If you live rent free, say at home etc, most banks will still factor in a figure for your rental payments, even if you don’t have to make any! Weird right. You don’t pay rent, but the bank pretend you do – why is it so? Well, under responsible lending, the bank have to treat your situation as though it could be a worse case scenario. So let’s say you’re buying a block […]

Far out I talk fast in this video about options to buy a property before you’ve sold your last one! Here’s the options spelled out for you to refer to while I’m talking at rapid pace. Option 1. Sell first, and then hope you can find something to move into Option 2. Make an offer subject to sale. Option 3. With strong equity in your property you might […]

We often have clients coming to us with various scenarios for buying a house with a friend or family member that isn’t their spouse – have a look at Kirsty’s video for some key things to remember here:

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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]