What is a line of credit?
Equity is the value of your property, less any outstanding debt against it. For example, if you have a $500,000 property and a $300,000 mortgage against the property, then you have $200,000 equity. This is the portion of the property that you actually own.
This type of loan is a flexible mortgage that allows you to draw on funds when you need them, similar to a credit card.
A failure to follow all or part of a contract or breaking the conditions of a contract without any legal excuse. A breach of contract can be material, minor, actual or anticipatory, depending on the severity of the breaches and their material impact.
The mortgage market changes constantly. Every week, new products get launched and existing products get tweaked. Yet many ratings and awards systems rank products annually or biannually.
We update our product data as soon as possible when lenders make changes, so if a bank hikes its interest rates or changes its product, the system will quickly re-evaluate it.
Nobody wants to read a weather forecast that is six months old, and the same is true for home loan comparisons.
Popularly known as the loan term, the amortisation period is the time over which the borrower must pay back both the loan’s principal and interest. It is usually determined during the application approval process.
The increase or decrease in the value of a property due to factors including inflation, demand and political stability.
Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.
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2 Year Fixed With Wealth Package Owner Occupier P&I $150k+
Fixed - 2 years
special$2,000 cashback for refinancers who apply before 3 August 2020 and have their loan funded by 9 October 2020. Minimum refinance amount $250,000. Eligibility criteria applies.