• May 30, 2020

Need Information on No Deposit (Low Deposit) Home Loans

Since the global financial crisis mainstream lenders/credit providers have made numerous changes to their lending criteria, and it is now not easy to get a 100 per cent-plus home loan deal. However, there are some specialised lenders/credit providers who have recognised the difficulty that many aspiring home owners experience when searching for home loans and so, have introduced no deposit (also called low deposit) home loans.

Mortgage/Home Loan Products available

Here is a list of no deposit (low deposit) mortgage loan products for you to consider that will:

>> Allow you to borrow up to 96% of the purchase price

>> Allow you to capitalise the Lenders Mortgage Insurance (LMI) on top of your loan amount, which can bring the total (LVR) to 97 per cent or 98 per cent Denman Prospect.

>> Allow you to borrow a maximum (LVR) of 100 per cent including LMI costs

>> Allow a maximum (LVR) of 120 per cent with LMI capitalised. But a “guarantor” is required, and

>> Even recognise 12 months continuous rental payments made by you as part of your genuine savings requirements

It is important to remember that the risk to the specialised lender/credit provider is greater for no deposit (low deposit) loans. And so, you will pay a “premium” interest rate for the privilege, usually about 2% higher than the current market rate.

Application Assessment Process

When assessing your eligibility for a no deposit (low deposit) home loan, the specialised lender/credit providers will adopt a stringent assessment process. They will be looking closely at your capacity to repay the home loan. To work out what assessment criteria applies to you; speak to an expert finance broker. Here, are a few tips to help you:

>> Ensure you can demonstrate a strong stable income

>> Try to show at least some genuine savings or show your 12 months continuous rental payment statements, and

>> Ensure your personal debts (credit cards and personal debts) are under control before committing to a no deposit (low deposit) home loan

Seek Expert Advice

As with any aspiring home owner, buying your first home at any stage of life can be an overwhelming process. Not to mention knowing which specialised lender/credit provider is willing and able to assist you can be daunting. So, having an expert finance broker on your side will save you lots of time and heartache.

Employing the services of an expert and professionally qualified finance broker, who specialises in all loan products and finance solutions, is the key to finding the right loan. You need to sit down with an expert finance broker who will be able to explain that there are a number of specialised lenders/credit providers offering high “Loan-to-Value Ratio” (LVR) home loans that will allow you with no savings behind you to take on a mortgage home loan debt.

So, don’t worry if you want to obtain a no deposit (low deposit) home loan. Contact a professionally qualified finance broker to help you.

  • April 30, 2020

Best Home Loan Rates – Steps to Secure Your Best Mortgage Rate

Are you currently wishing to buy a brand new house? Possibly you would like to know if refinancing your present mortgage can be wise? If this is the case, you might desire to get your assignments to create certain you’re receiving the optimal/optimally speed you can on your own circumstance. There is an assortment of elements which play right into the creditors decision to if they are going to turn you into that financial loan and what precisely speed they will willingly provide you Aussie Broker.

In the event you really don’t know exactly what your own credit history is, then you might require to learn. You will find internet services at which it’s possible for you to figure out exactly what your own credit history will be. The greater your credit history, the higher odds you might have to having a fantastic mortgage speed. If a credit history is just where it has to become to find the financial loan or maybe to find yourself a fantastic speed, you might need todo a little bit of credit score repair before having loan. You’ll find a number of credit repair businesses which may direct you concerning exactly what how you can clean up your credit score and increase your credit history.


The lending company will need to confirm your earnings is adequate to earn the month-to-month cost. They’ll have a look over your sources of earnings in addition to just how long you’re earning the cash to determine whenever they are able to depend on such a income to the payment. If you’re selfemployed, they are going to soon be searching to get a lengthier track list compared in the event that you work and also get a pay check. The info that the Lending Institution Will want to find comprises: taxation returns, pay stubs, bank announcements

The lending institution will appear at exactly what the existing obligations and debts will be. It’s their wish to affirm that with all the cash you are coming , you may easily manage their repayment in addition to other debts. You might desire to cleanup any tiny debts or set balances before trying to get the mortgage. This may assist the financial troubles ratio in addition to your credit score card.

Once you’ve placed your advice together to your above mentioned locations, you’re able to search to view that you will provide you with the optimal/optimally homeloan fee for the circumstance. Additionally, there are businesses who focus on carrying the own application along with setting with all the most suitable creditor that are able to best assist you. This is sometimes quite a excellent means to go since that you never desire to possess overly many creditors yanking your charge since this will decrease your credit history and fundamentally harm the speed you be eligible on your mortgage.