Search for: "property"

How to Choose the Right Property Construction Course

Choosing a career in the construction industry is a wise option in the current era. This particular industry has been rising to new heights and has been expanding dramatically due to developments in technology. These developments have increased the demand for this field and thereby have made it more difficult to get employed in this industry. So, if you are planning to find employment in the construction industry, you are about to face some tough competition. The only way to make it through is to ensure that you have the necessary qualifications. In this case, it is imperative for you to pick the perfect construction course for your career. Here is some information that will help you to make the right choice.   Know Your Strengths Before you pick a course, it is important for...

Documents You Need When Buying a Home

Making the decision to buy an apartment or townhouse in NSW is a big step. However, it is easy to get excited and forget about your rights. This, in turn, depends on the contract for sale plus a number of equally important documents. So here is a list of the most common documents that you will need when buying your dream home.   1. Contract for Sale First and foremost, you will need the contract for sale. This document will identify the property in full detail. It will also state the terms on which the property is being sold. In other words, you will find the price, when to pay the deposit, and the time and date of settlement. Bear in mind that residential properties in NSW cannot be bought without submitting a signed contract...

Tips for Selling a House in the Australian Market

Buying and selling houses are not small decisions one must make. However, people may find themselves wanting to sell a house for various reasons, such as moving overseas. The Australian real estate market is quite vibrant as it is now in most areas of the country. Everyone wants to sell their house for a profit. However, the amount of money you will make as profit will depend on where your house is located, and on how it is sold. Once you have made up your mind to sell a house, here are several useful tips that might help you: Prepare the Selling Documents Before you put up a classified ad for your house, you must have the paperwork for selling ready and in order. You must inform your bank of your intention to sell the...

How much deposit is required for a home loan?

Recent media reports suggest that one of the greatest difficulties experienced by first home buyers in trying to break into property ownership is saving up a sufficient daving a home deposit has never been easy. Given the high property prices and high costs of living it can be even more challenging today. Low deposit home loans are available through many lenders. These are home loans that borrowers can gain access to with only 5% deposit. If your first purchase is priced at $350,000 – the minimum deposit with a low deposit mortgage would have to be at least $17,500. When I hear home buyers complaining of how difficult this is to achieve, I think back to 30 years ago when I bought my first property for just over $60,000. I needed to come up with...

Dealing with bad credit fallout

Bad credit can have significant impact on the opportunities available to you both in the workforce as well as in finance and housing. That is not to say that all is lost if you have some credit history roblems. There are strategies that you could employ to address the impact of bad credit in your day to day life. Qualifying for finance Bad credit will put you outside of the lending criteria of all mainstream lenders. That does not mean that no one will lend you, but it does mean that your loan may be smaller than you expected, for a shorter period of time and most likely more expensive than the prevalent cost of bank finance. With finance applications you may try to gain loan approval by offering the lender the security of an...

Is lending to help a family member a good idea?

This question tends to come up regularly. Siblings or parents come to the rescue of their family member when they hit financial difficulties or unable to borrow. While at face value this is a very noble thing to do, after all who else would help if not you, financial assistance can backfire if not handled correctly. Treat all assistance as a ‘gift’ The best advise that we can offer is do not expect to recieve your money back – if you do then this is a bonus. Unfortunately all too often a helping hand in time of need sometimes turns to a long family feud when borrowed moneys are not repaid. Therefore you treat your assistance as a gift and only lend what you can affod to lose, there will be less chance of a...

Home loans that stay with you for life? Bring it on!

The media are doing their best to capitalize on our fear of debt. Over the weekend, I was reading about how more and more lenders are prepared to offer home loans to Aussies in their 60s , 70s and even beyond.  The article talked about the risks associated with going into retirement with a hefty mortgage. However not enough is said about the risks of not investing. Sure you can go into retirement with no debts and no assets, but is that a future any of us would like to have? Home Loans vs Investment loans The finance regulation in place in Australia actually makes it illegal to lend money on an owner occupied mortgage that is expected to last beyond your retirement age. For most of us that means that borrowers in their advanced...

Tips and tricks for fixing Mortgage Arrears

Mortgage arrears can occur for any one of a umber of reasons. Some financial problems are only temporary, and given the chance you should be able to get back o top of your  mortgage. Others may require a review of your overall financial situation and perhaps a refinance or even a sale of the property. One thing for sure, if you do not act promptly you risk seriously damaging your credit history ad ability to refinance as well as possible loosing your house. Speak to lender Before you go too far into arrears on your mortgage, contact the lender and make some sort of an arrangement to allow you perhaps a repayment holiday, temporary repayment reduction, loan extension, lump sum loan reduction – whatever you are able to renegotiate to help you out through your...

Bad Credit Home Loans – fact vs fiction

If your credit history is less than ideal you may feel somewhat confused by your available options when it comes to qualifying for a mortgage. The truth is that bad credit history will certainly not preclude you from qualifying for a mortgage. If you have some questions about bad credit home loans, lets consider the following: Bad credit is history once it is repaid – Fiction Bad credit history can not be eliminated with the repayment of a default or judgement. In reality your bad credit will stay on your credit report for up to 7 years after it is listed, even if the default is fully repaid. Paid defaults will make it very difficult to qualify for a mortgage with traditional lenders. Non conforming lenders may be able to assist but the mortgage will...

Unsecured debts – know your options

This is a common scenario – individuals who find themselves in-too-deep with unsecured debts and no real way of getting out of this debt. Borrowers whose credit history is still unimpaired generally will try to take on a new personal loan to repay some of their other unsecured expensive debt. The problem is when one finds out that they are unable to qualify for a debt consolidation loan. The Bank has said “no” and they start running around in despair looking for a bad credit lender. However bad credit lenders can not offer unsecured loans beyond a thousand or so for a few weeks. Nonetheless there are some available options and should be clearly understood before deciding which way to proceed with debt elimination. Credit card debt When t comes to credit card debt one...