Category: Home loans

Posts related to Home loans

reducing your loan

An inquiry found by ACCC that the negative attention on the banks from the Royal Commission, the Productivity Commission’s inquiry into competition in the financial system and the ACCC’s Interim Report on residential mortgage prices had prompted some borrowers to review the prices they were paying for their residential mortgages.

reducing your loan

For example, in the quarter ending 30 June 2017, 88,000 residential mortgages received a price reduction, while in the final quarter of the monitoring period (ending 30 June 2018), just over 144,000 residential mortgages received a price reduction.

In all, about 11 per cent of borrowers with variable rate mortgages had the price of their current residential mortgage reduced by one of the five banks under review in the year to 30 June 2018.

Despite this, the rate of borrowers switching lenders remained low; less than 4 per cent [...]

Financial solutions

With Australian personal debt skyrocketing in recent years & Christmas spending upon us, it’s likely 1 in 4 families will experience financial stress & drown under the weight of many loan repayments putting credit risk & managing debts challenging in 2019.

If this is happening to you, your family or friends, it’s important to know that you can help consolidate all debts into one easy, manageable repayment with DBIJ (Diligent, Bold, Innovative Just for you Financial solution’s). For example, recently we were able to successfully consolidate 12 debts for one couple!

The middle-aged couple with two dependents found themselves over-committed throughout the years, using unsecured credit to cover school fees, home renovations, overseas trips and some big purchases like a new car plus add Christmas spending’s. They were struggling to meet their monthly repayments for all of these debts, including their mortgage, which was in arrears due to a couple of missed payments.

After assessing their [...]

mortgage broker

We have lenders with a range of flexible products that offer Tax Debt solutions;

Whether it is Full Doc and Alt Doc borrowers Up to 90% LVR No limit to the amount of tax debt to be consolidated

dbij financace mortgage brokers

 

Are you concerned about your credit rating because of  Defaults, you don’t have to be as all defaults up to two years ignored this will help you move on towards your desired goal, as we tailor solutions that make you look financially smart!! This offer is for a limited time, expires on 30/11/2018.

 

how to get a loan approved after being declined

How to get a loan approved after getting declined

It’s one thing when the banks say no to a borrower with an “out-of-the-box” scenario as we don’t live in a perfect world along with the fact that there are events that occur in anyone’s life that one cannot control, but what happens when an everyday event that occurs & one of the clients request to borrow funds gets turned down?

Recently we examined a scenario my client had approached a major bank to apply for a loan solution as the borrower was seeking a loan of $550k to purchase another property as they had considerable funds held in their savings account, but despite his clear credit history, the bank would only lend him $325k.

 

We captured the borrower’s circumstances in one of the many banks servicing calculator, in the same way as they had been given to the bank, to see whether we would be able to [...]

9 Income Sources That will help you Boost Your Borrowing Power

Whether you’re planning to buy your first home or an investment property or just want to upgrade to a larger dwelling, then it’s essential to maximise your borrowing power by fully considering your income source.

Banks and other lenders assess your supplementary income streams quite differently to your base salary. And each bank employs their own unique set of policies and criteria to determine how much they’re willing to lend.

A detailed appraisal of all your incomes sources is necessary to secure the most appropriate loan for your situation. All possible income sources need to be reviewed. Whether these income streams are assessed correctly or not, could mean the difference between securing your dream home, or missing out to another buyer.
9 Income Sources That will help you Boost Your Borrowing Power

Here are 9 income sources that you need to assess:

Bonus Income

Do you earn a regular bonus at work? If you do, [...]

credit cards vs debit cards

Advantage of Credit Card Vs Debit Card

 

Most personal finance experts spend a lot of energy trying to prevent us from using Credit Cards – and with good reason. Many of us abuse them and end up in debt. But contrary to popular belief, if you can use the card responsibly, you’re actually much better off paying with a credit card than with a debit card and keeping cash transactions to a minimum. Let’s examine why your trusty credit card comes out on top.

Signup Bonuses (aka Money for Nothing)

There’s nothing like a welcome-aboard perk. Applicants with good credit can get approved for credit cards that offer signup bonuses worth anywhere from $50 to $250 (and sometimes even more). Other cards thank newcomers by bestowing on them a large number of reward points that can be redeemed for fun stuff (more on those below). In contrast, a standard ATM/Debit card that comes with a bank account offers zero money [...]

reducing your loan

How to Calculate ROI for Property Investments

 

First, we need to understand “Deductions”

What is a ‘Deduction’

A deduction is any item or expenditure subtracted from “Gross Income” to reduce the amount of income subject to Income tax. It is also referred to as an “allowable deduction.” For example, if you earn $50,000 and claim a deduction for $2,000, then your taxable Income is reduced to $48,000.

BREAKING DOWN ‘Deduction’

The Internal revenue system offers a host of deductions. In the United States, tax payers have the choice of claiming the standard deduction or itemizing their deductions.

Return on Investment (ROI) is an accounting term that indicates the percentage of invested Money that’s recouped after the deduction of associated costs. For the non-accountant, this may sound confusing, but the formula may be simply stated as follows: 
But while the above equation seems easy enough to calculate, with property [...]

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