Finance Watch News and Case Studies.
Is It Time for a Loan Health Check?
TLDR Your home loan should be reviewed regularly. A loan health check can help identify potential savings. You may benefit from a lower rate, better features, or improved loan structure. A broker can help compare your current loan against other available options.. Your mortgage is one of your biggest financial commitments, so it should not be treated as set-and-forget. A …
Pre-Approval vs Full Approval: What’s the Difference?
If you’re in the market for a property, you’ve likely heard the terms “pre-approval” and “full approval.” While they sound similar, they’re very different. What is Pre-Approval? Pre-approval is an indication from a lender of how much you may be able to borrow, based on an initial assessment. It gives you: A budget to work …
Buying Again? What to Know Before Your Next Property Purchase
Thinking about upgrading, downsizing, or investing? Buying your next property is different from your first—and preparation is key. Using Your Equity Your existing property may have built up equity that can be used toward your next purchase. This can reduce the need for a large cash deposit. Understanding Your Borrowing Power Your borrowing capacity depends …
5 Smart Ways to Pay Off Your Mortgage Faster (Without Feeling the Pinch)
Paying off your mortgage sooner doesn’t always require drastic lifestyle changes. Here are five simple strategies that can make a big difference over time: 1. Switch to Fortnightly Repayments By paying half your monthly repayment every two weeks, you effectively make an extra repayment each year. 2. Use Your Offset Account Keeping savings in your …