powering smart financial decisions

What's the difference between banks and non-bank lenders?

Banks, credit unions and building societies are all vying for Australian home loan borrowers business, but which one is best?

When do you start paying off your mortgage?

Once your mortgage is in place, you need to make repayments every month. When should you start repaying your mortgage? 

A guide to mortgage and divorce

From coming to terms with the end of your relationship to dealing with parenting and living arrangements, divorce is difficult. And if you hold a joint mortgage with your spouse, it can further complicate matters. Here are the different options available after your divorce.

How to apply for a home loan

The exact process of applying for a home loan may depend on the mortgage lender you choose, as well as your own personal and financial situation.

How to negotiate a better home loan rate

If you don't ask you don't get. If you are unhappy with your current home loan it's perfectly acceptable to approach your lender and ask for a better rate.

What is home loan serviceability?

Home loan serviceability refers to your ability to repay a loan, and affects the amount you may be able to borrow from a lender.

How can I pay off my parents' mortgage?

If your parents are struggling to repay the mortgage on their house, you could step in to ease the burden by paying on their behalf or assuming the title to the property and refinancing it.

Can you borrow 100 per cent of a home loan?

Most lenders need you to pay a deposit of at least 20 per cent of the purchase price before approving a home loan. This can take several years to save up. A 100 per cent mortgage doesn't require any deposit. However, these are not readily available and generally require a guarantor.

Is it possible to borrow money from family for a mortgage?

If you’re struggling to put together a deposit worth thousands of dollars for a home loan, a family member could help by contributing a portion of the deposit. For instance, it’s not uncommon for parents to help their children get on the property ladder by giving them a lump sum amount to meet the minimum deposit criteria for a home loan. There are several other ways in which you can borrow money from your family for a mortgage.

How to pay your mortgage while on maternity leave

It’s common for new mothers to take a break from work to take care of their newborn baby. How will you manage mortgage repayments if your income reduces? Here’s how you can plan for this situation.