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What will it cost to refinance my home loan? It’s a good idea to review your home loan each year to assess whether it continues to meet your needs and offers the best value for money. You might find refinancing your mortgage will save you money, help you streamline debt,
How to get a home loan when you’re self-employed? If you’re one of the two million Australians who is self-employed, you may be worried about your chances of securing a home loan. But while lenders are generally more cautious about offering mortgages to the self-employed than those on a regular
Why choose a mortgage broker over a bank? Mortgage brokers Melbourne or home loan brokers as they’re sometimes known are becoming increasingly popular with Australian borrowers. In fact, these days, they write more than 50% of all home loans. Here we look at some of the reasons why enlisting the
How to help your kids buy property in Melbourne Buying property in Melbourne is harder for young people than ever before. At the end of 2017, the median house price in Melbourne was a staggering $821,000. That’s more than 10 times our average annual full-time salary. What’s more, the 14th
The types of mortgages and home loans in Australia With house prices at record highs, these days, getting a home loan is essential for most Australians looking to buy a new home. There are hundreds of home loans out there. And choosing the best loan for your circumstances can be
Over the past month, we’ve seen a lot of changes in the rates and compliance areas. Some lenders have tightened the investor-lending market, which has affected auction results through some capital cities. Although investor activity has been affected, first home buyer activities have increased. Mel Finance are committed to educating
The home loan application process is notorious for its complexity and tediousness. To make the process smoother for yourself, there are several tips and tricks you can employ, getting you closer to your dream home in Melbourne, faster! Of course, the basics go without saying, such as proof of identification
Where you choose to get your home loan from can affect the type of loan you get, meaning it’s important to think the decision through carefully. While many people turn to their bank for a loan, bear in mind that non-bank lenders might be a viable choice for you. What
The lending market is saturated with options, making it difficult to determine whether your home loan is the best deal for you. Comparing your options is always smart, but can quickly become an arduous task, given how much information there is to sift through. A great way to get around
When it comes to buying your first home in Melbourne, any bit of help you can get regarding your home loan is definitely welcome. What many people don’t know is that their profession may actually allow them to save money on their mortgage. This is bound to be welcome news
When purchasing an investment property, there are a number of factors that could increase or reduce your potential return on investment. In this case it’s not just location, the number of rental properties are available in the suburb or street that you are intended to purchase. Rental yield, capital growth,
When selling one property and purchasing another, the funds from the sale may not be available in time to use for the purchase deposit. There are typically two options in this scenario: a bridging loan and a deposit bond. Bridging loan A bridging loan is a short-term home loan designed
When you think about a mortgage, majority of customers start to find out resource via online or social media. While you research about your requirement, you will find many advertisements pop up and distract. If you search about mortgages, you will se many ads from both major lenders and non-major
“Risk comes from not knowing what you’re doing”- Warren Buffett.. Find the right mortgage product can be amazingly tough due to the high competition of the mortgage industry. “Offset” facility is one of the common terms we hear in the home loan industry. I find over 60% of refinance home
As result of latest stamp duty savings, I believe there will be more first home-buyers will be able to seek for their first home to purchase. Let’s refresh about the basics of buying a first home. Knowing what a property is worth is central to avoiding paying too much for
It appears to me later on, that most investors have not been paying much attention to latest changes in mortgage world. Specially if an investor seeking to purchase a property by using last dollar in their account, at this current environment it is a great risk. Valuation plays a major
As property prices continue to rise, purchasing in a centrally located or sought-after area is out of reach for the average working millennial. Instead, many are opting to rent rather than buy as it means not having to compromise their inner city or beachside lifestyle. But for those who are
Asking how long it takes to get a loan approved is like asking how long a piece of string is. Every application is unique, so the time between your first contact with your bank or broker and approval can never be predetermined. There are, however, some things you can do
Entering the property market is no easy feat for a first homebuyer, but even parents who aren’t prepared to hand over cash for a deposit may help by being a guarantor on a loan. Before taking the plunge however, it’s crucial to be aware of the implications involved. Here are
There is more to selling your home than putting up a ‘For Sale’ sign on your front lawn. Here are the first things you should check off your list to help you get the largest return from your investment and to ensure the process runs as smoothly as possible.
If you apply for a home loan, particularly if the loan is for more than 80 per cent of a property’s value, you’ll more than likely have to prove to lenders that you have a satisfactory amount of savings. This is to demonstrate your ability to funnel a portion of
Whether you’re after lower repayments or want to tap into the equity sitting in your home, refinancing can offer a world of benefits. Here are some things to be aware of so that you don’t find yourself hooked into a bad deal. Don’t be fooled by the interest rate
Finance data for housing in December 2016 was released last week by the Australian Bureau of Statistics. Housing finance continued to trend higher in December 2016 and the increase was driven by owner occupiers rather than investors. In December 2016, 7.1% of housing finance commitments were to owner occupier first
Purchasing a property is a thrilling yet nerve-wracking experience, which is why it can be handy to surround yourself with a network of support and expertise. Here are the different parties who may be involved in your home-buying process and how you can use this valuable knowledge base to answer
Because they can save you time and thousands over a term of your mortgage As the home loan market becomes increasingly complex, more people are turning to find a mortgage broker in Melbourne. Here are some of the reasons. Mortgage broker can save time and Offer more options The choices now
Reducing the life of your loan isn’t difficult; there are many simple things you can do to cut years off your mortgage. Here are some tips that will help you be mortgage-free sooner than planned. Small extra repayments One of the most obvious ways to pay off your home loan
Why does my broker ask for so much documentation? No one likes paperwork; however, providing your broker with the right documentation will save you time and money. What information will your broker ask you to provide? When you ask to enlist the services of a broker, they will probably ask
Lender’s mortgage insurance (LMI) is required in many instances when a home loan is worth more than 80 per cent of a property’s purchase price, as well as in some other circumstances. In very basic terms, when a lender considers a loan to carry a high risk, LMI is likely
Whenever it makes financial sense to do so. Heard about mortgage refinancing? In the past, most Melbournians who took out a mortgage doggedly continued with it until they had paid it off. These days, people refinance their mortgage much more frequently. The average duration of a home loan in Australia
It has been another strong week for auction activity, there were 2,445 auctions held across the combined capital cities with a preliminary auction clearance rate of 78.3 per cent this week. Last week, the final auction clearance rate was recorded at 76.2 per cent with 2,149 residential properties taken to
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Tue: 8:30 AM – 7:30 PM
Wed: 8:30 AM – 7:30 PM
Thu: 8:30 AM – 7:30 PM
Fri: 8:30 AM – 7:00 PM
Sat: 9:00 AM – 2:00 PM
Sun: Closed
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