Categories for Lender

Have you considered some Loan saving tips

12/8/2019
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It’s been two months since the RBA started cutting rates, here’s what you should have done by now Lucy Dean Yahoo Finance 6 August 2019 It’s been nine weeks since the Reserve Bank of Australia began its campaign of rate cuts, and if you haven’t been making the most of it, you’re looking at thousands of dollars down the drain. The RBA cut rates by 0.25 per cent both in June and July, bringing the official interest rate to a record low...

What does Finance Pre-approval mean?

26/3/2017
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Confused about home loan pre-approvals? Here’s everything you need to know before you start house hunting. What information do you need? First, your broker will want to build a comprehensive picture of your finances. To do this, you’ll need to provide evidence of everything including: Pay slips and tax returns for your income. Title deeds for tangible assets (i.e. physical items such as buildings, machinery and inventory), and Portfolio statements for intangible assets (non-physical items such as copyrights and patents). Loan...

MORTGAGEE SALES – AN EXPERIENCED AGENT EXPLAINS THE PROCESS AND THE PROS & CONS

2/1/2017
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When a potential investor or buyer hears the term “mortgagee sale” or “repossession” you can often see the dollar signs in their eyes. There is a common view that mortgagee sales come with a lower than market value price. This can be correct in some cases, however thorough due diligence should be conducted before purchasing this type of property. Below we will look into the usual process in WA for mortgagee sales, as well as the pros and cons of...

Garnishee Order

2/2/2016
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A garnishee order is an order issued by the Court requiring the party to whom the order is addressed to make payments in satisfaction of a judgment debt to the judgment creditor. (Some courts now refer to garnishees as money redirection orders). The third party to whom the order is addressed is the “garnishee”. Under a garnish order the garnishee is directed to pay money that would ordinarily be payable to the judgment debtor directly to the judgment creditor or...

Five Points to consider when interests rates are low…

10/1/2016
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Favourable interest rates are a borrower’s best friend, but should you lock in a low rate or go with a variable rate? Here are five things to consider. 1. How low can rates go?Interest rates are at historically low levels and the current outlook suggests there may be further cuts in the medium-term future. If you lock in your rate now, you won’t reap the benefits of later decreases. The question is: how low do you think the rate will...

When writing Settlement Date as due x days from condition- please add one considerate word ‘notice’.

1/3/2015
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Just a tip for the Real Estate Offer and Acceptance Authors: When the settlement date mentions “x days from Finance Approval” please add one word “notice” so that the countdown to the settlement date can then begin once the seller or their agent actually receives the notice.  As some Brokers/Lenders/Buyers often forget or are simply unaware they should immediately forward the approval notice to the Seller’s side so they can also prepare for the settlement date.  Without ‘notice’ mentioned in settlement date x days from… would...