With over 20 years of finance industry experience, Michael has what it takes to deliver a loan solution to meet his client’s individual needs.
28
03.11
3:12
Generally lenders are happy with the risk of an 80% Loan to Valuation Ratio (LVR). That is, your deposit or capital is 20% of the purchase price or property valuation. So what happens if you don’t have a 20% deposit?
Beyond this LVR, the lender seeks to transfer the …
21
03.11
12:26
In a nutshell, Character refers to your overall suitability as a borrower based on past behaviours. Even if you have good Capacity, Collateral and Capital, a poor assessment of your character may lead to difficulty in obtaining finance.
Lenders prefer to see stability in employment and residence when assessing applications …
18
03.11
12:01
Borrowers who use mortgage brokers are more satisfied with their home loan than those who don’t, new research has found.
According to the eighth MFAA/Bankwest Home Finance Index survey, 67 per cent of respondents felt they got a better home loan deal from a broker than a bank.
MFAA chief executive Phil …
14
03.11
1:16
Capital refers to the cash deposit you contribute to a purchase and is sometimes referred to as “hurt money” by the lenders. i.e if something goes wrong with the deal, how much of your own money is in the deal.
Typically banks will advance 80% of the purchase price with …
06
03.11
11:35
Last time we discussed broadly the methods by which lenders assess your servicing capacity. This time we’ll look at Collateral.
Put simply, Collateral is the physical security you offer the bank to support your loan. With a home loan, the collateral is usually the house being purchased over which …
01
03.11
1:24
The slick marketing campaigns of the major banks have made front page news over recent days as all of the Big Four appear intent on growing their home loan numbers through the waiving of fees, reduced interest rates, new products and other enticements.
These offers come as a result of the …
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Erina NSW 2250
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Fax: 02 4367 5116
E-Mail: mconnors@smartline.com.au
Website: www.smartline.com.au/mconnors
Smartline are award winning mortgage brokers. We compare home loans and mortgages from over 25 different lenders and help make getting a home loan as simple and straightforward as possible. After all, the best home loan is the one that suits your personal circumstances and requirements.
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