With house and land packages there’s typically three options. Option 1. Where you pay for the entire house and land contract when the house is completed and you’re ready to move in. a) Most banks will not issue formal approval for a house and land package until the house is built and they can send a valuer out. Typically in these cases we recommend you put in a […]

Kirsty explains a rough estimate on how to calculate your equity or cash required for house #2! This is not financial advice not an accurate calculation it’s merely a rough estimate to use for future planning with a more detailed assessment to be provided by your broker.

Did you know there’s a way to get notified as soon as properties in your area are on the market? Watch the video below where Kirsty explains how to save a search on realestate.com.au and stay on top of new properties as the come on the market.

When you enter into a home loan you can typically borrow up to 95% of the property’s value (at a maximum). To do this we pay lender’s mortgage insurance typically – see: https://www.uploans.com.au/blog/2017/08/20/what-is-lenders-mortgage-insurance/ From there, until you get the amount you owe under 80% of the valuation any extra borrowings will incur LMI again and the bank will restrict how much you can borrow – typically to the […]

When looking at multiple properties there’s a tendency for a few things to happen based on your particular personality type. Let’s call this one Dory They all blend together and you can’t remember one from the next after you’ve been to 20 open homes!   Then there’s Goldilocks None are just quite right, one is too much this, one is too little that. You’re looking for the perfect […]

If you are a first home buyer purchasing in Tasmania under $500,000 then use the following link to get the form for your duty concession and request the folio / title details from your conveyancer or solicitor. https://www.sro.tas.gov.au/Documents/Section_46E_Concession_from_duty-Transfer_to_first_home_buyers_… Please return the completed form to both your solicitor/conveyancer and a copy to us so that we can end to the bank. Please note we cannot determine your eligibility for […]

Watch below as Kirsty explains why it’s sometimes important for you to have a conversation with your accountant, prepare your tax returns but do not lodge prior to coming back to your broker to discuss further.

Well – you’re thinking about getting pre-approved! That’s a great start and while a lot of other broking firms aren’t keen on pre-approvals. We are! Why? Because: Then you can be really competitive when going up against multiple offers which is common right now Then the bank has agreed that they are happy to lend to you with your circumstances and then the only variable is that they […]

On internet banking accounts you are able to personalise the name of your account, for example “Groceries” or “Holiday savings” – or better yet “Riverside investment property” “Equity release for Bridport” etc so it’s nice and clear. Here are some handy links compiled below explaining how to do this with different banks. (If you find the one you’re looking at is out of date or doesn’t work please just […]

When you’re building another property onto an existing property (ie: a unit on the back of a house) or when you’re building multiple properties on one title (3 units for example at once) you might find that the lender needs the valuer to value the properties “all in one line” – ie: as though they’re all on one title. Now this can sometimes be confusing to people as […]