What is a portable loan?
What is special about a ‘portable loan’? A question from a reader “ I believe our loan is a portable loan so that means we can take it...
Do I need to refinance?
When refinancing isn’t the best option. Sometimes people come to me and ask for a refinance, but they’re basically happy with their...
Redraw Facility...great for emergencies!
Redraw Facility: If you have made any lump sum or additional principal repayments to your loan account, you can access those extra...
Refinancing...
Refinancing: This means that you switch your current loan from one lender to another; this might be to save interest, to access equity or...
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...
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...
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...
