Paying off a mortgage can seem relentless – every payment counts of course, but it can seem to be taking forever to make a dent. Here are some simple ways you can increase the amount you pay off and own your home sooner. Reducing the principle on your mortgage as quickly as you can means paying less interest, …
Circumstances can change, leaving your home loan less suitable than it was originally. A home loan health check can reveal if you’re paying too much. What’s involved? Your MFAA Credit Adviser can do a full home loan health check for you either in person or over the phone. They will check if your loan is still competitive …
Negotiating the best property price isn’t a matter of swindling a seller. It’s about doing your homework, knowing what you want, knowing the market and making sensible offers. When you are buying property, getting the best price can mean the difference between being able to afford it and having to settle for second best. And, of course, a …
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 released in an entirely …
There’s no such thing as a free lunch, but that doesn’t mean you will receive lower levels of service or expertise from a credit adviser who doesn’t charge you. It just means that someone else is paying for it. Each business will have its own reasons for its revenue model, and each structure offers different advantages. Approximately 90 per …
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. It can help a …
Late payments and loan defaults leave marks on a credit history that can complicate any effort to refinance or secure a loan in the future. Default can also lead to a home being repossessed and sold by the lender, so it’s very important to act quickly to avoid it. While late bill payments and a loan in arrears …