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Expert advice on home loans, business finance, and financial planning
Most people decide whether to refinance by comparing two rates. That's the start, not the answer. The real question is how long it takes the saving to pay back the cost of switching, and whether the…
Having an ATO debt doesn't automatically stop you getting a business loan. Hiding it, or ignoring it, usually does. A lot of small business owners assume the opposite. They think any tax debt is an…
Most self-employed people don't get knocked back because they earn too little. They get slowed down or knocked back because the paperwork doesn't show what they earn, or shows it in a way the lender…
A decline from one lender isn't a verdict on you. It's a verdict on your file against that lender's rules. The most useful thing you can do next is work out which kind of no it was, because each one has a…
A balloon makes your repayments smaller. It does not make the car or the equipment cheaper. You still owe that lump sum at the end, and you pay interest on it the whole way through. That's the part people skip…
A family guarantor can help someone buy with a smaller deposit. Parents usually step in. Sometimes a sibling or partner of a parent does. It is not free money. It is not a gift. Someone with equity or spare…
Plenty of solid borrowers do not get a neat full-time PAYG salary. They are casual. Or on a fixed-term contract. Or juggle a permanent part-time role with overtime and a side casual job. Lenders can still lend…
You need a car. Three common paths get thrown around: a novated lease through work, a normal car loan, or a personal loan. They all put you in a vehicle. They are not the same product. Ownership, tax treatment, what…
Buying an established house is one loan story. Building a new one is another. With a construction loan, the lender doesn't usually hand over the full amount on day one. Money is released in stages as the build…
When people talk about borrowing capacity, they usually start with income. Fair enough. Income is the fuel. What actually shrinks the number on a lot of applications is not a surprise rate change. It is the small…
Most home loans in Australia are principal-and-interest. You pay the interest and chip away at the balance. Over time the debt shrinks. Interest-only is different. For a set period, your repayment covers interest only.…
