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Beating The Lending System

Hi, Ben Kingsley here with another How to Session. This one is a little bit more of a serious How to session because I want to talk about potential fraud in regards to lending fraud. Now we've seen the APRA which is the Australian Prudential Regulation Authority make some significant changes to the way in which consumers can borrow money to inve...

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Which Loan is Right for you?

For those who are not familiar with the finance side of things, this might be a tricky question. We've previously written about the different types of property loans out there but how do you know which loan is right for you? Especially when there are more discussions these days surrounding principal and interest and interest-only lending options an...

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Is interest rate really THAT important?

BH: Today I'm chatting with Simon Gillespie who's the Senior Finance Adviser and an investment savvy finance specialist and we're going to talk about the question: Is interest rate really that important? I must admit Simon I often get that question from clients where they just say - what's the best rate you can get me? It's probably not the best qu...

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Things to Do Before Buying a Home

There are few things more thrilling than buying a home of your own for the very first time. Having a decent savings or down payment on the home is just a small part of the process. Make sure you have all of your bases covered and a solid idea of what to expect during your journey of becoming a proud homeowner. So just what should you know about how...

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Is Now the Right Time to be Fixing your Loan?

So is now the right time to be fixing your home loan? One thing that I want to talk about today is to try and explain to you how fixed rates works versus how variable rates works. The first part of this story is, variable rates which is obviously the rates that we see changing when the RBA does their cash rate decision is what we set those variab...

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What could go Wrong at Unconditional?

A couple of things that could go wrong once a contract proceeds unconditionally is the finance. The Finance may not have been in place so there might be a couple of special conditions that the bank imposes that the clients weren't aware of at the time. Examples could be, they require you to pay out of Visa cards prior to settlement just to bring ...

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RBA Rate Decision – March 2015

Today the Reserve Bank of Australia decides to keep rates on hold after dropping rates by 25 basis points last month. Now looking at the Board Meeting minutes from last month, it was a bit of a flip of the coin whether they were going to drop rates in February or potentially wait until March. Ultimately, we all know the outcome of that. They d...

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What do the Banks look for when Lending Money?

So you are thinking about actually getting a loan? What is it that the Banks are going to be looking for in terms of being able to lend you money for a mortgage? There's actually 5Cs that allow them to do that. Character, Capacity, Conditions, Collateral and Common Sense. So let's explore all five! The first one is Character. When they are talki...

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Understanding Lenders Mortgage Insurance (LMI)

Post the Second World War, Australia transformed itself into ‘The Lucky Country’. We opened our doors to large levels of immigration and we had plenty of land, food, water and great weather that made us attractive for many who were fleeing war torn areas of Europe and alike. It was also through this era that we got our second great tag line of ...

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