When you take out a mortgage, many people forget to consider the associated fees and expenses. Here are some of the extra costs that you’ll need to consider when you take out a home loan. Home loan application fees Most lenders charge a home loan application fee. This can range from loan to loan, and covers: […]
One of the most common types of questions I get asked by first time borrowers is, how do banks assess loan applications? In order to decide whether or not to provide you with a loan, the bank / lenders will generally assess you against five qualities. Your ability to repay the loan. To establish your capacity the lender […]
Interest rates are a big factor in each repayment and the total cost over the life of a loan, so staying on top of your current rate as well as the interest trends across the market is essential. By staying on top of interest rates, borrowers can make informed decisions about choosing a first-time home […]
Before taking their property off the market, your vendor wants a deposit to ensure that you will settle, but your funds won’t be available until settlement. What do you do? Most vendors require property purchasers to pay a deposit ahead of settlement as a commitment to purchase the property. If a purchaser doesn’t have that […]
If you’re looking for a creative way to overcome being locked out of the property market by rising prices, buying a house with a group of friends may be a solution. It can also be a minefield though, so here’s how to avoid a blast. While the excitement of banding together in such a life-changing […]