Home Loans & Personal Finance

AAW W.

Melbourne, VIC

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Re mortgage/lending criteria - specifically job stability.

Hubby & I have almost reached our deposit goal, but in the mean time a job opportunity has come up for me. I've worked for my current employer for 18 months - will moving on so soon count against me when we apply for a mortgage?

My previous work history is stable (6yrs for last employer, 7yrs for the one before that) & potential new job will bring only a small salary increase.

Thanks!

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7 years ago

Jacki b.

Semaphore Park, SA

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If I put my fortnightly pay $900 0n my credit card but still use the credit card for living expenses will it pay of quicker debt abt $6000 ?

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7 years ago

Katherine W.

Oakleigh, VIC

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We would like to extend the interest-only period on our home loan but our lender is now saying due to recent changes to the way they calculate how much we can borrow they won’t approve the extension.
The loan is $650,000 and the property would be valued at $800,000. Do all lenders use the same calculation process and will that stop us from refinancing?

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7 years ago

Mitchell W.

Gladesville, NSW

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I purchased a unit off the plan in in Newcastle for $550,000 last year. The property is due to be completed in February 2018 and the local agents have suggested the property has increased by 10% during construction. I used a deposit bond to secure the property and the finance was approved at 90%. As the property has increased to around $600,000 can I borrow 90% which would almost be the original purchase price? Is this possible?

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7 years ago

Julia J.

Silverwater, NSW

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I want to know that I will be eligible to get home loan for the property that will be around 670K in sale price. My annual income is around $63,000 before tax, single income, no dependent and credit card limit is $6000. This will be my first purchasing in property. I can get about $100,000 include all the fees and deposit for the property. Am I eligible to burrow rest from the bank? Is this good idea to buy a home in Sydney with $100,000 that I have? Thanks

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7 years ago

Melissa W.

Elwood, VIC

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I have 3 investment properties, about $1.2m in value and loan of $700k. The rate on the loan is 4.35% and was up as principal and interest. Is the rate too high and should we look to change the loan to interest only?

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7 years ago

Andrea P.

Yennora, NSW

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Hi, I'm a locum Optometrist who does itinerant work (for different companies in different locations when they need me). I've just recently purchased a new car. Currently, in the process of setting up loan structure as i am financing to maximise the benefits as a travelling optometrist. Someone has mentioned to agree to a 'lease contract' so as to tax ddeduct the whole amount of the vehicle? This is opposed to actually owning the vehicle at the end by paying it off? Thoughts?

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7 years ago

Shaun T.

Ryde, NSW

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I have been a contracting engineer for the past 10 years and with the one group until recently. My average annual income is $190,000. In early September I signed a 12 month contract with a new group with the opportunity to increase my income. My wife and I would like to look at refinancing, will this change have an impact? We have a loan of $675,000 and the rate is 4.3%?

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7 years ago

Josh D.

Everton Park, QLD

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Hi

In Sep 2011 I purchased my first home for 240k. In Nov 2012 I moved out of the house and put it on the market for rent as I moved interstate. Since then it has regularly been rent for around $290 pw. I'm currently paying $1250/month principal and interest. I also put $500 a fortnight into a redraw account attached to the loan. The loan is down to 208k and my redraw balance is 38k.

Am I better having 38k in re draw or offset? I would like to purchase new house in near future.

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7 years ago

Peta T.

Tighes Hill, NSW

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Hi. As part of a financial settlement I was ordered to take over the mortgage on an investment property my ex-partner had prior to us getting together (and we maintained whilst together). It has always been solely in his name and soon the mortgage will be in mine. My question is, if I sell this property will I have to pay capital gains tax on it? He only lived in it for 6 months prior to it being used as an investment property.

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7 years ago

Cherie C.

Hervey Bay, QLD

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Hey me and my partner are looking at buying our first house and
be has an abn and earns roughly 60000 a year and I earn 25000 but my credit score is only 500 so is his as well and he owes tax but his paying it off we have 30000 for a deposit as well what are the chances of us getting approved for 350000?

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7 years ago

Charles Q.

Homebush, NSW

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I’d like to ask if there a limit to the number of units on the one title lenders will look at? If it was 10 units would it be considered a residential or commercial loan? Thank you

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7 years ago

Lisa M.

Mccrae, VIC

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Unregistered car for two years finance company still owed from six years ago I am third person to purchase can I register it ??

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7 years ago

Michelle R.

Jerusalem, SA

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I opened a of shore bank account with GHA Commercial bank and my fiancee deposited €600,000.00 in to my account. When I tried to transfer the money to my commonwealth bank account in Australia I was told I need to get a tax clearance verification code the GHANA bank wants me to pay them $17,800.00 for the tax code before they will release the funds. I don't have that money. What can I do?

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7 years ago

Matt B.

Tamworth, NSW

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We rent in Tamworth and like the idea of buying about 20 or 30 acres close by and would like to ask if interest rates on properties are higher than if we buy a house in town?

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7 years ago

Steph M.

Annandale, NSW

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We’ve just found out we’re expecting twins and we have a 2-year-old so we’re wondering should we look at transferring our home loan from principal and interest to interest only for 12 months or so. Is this kind of thing possible and what should we be aware of, thank you?

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7 years ago

Adam Huxley

Investment Manager

Sydney, NSW

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Can anyone tell me what the current average loan duration for a principal and interest (owner occupied) loan is in Australia?

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7 years ago

Kate A.

Lane Cove, NSW

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We are thinking of fixing our home loan, probably for 2 or 3 years. Looking at sites like Finder and Mozo the 2 year fixed options are as low as 3.7% but the comparison rate is 4.6 – 4.7%. Why is there such a big difference and is now a good time to be fixing rates?

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7 years ago

Mick G.

Elwood, VIC

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I’ve been a contractor for a number of years with regular clients and stable income. My question is why is it so difficult to get a home loan as a contractor?

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7 years ago

Liam S.

Seaford, VIC

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My wife and I bought out place 3.5 years ago for 370K. A recent valuation placed it at 650k today. The increase being a bit of luck and some renovations etc. We are considering moving, and deciding whether we hold onto our current place and rent it out or sell it. Could service it and the bank is willing to lend it. What I'm worried about is capital gains tax. Given that we'd probably be planning to sell in 2-3 years, and the appreciation will probably slow, is it better to sell now?

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7 years ago