Standard Variable Rate
Standard Variable Rate: An interest rate, which is applied to a loan. These may have features such as redraw facility, construction,...
Fixed rate...to fix or not to fix?
Fixed Rate: An interest rate set for an agreed term. Eg. for 2, 3, or 5 years. Fixed rates are akin to a contract – you agree to pay the...
Buying with Friends or Family!
In our area we are blessed to be surrounded by plenty of land, open space, and a lot of it is acre lots and over. And we desire it, we...
Line of Credit loan
Line of Credit Loan: This is a flexible loan that allows you to have funds transferred to your cheque account when required (it often...
What is special about a ‘portable loan’?
Most lenders offer portability with their home loans, but what does that actually mean? If your loan is portable it means you can change...
Genuine Savings...time to save!
Genuine Savings: Genuine savings are a requirement where we are borrowing more than 90% of the value of the house and simply put it means...
LVR - Loan to Value Ratio
Loan to Value Ratio (LVR): The percentage of the value of the property that you propose to borrow. Why is this important? Well if you are...
Interest only loans
Interest-Only Loan: Under an interest-only loan, usually the borrower makes no principal repayments. The repayments are for the amount of...
Passing on the right advice to your kids
I’m not sure if it’s a throw back to a proper European upbringing or just new Australian etiquette but Australians are both afraid of...
Equity...the bit of property you own!
Equity: The value which an owner has in an asset over and above the debt against it. Eg the difference between the value of a property...
