If you have applied for a homeloan in recent times you might have heard the term "LMI". So what does it mean?? LMI stands for Lenders Mortgage Insurance. Basically it is a type of insurance that will assist the bank or lender to recover losses if a home buyer is unable to repay their home loan. It does not provide protection to you as the borrower, it protects the lender. Here in Australia, it is compulsory for any loan with an LVR (see - "Decoding the Jargon - LVR") above

You may or may not have heard the term LVR. If you have applied for a loan in recent years, chances are you probably have. LVR stands for Loan to Value Ratio. But what does it mean?? And why does it matter?? Loan to Value Ratio is the financial term used by Lenders to express the ratio of a loan to the value of the asset purchased. Lenders will use the LVR to figure out how much risk is involved in a loan. Therefore it is a key element that a bank takes into consideration

Wow, it’s been quite some time since the RBA last raised its interest rates! I remember home loan rates of 13% and 14% as the 1990’s began, and that’s when we were looking for our first home – YIKES!! So, I wonder, how would YOU cope if the RBA lifted its rates?? For most of the last 10 years our interest rates have been at historical lows and for a lot of our first home buyers and young families out there, you may never have experienced an “official” rate rise. Although it i

It’s an exciting and sometimes an overwhelming time. Buying your first home! For most it is uncharted territory so it’s easy to get caught up in the whirl of advise from friends and family along with real estate agents, builders etc. So here are a few guidelines to help you on your way. · Advice from Family and Friends: Although those near and dear to you have the best of intentions, it always pays to get advice from an industry professional. Things change. What might have be