Insights & Advice

There’s more to applying for a loan than a large chunk of savings. According to Shelley Stone of BOS Financial Services, the credit environment is more complex than it has ever been. As a result, banks are putting applicants under more scrutiny than ever before.

A good broker can provide you with a better understanding of your financial situation, a greater range of loan options, and in some cases access to interest rates lower than what you would get if you approached a bank directly.

In the process of applying for a loan for a property, Loan to Value Ratio (LVR) is a term that is going to come up a lot. LVR is expressed as a percentage, but really, it’s more than just a number. It’s a way of quickly comprehending your position when applying for a mortgage.

Buying real estate is always pretty thrilling, whether you’re leaving behind the university share house or snapping up that dream apartment so you can grow old by the seaside. It’s important to know how much you’re really up for so you don’t get a nasty shock when it comes to settlement.