Document checklist for Application

These are just some of the documents required in order for your mortgage application to be processed. Find out what other statements and evidence you’ll need with our application documents checklist. Basic application information  Here is a list of documents you’ll need to provide for all types of loans: Short application form (provided by your […]

What is Home Loan Pre-Approval?

A home loan pre-approval, is an agreement between you and a lender to provide you with funds for purchasing a property. A pre-approval does not mean full or final approval. It’s only an indication from a lender that they are willing to approve your loan when you lodge a full application. However, The lender is […]

Costs involved with purchasing a home

The Most Common Upfront Costs of Buying A Home The two most common upfront costs for a mortgage are Deposit and Stamp Duty. Deposit Your deposit is usually 20% of the total cost of the property. Most lenders expect at least 5% of the value of the property to come from your genuine savings. Stamp […]

Saving For A Deposit

How Much Do You Need For A Home Loan Deposit? Generally, lenders require a deposit of at least 20% of the purchase price of the house, along with additional earnings to cover transaction costs such as stamp duty and government taxes. Lenders also do offer home loans if you have less than a 20% deposit. […]

How much loan can I borrow?

What is Borrowing Power? Borrowing power is essentially your financial capacity to get approved for a home loan. It signifies the maximum amount of money a lender is willing to lend you. Before you get approved for a home loan, lenders will thoroughly assess your financial situation to ensure you can comfortably manage repayments. This […]