To curb the high competition of the Australian housing market that locked out many would be first home buyers, the Australian Prudential Regulation Authority (APRA) in late 2014 signaled its intention to keep a close eye on a suite of concerns, including the levels of residential lending to investors. APRA’s communications at this time flagged…
Rising house prices are making it increasingly difficult to enter the market. Parents who guarantee their children’s loans can help, but it is important to understand how this can impact the parents’ retirement or investment plans. Being a guarantor generally means using the equity in your own property as security for your child’s home loan….
From time to time, a business needs a cash injection. With so many lenders offering a dizzying array of products, it can be difficult to know what to choose. There are plenty of different types of business finance, but before diving in and applying, it’s important to understand your requirements first, so that a loan…
There are plenty of upsides to buying an investment property that already has a tenant, as well as a raft of risks. Here’s how to minimise them. There are steps you can take to minimise your risk: Make sure the bond has been lodged properly. Your agent will arrange for the bond guarantee to be…
Case study: Things had taken a turn for the worse for James Merrick *, with looming debt threatening to force him into selling his home. A baker employed by a large company, James had taken the opportunity to work overtime to help relieve his debts, but no matter how hard he worked, he could not…
Beware of Property Spruikers and Investment Seminars. Always seek independent qualified advice before signing any purchase contract. ASIC goes undercover to expose the wrong doings in the industry. Full Article can be found in the AFR.
Bright Capital Finance was referred a client who had applied for a loan through multiple lenders and was declined in all applications. A single parent with their own business can sometimes be challenging to secure a loan. Bright Capital Finance was not only able to secure the loan, we secured it with one of the…
Step 1: Speak to a Finance Broker. When considering an investment property, your first port of call should be your finance broker. A Finance Broker can help you achieve your investment property goals. They will review your assets and liabilities to determine how much you can borrow, which will, in turn, give you a general…
When you apply for a home loan, particularly if the loan is for more than 80 per cent of a property’s value, you’ll more than likely have to prove to lenders that you have a satisfactory amount of savings. This is to demonstrate your ability to funnel a portion of your income into repayments. Although…
If you are thinking of building your own home, you will need to be familiar with the ins and outs of construction loans. Construction loans are just not as straightforward as simple home loans. There are additional decisions to be made about the structure of the loan, additional documentation is required and the funding is…
