Applying for a home loan can feel like a never-ending quest of supplying paperwork- statements, payslips, your grade 5 history class results… okay maybe not that one, but why do we ask for so much? And why do we ask for more after your initial meeting? Well there are a few phases to the process of getting a home loan, here we’ll explain why we need so much […]

If there’s one thing that banks love, it’s jargon (and if there’s one thing Lucy loves, it’s coffee). In the video below, we discuss both of those things! But mostly the jargon.   Wow, we went through a lot of topics. Here are the links to the other blogs and resources we discussed: Kirsty’s video on Lender’s Mortgage Insurance (LMI) The difference between redraw and offset Variable vs. […]

Are you looking to buy a new home but need a little extra time to sell your current property? Or perhaps you’ve found your dream home but need to act fast before someone else snatches it up? That’s where bridging finance comes in! If you have strong equity in your existing property you might be able to get bridging finance. A bridging loan is a short term loan […]

Kirsty steps through her best tips on how to choose an agent to sell your house.     For some tips on how to select a great property manager, see Kirsty’s video here.

We get this question a lot! Kirsty explains how the bank works out what your minimum repayments are going to be, and what they’re based on. Spoiler: if you pay extra into your redraw, your minimum repayments may not change (different banks behave differently) because they are based on the loan as a whole (unless your bank does it the other way!), but you won’t pay extra interest […]

As a finance broker each of our team at Up Loans are under compliance restrictions where they cannot submit an application to a bank that they do not feel will service (show borrowing capacity) and be approved. As such if you come to a team member at Up Loans with a contract that has been signed and we do not have a solid option for you we cannot […]

Oftentimes a client in a relationship will have owned a property prior to entering the relationship. When doing new lending the following are options for how that lending will impact the previous property:   Let’s say Jenny and Joe are in a relationship and Jenny owned her own house prior to meeting Joe. Now Jenny and Joe want to buy a house together.   Options for Jenny’s current […]

  Kirsty has recorded a quick video here answering a very commonly asked question about how savings / equity impacts on borrowing capacity. In effect they’re the two halves of borrowing. We need either equity and or savings AND the income in / out – but having equity / savings doesn’t necessarily give you extra borrowing capacity. Have a watch and ask any questions. Side note, this was […]

Every time we open up a new application with the bank, we have to prove that you are who we say you are (and not a robot) with an ID check of some description. Because we do a lot of our meetings via Zoom, we’ve found the most reliable way to do this is a screenshot of our initial call with you that shows your broker, you, and […]

Hello, First Home buying friends! We’re lucky enough to be able to help lots of first home buyer clients in our daily work, and there are a few questions that crop up pretty commonly. In the video below, Kirsty & Lucy chat about some common questions asked by first home buyers, plus share some things they wish they’d known when they were looking at purchasing a house for […]