Navigating the world of mortgages can feel like learning a new language. There are so many terms and processes involved! To help simplify things, let's break down the ABCDs (and beyond!) of mortgage broking, giving you a clearer picture of what to expect.
Your budget should be based off your take home income, from your base pay–if you receive overtime or allowances try not to include this.
Being a homeowner, you'll now have new bills to pay that you’ve never had before. So, in your homeowner budget be sure to consider; internet, gas, electricity, council rates, body corporate fees, building insurance, transport costs (tolls, petrol, car service, rego) and the big one in these hard times…. FOOD!!
Before applying for a home loan, you need to prove 3 months of genuine savings.
What exactly are “Genuine Savings” , it’s pretty simple, but also not that simple.
To make things a bit clearer, in this post, we’ve listed what a Bank will consider genuine savings; what are acceptable sources to verify genuine savings; and what will not be an acceptable source. Read on to demystify…
With property prices pushed to new highs by cashed-up buyers armed with ample deposits, increased borrowing power and boosted by record-low interest rates, where does that leave those on the outer?
How can you possibly compete, you ask?
Save! Save! Save!
Don’t let the creeping prices put you off. In fact, “now” has always been a great time to enter the market. And saving money is the most effective way of boosting your chances. All is not lost.
Putting more money into a deposit you can really shift your capabilities, and it literally costs nothing to try!
Here are some of the practical ways you can save or boost your borrowing power, starting today…
It’s safe to assume that our standard of living, health and family are important to us. However, there are certain events, such as serious illness or injury, which can put your home, lifestyle and future plans at risk.
What’s your back up plan? If you haven't got a clear plan, you're not alone. People don't even like to think about it – even though they need to.
To make her grandmother happy and just to see if she would get in, Dr Melanie Van Twest applied for medical school at 35 years of age. And she did!
In 2000, the now 55-yr-old pivoted from over a decade of job-hopping to a solid, financially secure career in medicine. Her current role as part of the COVID contact tracing team is an incredible leap from where she saw herself in her twenties. A whimsical decision (her words) at 35, set her up for a lifetime of financial independence. And this is what inspired me to speak to Melanie as part of my Women in Finance series.
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