A home loan deal that saves your neighbour money might not be the most appropriate deal for you. That’s why the experience of our lending specialists really make a difference.
An EZ Finance Lending specialist will identify your specific borrowing requirements, then use our Finance software platform to compare hundreds of home loans against those requirements. An hour invested with an EZ Finance Lending specialist could save you thousands of $$ in the long run. From the moment you choose a mortgage, your EZ Finance Lending specialist will walk you through the entire home loan process, from application, to settlement, and beyond. They’ll also show you where to sign and explain exactly what you’re signing.
When you work out which is the best loan options for your situation, all you need then is to find the right bank or Lender which has the best interest rate, lowest fees, convenient locations with perhaps internet access!
The list goes on and on; but that is where EZ Finance can help you through the maze, - quickly and "EZ".
Home Loans for the Self Employed A significant percentage of the Australian economy is driven by small businesses and self-employed individuals, but these potential home buyers can face unique challenges when wishing to qualify for a self-employed mortgage.
We have support and solutions available for almost every situation, including:
Securing finance for your new car through the dealership is easy. Produce your driver’s license and a few other documents and, before you know it, you’re behind the wheel of your new car.
But not so fast.
Most of us don’t have a spare $20, $30, or $50,000 lying around to spend on our new car, so we need to get finance.
But...
to prevent a severe case of buyer’s remorse; we take a closer look at the reasons why you should arrive at the dealership/caryard with pre-arranged finance with your broker.
There are outstanding opportunities for property investment in Australia, whether you are an overseas citizen or an Australian citizen living and working overseas. If you are looking to purchase property in Australia as a non-resident, we can demonstrate a range of options that meet your requirements. Our team and our partners have a strong record of providing finance and assistance to overseas residential property buyers and investors. Thanks to our strong network and direct access to an extensive range of lenders, we always finds solutions, where often traditional lenders such as banks and mortgage lenders are simply not geared to help.
Residential property buying in Australia from overseas?
Within our team of mortgage brokers, we can find someone fluent in your first language. We can check that your income currency is an acceptable one.
We have provided hundreds of millions of dollars to overseas borrowers purchasing Australian residential properties. Why not join them?
If you are an overseas resident looking to make an investment in Australian property, simply contact us and we can help you evaluate your options.
Commercial and Busines loans are quite specialised and perhaps can be even harder to get as the banks and lenders have really tightened up their policies to reduce their risk exposure.
The GOOD news is, that many other NEW players are coming into the commercial finance space every week with their own different set of guidelines which may be more suitable to MEETING your needs. Contact RedCap Finance Brokers - Your EZ Finance business advisor today to see how we may secure finance for your situation!
Business finance options
Money Management and Protecting Your Credit Score can be difficult.
There are lots of opinions on how to manage your money and credit profile successfully, but sifting through all that can be a challenge, however here are some tips that may assist you further.
Credit scores help lenders decide if they should lend money to you. Knowing your credit score can help you to negotiate a better deal with your bank or find an alternative lender that will reward your good credit history.
Improving your credit rating starts with looking at your current financial situation and looking for ways to improve it.
We all know that buying a home involves a big financial outlay, but few of us are aware of just how big the "Bill" can run to. Here’s how to prepare for the costs ahead.
Federal and State governments may be handing out incentives left, right and centre, but this doesn’t mean that you no longer need to prepare properly before buying a home.
The costs involved in buying a property can go all the way up to 11% of the purchase price for some people. If you have a $44,000 deposit for your $400,000 home, that’s your entire deposit spent on costs - and nothing on the ctual deposit needed!
I usually advise buyers who are owner occupiers to allow for (as a quick rule of thumb) 6% of contract price for all the costs associated with buying the property.
Buying a house isn’t just about paying what’s on the property’s price tag. There are some extra costs all buyers should be aware of.
Q. So how much are these "hidden" costs anyway?
A. Perhaps unsurprisingly, it all depends on the value of your property and where it’s located.
For example, if you want to buy a home in Queensland that’s valued at $500,000, you can reasonably expect to pay the following:
Costs not included in the above example, include your due diligence costs - council searches - zoning, flood, contaminated land registers, etc; building & pest inspections by qualified engineers; quantity survey (if required). Lenders' Mortgage insurance costs if your deposit is less than 20% also need to be paid for either in cash or by adding to your loan amount.
Terms Involved:
Stamp duty A government fee based on the property value. It varies based on the type of loan you need and the state or territory you're buying a property in.
Mortgage fee A government fee to register the home loan on the title of the property. It varies based on the state or territory you're buying a property in.
Transfer fee A government fee for the transfer of the property's title from one person to another. It varies based on the state or territory you're buying a property in.
First home owner grant A one-off payment from the government to first home owners who are eligible. It varies based on the state or territory you're buying a property in.
Conveyancing Solicitors or conveyancers help with documentation and settlement. These fees can vary.
Lenders' mortgage insurance (LMI) LMI is insurance that a lender (such as a bank or financial institution) takes out to insure itself against the risk of not recovering the full loan balance should you, the borrower, be unable to meet your loan payments. It is important to understand LMI covers the lender, not you (or any guarantor). LMI provides consumers with a benefit as it allows lenders to provide home loans to those who otherwise meet their lending requirements but who may still be rejected for a loan because they do not have a 20% deposit.
In practical terms, a property is worth what someone will pay for it. But sometimes you need a ballpark figure before the negotiations get underway.
A property valuation is a detailed report of a property’s market value, which is defined by the International Valuation Standards Council as the estimated sale price “between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently, and without compulsion”.
As the careful wording of that definition implies, the final sale price is usually different from the valuation contained in the report, as it’s near impossible to predict how people’s emotions, market knowledge and other motivations might affect negotiations.
Q. How is a property valuation calculated?
A. A direct comparison with recent comparable sales forms the backbone of most residential property valuations, though valuers will also take into account the following attributes:
First, valuers use a handful of recent comparable sales to give them a ballpark figure for the property in question, and then they make adjustments to that figure based on any significant differences found between the above attributes of the properties.
“The sales are analysed in terms of land attributes, improvements, location and planning controls… [and are then] compared to the particular property being valued.
However, other property types can require different approaches. For example, commercial property requires more financial analysis and development sites can require more planning consultancy.
Valuers will usually visit the property in question, so that they can assess the condition of the building and make a note of any structural faults and nuances that might affect its market value. Most will then provide the customer with a standard report of their findings within two or three days of their visit.
Q. What is the difference between a property appraisal and a property valuation?
A. Unlike valuations that MUST be conducted by a qualified & licenced valuer, appraisals by real estate agents have no legal standing and should only be considered as a guide to pricing.
Agents will offer an appraisal of your property as a FREE Service, especially when trying to win your business. They base their informal valuation on recent sales in the area and their experience in the current marketplace. BE CAREFUL, as some unscrupolous agents will appraise your property at a HIGHER price to win your business, but as soon as they start marketing your property start "working" you over to condition you to accept a much lower price than they appraised the property at - so they can sell your property quicker to get their fee from you.
Licensed valuers, on the other hand, charge a fee for their service. They are legally responsible for the information they provide and so must base their appraisal on facts. Consequently, their valuations are more comprehensive than a real estate agent’s appraisal.
Q. Can I do something to increase my house value?
A. In most cases - YES!
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General Advice Warning: Any advice contained in this website is of a general nature only and does not take into account the objectives, financial situation, or needs of any particular person in specific. Therefore, before making any decision, you should consider the appropriateness of the advice in regard to those matters.
