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🏡“Wanna go halves in a house?” The dos and don’ts of buying a house with a friend, relative or business partner Read the full article 👇 #beforeuloan #PropertyCoOwnership #SharedHomeOwnership #broker #mortgage

The reserve bank met today and decided to keep the cash rate at 4:10% Here’s their explanation. 👇 #beforeuloan #ReserveBank #RBAMonetaryPolicy #CashRateDecision

Finding the right car loan, like finding the right car, comes down to answering a bunch of questions around your needs, your circumstances, your future needs and of course, your wants. A great broker can help you work out the best fit for you and you can find one using our “find a broker” tool 👇 https://ow.ly/BsZb50VrcgL #loan #carloan #borrow #firstcar #dreamcar #beforeuloan

Good news for some Qld first home buyers. Here’s the story 👇 Everything you need to know beforeuloan.com #borrow #beforeuloan #homeloan #mortgage #broker

Our thoughts go out to all those affected by Cyclone Alfred and the ongoing flooding. Here are some websites that can help. Federal Government loss of income assistance payments: https://ow.ly/owsH50ViMth Qld residents, state government assistance: https://ow.ly/SswL50ViMto NSW Residents, state government assistance: https://ow.ly/WAb950ViMtk #loan #beforeuloan #lender #credit #borrow

BID: Best Interest Duty. The best interests duty for mortgage brokers is a statutory obligation for mortgage brokers to act in the best interests of consumers and to prioritise consumers’ interest when providing credit assistance. It aims to align “consumers’ expectation and interest with that of the interest of the mortgage broker. CRA: The Credit Reference Agency. A report ordered by a lender on receipt of your loan application from one of the two main Australian credit reference agencies. This report shows previous loan applications and judgments for the past 5 years. Too many credit inquiries over the past two years can be a common cause for an application being rejected. DSR: Debt Service Ratio: The Debt Servicing Ratio measure whether you can afford the mortgage payments. To calculate the DSR, the lender uses a number of factors to work out the amount of your income that is available to repay the debt. FHOG: The First Home Owners Grant: The First Home Owner Grant (FHOG) scheme was introduced on 1 July 2000 to offset the effect of the GST on home ownership. It is a national scheme funded by the states and territories and administered under their own legislation. Under the scheme, a one-off grant is payable to first home owners that satisfy all the eligibility criteria. FBAA: Finance Brokers Association of Australia. The Finance Brokers Association of Australia (FBAA) is the nation’s leading broker association for finance and mortgage professionals. We represent, educate and support more than 8500 brokers across the country Find more important loan terms at beforeuloan.com #loan #beforeuloan #lender #credit #borrow

Australians are borrowing more than ever to buy a home, except in one state. Find out which one here👇 Everything you need to know beforeuloan.com #borrow #beforeuloan #homeloan #mortgage #broker

Got a HECS/HELP debt? A new Federal Govt ruling has relaxed lending rules so that you may be able to borrow more to buy a home. Find out more here👇 #hecs #help #borrow #beforeuloan #homeloan #mortgage #broker

AAPR: Also referred to as a Comparison rate, the Average Annualised Percentage Rate reflects the total cost of your loan by taking into account other costs other than the advertised interest rate. This is then expressed as a total interest rate cost to you over an average loan term. AFCA: The Australian Financial Complaints Authority or AFCA is an external dispute resolution scheme for consumers who are unable to resolve complaints with member financial services organisations. APRA: The Australian Prudential Regulation Authority (APRA) is an independent statutory authority that supervises institutions across banking, insurance and superannuation and promotes financial system stability in Australia. ASIC: The Australian Securities & Investment Commission administers the NCCP legislation – within this they appoint licenses and register credit representatives. They also have an active auditing role to ensure that all participants are complying with the Act. You can find more terms at beforeuloan.com #loan #lending #beforeuloan #loanrules #regulation

Great news for anyone with a mortgage! 📉The reserve bank today decided to drop the cash rate by 0.25% to 4.10% You can nerd out about it here👇 #interest #interestrate #mortgage #homeloan #beforeuloan #broker #rba #lending #bank