

When looking at multiple properties there’s a tendency for a few things to happen based on your particular personality type. Let’s call this one Dory They all blend together and you can’t remember one from the next after you’ve been to 20 open homes!   Then there’s Goldilocks None are just quite right, one is too much this, one is too little that. You’re looking for the perfect […]

Read More | 10 Feb, 2021

If you are a Tasmanian first home buyer purchasing under $500,000:

If you are a first home buyer purchasing in Tasmania under $500,000 then use the following link to get the form for your duty concession and request the folio / title details from your conveyancer or solicitor. https://www.sro.tas.gov.au/Documents/Section_46E_Concession_from_duty-Transfer_to_first_home_buyers_… Please return the completed form to both your solicitor/conveyancer and a copy to us so that we can end to the bank. Please note we cannot determine your eligibility for […]

Read More | 09 Feb, 2021