Category Archives: Home Loans

The Smart Way to Borrow from the ‘Mum and Dad Bank’

Parents love their kids and want to help them out. Kids love being able to realise their dreams and their folks can be a big help. But sometimes ‘it’s complicated’.   With the property market moving further out of reach, flat wages and higher personal debt, financial stress is on the increase. And the risks…
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How Parents Can Help Their Kids Without Losing Their House

About one in five first home buyers last year were at least partly financed by their parents. According to the Sydney Morning Herald, that number had increased by four per cent in just a couple of years1. In the past, parents only had three ways to help their kids get on to the ‘property ladder’:…
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Understand Your Mortgage Risk

Imagine if your home loan interest rate climbed from the current average (around 4.5 per cent) to reach a long-term average of 7 per cent. In that case, almost half of Australian homeowners would find themselves under serious financial pressure, according to a recent report.1 In fact, if interest rates rose by as little as…
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Is It Time to Refinance Your Mortgage?

Once upon a time, back when workers had one or two jobs for their whole career, most people continued with their mortgage faithfully until they had paid it off. How things have changed! These days the average duration of a home loan in Australia is just 4-5 years before the mortgagee decides to refinance. Consider…
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Avoid these Common Refinancing Traps

Maybe you’re after lower repayments. Perhaps you dream of investing, using the equity in your home. There is no doubt that refinancing can offer a world of benefits as long as you avoid these common pitfalls. 1. Interest rate blindness A low interest rate can be so dazzling that it makes the mortgagee temporarily blind…
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Bad Credit Preventing You From Refinancing Your Home

The cost of having to sell your Home? If you have substantial debts you may have got to a stage where you now have bad credit and the bank wont let you Consolidate your debts. You may now be considering selling your home, with the intention to re-enter the market later. Take a look at the chart…
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Case Study: Self Employed Tax Bill Debt

Mark was self employed as a building Contractor. Unfortunately, Mark had a heart problem and was unable to work for 6 months. Mark spent the money he had put aside for tax during this period and now has a very large Tax bill. The rates and home loan have fallen behind and the credit cards…
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Case Study: When a Family member gets You in Debt

Michelle went guarantor for her Sons Business. Her son’s business has gone broke, now the Creditors are chasing mum for $157,000 and demanding full payment. They are threatening to move on Michelle's home. Michelle has her own cards and additional loans to pay as well, they total $29,000. Michelle's Home loan is down to $76,500…
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Home Loan Application Documents

What documents you need to apply for a loan. OK, you are ready to buy a home, you just need a mortgage. Before you go rushing off to meet with a Fast Debt Help representative, be sure that you have the documents on hand to prove your identity, income, assets and liabilities. Applying for a…
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Lenders and Home Loan Affordability

How Lenders work out your Home Loan Affordability Different lenders use different formulas to work out how much you can borrow, but the biggest loan isn’t always the best idea. Being able to secure your ideal loan amount can seem like a battle of balances. Step 1 is to work out your budget and finances…
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