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 […]

The loan amount recommended by your broker for your application may differ slightly from your own estimate of how much to borrow . People are frequently surprised by this, but we assure you that there is a method to the madness! Watch the below video where Kirsty explains why we calculate loan amounts the way we do. https://youtu.be/qwQWgJi9pNk

  Hey there First-Home-Buyer-To-Be (or Savvy-Saver, we don’t discriminate),   How good is that feeling of finding a ten dollar note in the pocket of some pants you haven’t worn in a while? What if the internet could search your pockets for you to find that cash? Good news. It can! (Sort of – they won’t actually search your pants pockets, that would be creepy). The MoneySmart website has a […]

Have you checked your payslip to see if you’re paying any extra tax, either deliberately or as a hangover from your HECS/HELP debts or your salary sacrifice? Kirsty has some advice on what extra tax deductions on your payslip can do to affect your home loan application.     Related watching: Advice on the Home Loan Super Saver Scheme

With the recent interest rate rises, we’ve been getting a lot of clients reaching out to ask about fixing their home loans! We have a pretty simple tip here to help you ‘fix’ it yourself if you’re thinking that a fixed rate could be the way to go for you. It’s easier than you think, and it doesn’t require any fees… sounds good right? Have a look at […]