Doing anything alone can be daunting and uncertain. Buying a house or investing in property on your own can be even scarier because you know the bank is looking solely at you and what you bring to the table, rather than the supplementation that comes with a partnership.
In June this year, there was a general announcement that there would be fairly significant reforms to all credit cards. What ensued was an uncertain and garbled series of explanations about what it meant for credit card holders and most of us not in the financial institutions were left scratching our heads. It has only been in the last few weeks that lenders have clarified how this will affect consumers and made this clearer.
If you’re looking to invest in real estate, equity makes it easier for you. Whether you’re a homeowner or you’ve already acquired an investment property, the equity you’ve built up can be used to purchase your next piece of real estate.
With the new financial year well under way, and the effects of the Banking Royal Commission still rippling through the sector, it’s an interesting time for anyone to be refinancing, applying for new loans, and generally trying to convince the banks they’ve got what it takes to pay their loans back.
In May, we put out an announcement about the Banking Royal Commission and how mortgage brokers, with a few exceptions, have basically been doing the right thing all along. While this is still the case, it has become clear that the lenders have been less than transparent about their dealings with brokers and clients and have been slack in their diligence.