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 […]

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 […]

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 […]

Whenever you’re going to put in an offer on a property, especially your first home, but really any home at any time, the desire to know that you’re not paying too much is really really strong. If you love a property you don’t want to miss out, but you also don’t want to pay too much. We get it!  Unfortunately even though a number of our team members […]

How does this differ from purchasing through a real estate agent? Great question, and in most ways it won’t differ at all. Read through this blog to get started: https://www.uploans.com.au/blog/2018/12/19/backtobasics/ Remembering that two key points are: Get us to do some research for you (email us the property address) It’s GREAT if you’re already pre-approved, if not a 21 day finance clause is advisable Now the part where […]

When it comes to debt, the unfortunately reality is – the worse it is for you, usually the easier it is to get! Credit cards, interest free, afterpay, zip pay, personal loans – all typically quite easy to get, all used to buy things which go down in value and they all can impact your ability to get a home loan and your credit score.  Things to be […]

Typical conditions include:  Finance Building inspection Sale of another property Due diligence But there can be many others as well.  Unconditional effectively means – you have no other conditions and you are confirming you are going to purchase the property.  Our job as your brokers is to get you an unconditional finance approval and that process typically starts with a pre-approval (where time is pending) and then a […]

When you own one property with a significant amount of equity, there is often a way to use that equity to purchase a second (or third or fourth etc), and there are two main ways to go about doing this – cross collateralising and stand alone securities. You can have a watch of this video Kirsty has made that steps through how this all works, and also see […]

When a bank assesses your ability to repay a mortgage the assessment rate it’s higher than the actual interest rate. So for example, if your home loan interest rate is 4.00% the bank may be looking to see if you can repay 7.25% or even 8%! Now what that means for the bank, is that they are being conservative and also allowing for interest rates to rise (which […]

After your valuation is done the next stage is to apply for your finance. This follows a pretty standard procedure and your broker will step you through this. Allow 2 weeks after your valuation has been completed for the approval, and then another week for documents to be delivered to you, signed and returned. All up 3-4 weeks should be ample, but keep this in mind when chatting […]