Mortgages

It is important to approach the financial institution before I start to research for my home for pre approval.

It is important to do this at start of the buying process so that I have more certainty of the funds.

The text book outline an important strategies to pay off the mortgage off faster.

Some key repayment strategies include

1. Additional repayments

2. Make fortnightly payments - I end up with 13 monthly instalments instead of 12.

3. Lump sum payments.

4. Go for shorter term.

Points to remember for a Good Mortgage

1. competitive rates

2. flexibility - exiting, early payouts, portability

3. low application fees

4. low or no ongoing fees

5. ability to make additional repayments

6. redraw facility

7. Save up a big deposit.

It is also very important to budget and track expenses, + Continue living like a student for as long as possible.

New Product Features

Family Guarantee

- Parents use their home as security for your home loan

- Allows you to borrow 100% of purchase price + stamp duty + legal fees + bank fees

- Saves you paying mortgage insurance