What is an Ethical Lender?

At Up Loans we have noticed that more of our clients are becoming more concerned as to how banks/lenders are using their funds and investing their money. In our conversations with many clients, we are being asked about Ethical Lenders, and while some may giggle at the idea that banks may be considered ethical – there actually are lenders that are making more ethical decisions in their choices of where to invest. What is an Ethical Lender? Put simply, […]

Read More | 08 Jul, 2020

What do you mean my credit card with nothing owing is a liability?

That’s right, in the eyes of a bank, any liability you have – like a credit card, afterpay (https://www.uploans.com.au/blog/2019/08/16/afterpay/) or interest free card will be treated in the most risk averse way.  What that means for your credit card is: –       If you have a credit card with say a $15,000 limit and you’ve never spent a single cent on it: the bank will treat this as though you owe $15,000 […]

Read More | 20 May, 2020

I want to buy a car – which way should I go about it?

There are a number of ways of going about buying a car, here’s a bit of pre-reading for you. First let’s be clear that the below information is relating to buying a car where there will be no taxable benefit (ie: a car for your personal not business use). If you’re not sure, chat with your accountant and get their best way to go about doing the borrowings.  First thing […]

Read More | 07 May, 2020

How to set a fancy Zoom background / AKA how to survive endless zoom meetings with your sense of humour in tact in the Coronavirus age.

Step 1. Click on the video icon in the bottom left hand section and then little upwards arrow next to it and select “choose virtual background”. Step 2 You may have some pre-populated images in there you can use, or you can use the little plus button (see under the Tiger King’s groin in image 2) to add your own images or video. Next level mastery tip we […]

Read More | 15 Apr, 2020

What’s the value in a lower interest rate?

A lot of our day is spent working through comparisons  for our clients about whether to stay with their current lender or move to a new lender.  Here is an example of what we do, at no cost to you. Our clients, let’s call them Jane and Jack are with Lender A, Lender A has them on a 3.5% interest rate and won’t renegotiate their interest rate for […]

Read More | 09 Apr, 2020

Things to be careful of when buying a unit, flat or apartment.

There are so many pros to buying something smaller and more compact. Let’s talk less cleaning for starters as well as hopefully lower maintenance over time. There might also be the social aspect of being closer to others or closer into town. Then there are some complexes which have shared facilities (like gyms, or pools, or tennis courts).  But – there are number of things you want to […]

Read More | 07 Apr, 2020

What happens if my valuation falls short?

Most of the time when you purchase a property the valuer is merely trying to ascertain (through previous sold settled properties) that what you’ve paid is fair.  You pay $285,000 the valuation will (most likely) come back at $285,000. You pay $666,666 the valuation will (surprisingly) come back at exactly $666,666! But sometimes the valuation can fall short of the mark and here you’ve got a few options: 1.     Accept the lower valuation and either contribute more […]

Read More | 18 Mar, 2020

Valuations explained

There are two main types of valuations: Onsite valuations. Where a valuer will go to the property to inspect it (here’s a little article on what to expect from the valuer when they perform their onsite inspection: https://www.uploans.com.au/blog/2017/06/03/what-to-do-when-a-valuer-is-coming/)  Type 1.  Where there is a contract of sale. Usually you’re purchasing a property from someone who is not a relative. You might be using a real estate agent or dealing […]

Read More | 13 Mar, 2020

Will my pre-approval work for a new build as well?

Woohoo – you’re all pre-approved, awesome, you’ve made the first step towards getting ready to buy.  Quite often however we get clients who can’t find what they’re looking for so they’ll edge towards building instead of buying something existing and that’s fine! Most lenders are equally agreeable to build as they would be a purchase of an existing home, but here are some things to remember: Double check with […]

Read More | 06 Dec, 2019

How on earth are you going to save to buy your first house?

You betcha! If potatoes can become vodka (or gnocchi, or fries from the land of France), and cauliflower can become pizza, and caterpillars become butterflies, tadpoles become frogs, these tiny slugs (see below) can become giant pandas and a chameleon can pretty much become anything – you my friend can become a home owner.  I think it’s best to start an article on savings in the words of […]

Read More | 03 Sep, 2019