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Archives for January 2020

Why don’t lenders drop my repayments when the interest rate falls?

A question we've been getting a bit lately has been, ‘why didn’t my lender reduce my repayments when interest rates fell last year?’ It's not just a question our clients have been asking either, with the matter discussed at length in the House of Representatives last November.   What happens to loan repayments when the interest rate falls? If you're making Principal & Interest repayments on your loan and your lender announces an interest rate drop, nothing generally happens to … [Read more...]

5 Tips to Prepare for a Property Valuation

Whether you're exploring refinance options or want to release equity to purchase an investment property, a property valuation is a vital part of the finance application process. And just sometimes, the result of this property valuation can stop the process from progressing altogether. Here we look at the different types of valuations a lender may request and suggest a few ways you can prepare for one.   Why does the lender need to do a valuation on my house? A lender is taking … [Read more...]

How to avoid underinsuring your home

With Australia currently enduring its worst bushfire season on record (and Canberra's January hail storm being labelled a "catastrophe" by the Insurance Council of Australia), we want to talk about insurance. Specifically, the issue of underinsurance.  According to a recent report by the ABC, the Insurance Council of Australia has said that more than four out of every five homes affected by bushfires are underinsured.   What does 'underinsured' mean and how does it happen? Being … [Read more...]

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