Can I Use My Normal Home Loan to Be an Owner Builder? There are many reasons why it pays to use a qualified and experienced broker to help you get an owner builder loan. We have many examples of stories where people have been terribly disappointed because they got a loan (or tried to) using […]
Save a Fortune and Build your Own Home as an Owner Builder The first step in obtaining an owner builder loan is sitting down and determining exactly what your individual circumstances are. What kind of house or renovation are you looking to do? What is your income? What are your assets? How much money do […]
Is it Hard to Get Finance as an Owner Builder? It can be challenging and frustrating but can being an owner builder can also be ultimately rewarding. One of the best tools you can arm yourself with before you start is information and knowledge. Before you decide to be an owner builder, you need to […]
Don’t Become an Owner Builder Without the Right Finance Building your own home or renovation is potentially one of the biggest projects most people undertake and becoming an owner builder can be an even bigger challenge and the decision should not be taken lightly. One of the main reasons that people become owner builders is […]
Building loans are different from normal home loans because they are usually used to finance a construction or building project of some sort. The lender usually values the project based on how much it will be worth once all construction is complete. There is a perceived added risk in the process of building loans as […]
Are building loans the right choice for you? Although it isn’t the right choice for everyone, building a new home or renovating an existing home using a building loan can mean that you end up with exactly the home you want. No longer do you have to compromise and put up with the end results […]
Why Your Project Needs to be Financed with a Construction Home Loan The great Australian dream of owning your own home is an extremely strong part of our culture. Many people plan and save for their homes for years only to find that they can’t find the house that is exactly what they are searching […]
How Construction Home Loans Work The decision to build a new home using a construction home loan can be an extremely rewarding one. There are many reasons why people choose to build their own property. One of the most common is that by doing it this way, your home can be built exactly the way […]
Why do you need to know about owner builder construction loans? For many people, particularly those that are new to the area of construction, owner builder construction loans can, at first glance at appearing daunting and a bit scary. Once you understand both the industry and process however, you can quickly understand that they are […]
When you make the decision to become an owner builder, one of the first questions you need to ask yourself is how much will it cost? Pretty quickly after then, unless you are lucky enough to have a significant amount of cash, you’ll be thinking about how to go about getting an owner builder construction […]
Building Construction Buildings Among the best ways to commit to a strategy would be to write it down and stay with it. As soon as you’ve decided you want to go down the proprietor path, you’ll want to have a handle on how you’re going to fund it. At this point, most folks begin to […]
If you’re an Australian citizen living and working overseas, it’s still possible to get a home loan to buy property in Australia. Living and working overseas for a year or more is a rite of passage for several Australians, and although your career or personal life has taken you overseas for a time, there’s a good chance that you still call Australia home. But what happens if you’re an Australian citizen living and working abroad, and you would like to take out a home loan to buy property in Australia? Do lenders offer home loans to Aussie expats and will you be able to get a competitive rate? The good news is that a wide variety of banks and non-bank lenders offer Australian expat home loans. However, there are certain terms and conditions attached to these mortgages that you simply be aware of before you apply for a loan. You can apply for an Australian home loan to buy property or to refinance an existing loan. This type of lending is often referred to as expat lending, and whereas some banks won’t provide mortgages to Australians living abroad, there are plenty of lenders that can offer the financing you need Home loans available to Australian expatriates: A line of credit: A line of credit loan provides you with access to the equity in your home or investment properties up to a pre-approved limit. You access the funds as you would like to. The rate of interest on a line of credit loan is typically a variable rate and repayments are interest-only. Standard variable rate home loans: Standard variable rate loans are Australia’s most famous type of home loan. The interest rate changes throughout the loan term. These loans, for the most part, offer excellent flexibility, low fees and often offer features such as an offset facility, redraw facility, no limits on additional repayments and in most cases, no early payout penalties. Split loan: Joining the security of a fixed rate home loan and the advantages of a variable loan, the split loan option allows you the flexibility to pick how much money you assign to each loan type. Basic split loan ratios are 50:50, 70:30 or 60:40 over a two-way fixed and variable rate. The key consideration generally comes down to the amount of risk you want to take on the cash rate going up or down. Construction loans: If you are building your own home or investment property, a construction loan might be appropriate for you. This loan requires a fixed price building contract from a registered builder. These loans are normally interest-only for the period of building and then become principal and interest once the building is completed or, subject to negotiation, this interest only term can proceed A construction loan enables you to draw money as is required while building.
Are Car Loans Advantageous or Disadvantageous? Car loans like every lending product can have a positive impact on your life if managed properly. But, if mishandled, a car loan will end up to be an expensive mistake that may cause you financial and emotional stress. Thus, it is important to take the time to review the advantages and disadvantages of getting a regular car loan or bad credit car loans. Why is Getting Car Loans Advantageous? The main benefit of car loans is that it offers you immediate access to a vehicle or a better vehicle that you simply wouldn’t be otherwise ready to afford. This is extremely valuable if you need a car for work or family commitments. Another benefit is that it permits you to build your credit profile assuming you make all the repayments on time. Applying for car […]
Becoming an Owner-Builder If you’re thinking of turning into an owner-builder, you may be wondering about saving money and having additional control over the finished product. Both are great reasons to explore this selection – however, the success of either can rely on your skill and ability. The other crucial issue to think about is whether or not you have got the time to devote to a building project. Bear in mind a customary build usually takes longer and Still, saving money and imposing your standards sounds pretty good. But as an owner-builder, you become responsible for everything associated with the project. Basically, you also assume all the responsibilities. Unless you’re feeling very confident in your experience and expertise, this could be a big risk. Another key factor in becoming an owner-builder is that several lenders will only finance the construction of homes built by licensed builders. So if you’re planning to do a lot of the work yourself, make sure to ask your lender ask about their requirements ahead of time. To sum up: If you’re set on building, considering your timeline and budget can help you to decide which method or technique can suit you best. While becoming an owner-builder could mean some financial savings, this is a skilled role and you should only consider taking this on if you have experience in project management. A hot topic for owner-builders is owner builder financing. “How do I go about figuring how much home I can afford to build?” Well, if you plan on financing your project, there is a simple process. You may simply fill in our contact form and one of our Home Loan Experts or Consultants will get back to you and you can explain your goal. Ask them to evaluate your financial position and give you a specific amount …General rule – If you don’t have a background in the construction industry is it not recommend that you build your own home, as there are a lot of extra expenses and process that you will not be aware of.
Equipment Financing Means Flexible Solutions for Unique Business Needs Financial circumstances are challenging numerous businesses today, and the current economic environment poses even greater difficulties for entrepreneurial startups and small businesses that are struggling to get established, grow or just stay in business. The characteristic innovation, agility and hard work of these businesses are precisely what the Australian economy needs to get move once more; however, their nature of being newer, less capitalized or less established creates a catch-22 that impedes their ability to secure the credit they need. That’s why it has never been more important for startups and small businesses to understand their alternatives for financing the equipment work and develop their businesses. Acquiring equipment through leasing and other financing techniques is more adaptable and adjustable to meet unique business needs than most funding alternatives. This makes equipment finance a perfect fit for startups and small businesses, both of which may experience difficulty getting traditional bank loans. With equipment finance, there’s no going through the same hoops as with commercial and industrial loans. For instance, normally most lenders want to see two years of financials, which startups, by definition, don’t have. Equipment finance is a $1 million industry in Australia, and it is anything but difficult to discover industry participants who customize their service offerings by end user industry, equipment type, ticket size or end-user business size. There are equipment finance companies that offer special programs for startups, and companies that specialize in services for small and mid-size companies The important thing to remember is that equipment finance companies offer flexible options that help equip a wide range of businesses for success. This is a particularly good time to finance equipment because there is such a great amount of liquidity in the marketplace. There are numerous funding sources—leasing companies and banks—that are looking to lend because they have the cash available to deploy. So, a highly competitive marketplace makes this a favorable time for end users to finance productive equipment.
For Borrowers With Credit Histories that May Have Black Mark Associated with Them “Bad Credit Equipment Options: There are many different options businesses can choose from when it comes to bad credit equipment finance. These can include: a) Hire Purchase – Purchase your equipment in installments without having to tangle with ownership and asset declarations. Gain […]
What is Inventory Finance It is designed to pay your supplier directly on your behalf allowing you to meet your financial obligations while keeping your shelves supplied and your business’s reputation intact. It provides businesses with the finance for purchases of inventory for manufacturing or resale for your customers. It is a good way to […]
Types of Equipment Finance Options a.) Chattel Mortgage: This equipment finance option is nearest to a standard property mortgage because of its structure. The equipment will be owned by the business but will be used as the primary security against the loan. After the lender makes the payment to the supplier, you may be able […]
What Are The Loan Types Available with Asset Finance in Australia a.) Novated lease -This is a type of lease where you can include a vehicle in your salary package, the lender owns the asset and you and your employer sign an agreement to share the responsibilities for the loan. b.) Chattel mortgage -A Chattel […]
Why use Broker Specialist? The main advantage of using Broker Specialist is that they have significant experience and expertise in their particular field so they understand the unique risk that your industry faces. As the business owner, this means you’ll get all the cover you need, but you also won’t be over insured and spending […]
