When exploring ways to optimise your mortgage, an offset account often comes up as a powerful tool. But what exactly is an offset account, and how does it affect your monthly repayments? Let’s dive into how it works and why it could be a game-changer for homeowners. What is the Benefit of Having an Offset Account? An offset account is just a transaction account that sits beside your home loan. The balance of that account comes off of how much

Owning a home is a milestone event in life but equally fraught with a great deal of financial responsibility. Among the many ways one can protect that investment, one option is mortgage protection insurance, or MPI.  Below, we will explain: All You Need to Know About Mortgage Protection Insurance How it Works Its Various Types How It Compares to Other Insurance Options Understanding Mortgage Protection Insurance Mortgage protection insurance is a type of policy designed to cover your mortgage payments

Browsing property sites – at home or abroad – can be exciting. You may have already found your dream home (perhaps several!) and can’t wait to get started. However, buying a home is as big a financial challenge as it is an exhilarating milestone. Especially for first-time buyers. Saving for a deposit, for example, can be a real uphill battle. However, the 20% deposit figure you see everywhere isn’t the only option. It’s actually possible to get loans with less

If you’ve spent any time at all researching property and investment, you’ve probably come across the term ‘negative gearing’. It’s everywhere right now. And at first glance, it doesn’t seem to make much sense. After all, it’s an investment strategy that involves losing money, right? How can that make sense? Well, negative gearing is an extremely popular investment strategy, especially here in Australia. So while it may appear crazy, there’s actually strong logic behind it. Ultimately, it’s about tax. Investors

Getting a mortgage approved – whether at home or abroad – is a cause for celebration. It’s the first step on an exciting new chapter and, for many, one of the biggest milestones in one’s life. But that doesn’t mean it’s all clear sailing. Navigating home loans (which loan type is right for me?) can be overwhelming. As can paying one back once it’s been approved. This is where ‘mortgage stress’ enters the conversation. If you’ve ever wondered about the

Thinking about buying property in Australia? Whether it’s an investment or a second home, there are a few essentials to keep in mind to save yourself some hassle. We’re here to walk you through a guide to ensure you’re properly prepared: 1. Know the Australian Real Estate Market The Aussie real estate market is fairly unique – demand varies between major metro areas and quite rural regions. You’ll usually see the following high-demand cities with the highest price tags: Sydney 

Offset accounts let you save on mortgage interest and reduce the time it takes to pay off a home loan. If you know how to use one properly, you’re potentially saving thousands in interest payments as well as shaving years off your mortgage term. Not everyone knows how to use one, so we’ll be covering the following throughout this article: How they work. The benefits. Potential drawbacks. Practical tips for getting the most out of them. What is an Offset

Buying your first house is an exciting, albeit challenging, journey, and the mortgage process is a key step throughout this process. You’ll likely come across the term “conditional approval” along the way. Although this sounds like another layer of complexity, especially if you’re new to home buying, it simplifies your path to getting a mortgage. What Is Conditional Approval? This is a stage in the mortgage approval process where lenders review your initial application, find it promising, but still require

Rather than selling your home or taking on a traditional loan, reverse mortgages let you (if you’re a homeowner over 55) borrow against the equity you’ve built in your property. This means you’re getting much-needed funds without all the immediate repayment obligations you see with standard loans. Understanding Reverse Mortgages Unlike regular mortgages, where you make monthly payments to repay the loan, reverse mortgages don’t require monthly payments. Depending on the terms, the lender provides payments to the homeowner instead,

If you’re considering purchasing property in Spain, there are a few steps you need to follow. This includes having an understanding of the following: Local regulations. Financing options. The buying process. Research the Market and Choose Your Location There are a wide range of regions in Spain – all of which have unique property markets. Major cities like Madrid or Barcelona are far different from Costa del Sol or the Balearic Islands, for instance, which makes choosing the right area

A good broker will not only simplify the process of securing a loan but will also save you a lot of money and headaches – which is especially true if you’re thinking about buying property internationally. When you’re dealing with different countries’ rules and loan structures, you need the broker to play a much more critical role in helping you find the best deal than you would if you were buying locally since you’re, presumably, a lot less experienced in

With international lenders generally imposing stricter lending rules for foreign buyers – whether you’re trying to buy property in Spain, Australia, or anywhere in between – being able to boost your borrowing capacity is a must as it gives you access to: Larger loans Better interest rates More favourable terms Your borrowing capacity determines how much a lender is going to give you based on things like your income, credit history, and debt – so, when you have a higher