Search found 7538 matches

by Otto Dargan
Mon Jul 22, 2019 7:55 pm
Forum: Home Loan Forum
Topic: How much can I borrow as an expat borrowing in SGD?
Replies: 5
Views: 21

Re: How much can I borrow as an expat borrowing in SGD?

The costs involved when completing a purchase of a property are: ⋅ Stamp duty: The stamp duty can be as high as 6% of the property value. However, this does vary according to states and territories. You can even use our stamp duty calculator to find out if you are eligible for a grant or r...
by Otto Dargan
Mon Jul 22, 2019 7:24 pm
Forum: Home Loan Forum
Topic: How much can I borrow as an expat borrowing in SGD?
Replies: 5
Views: 21

Re: How much can I borrow as an expat borrowing in SGD?

Getting an investment property loan requires you to show that you have a high income, and the chances of getting your investment loan approved are high if you meet the following criteria: ⋅ You will need to show a sufficient deposit of at least 20% in most cases. ⋅ Lenders are fa...
by Otto Dargan
Mon Jul 22, 2019 5:13 pm
Forum: Home Loan Forum
Topic: How much can I borrow as an expat borrowing in SGD?
Replies: 5
Views: 21

Re: How much can I borrow as an expat borrowing in SGD?

Hello Leon, Welcome to the forums and thank you for reaching out to us. We’re glad to let you know that Australians living outside of the country can borrow up to 90% of the property value. Some of our lenders use Singaporean tax rates when assessing your taxable income, which could improve your bor...
by Otto Dargan
Fri Jul 19, 2019 8:13 pm
Forum: Home Loan Forum
Topic: Mortgage on a Permanent Resident Visa
Replies: 4
Views: 65

Re: Mortgage on a Permanent Resident Visa

Hi Buster, Glad to know we could be of help. First Home Owners Grant (FHOG) was introduced in July 2000 as a one-off grant that is payable to homeowners. It is a scheme funded by the state government to incentivise Australians to make their first home purchase. Besides being a permanent resident liv...
by Otto Dargan
Fri Jul 19, 2019 7:28 pm
Forum: Home Loan Forum
Topic: Mortgage on a Permanent Resident Visa
Replies: 4
Views: 65

Re: Mortgage on a Permanent Resident Visa

Getting a mortgage as a permanent resident should not be an issue. Since you are a PR holder, you can get a Permanent Resident Mortgage. ⋅ Since you are currently living in Australia as well, you can borrow up to 95% of the property value which is significantly higher than permanent reside...
by Otto Dargan
Thu Jul 18, 2019 7:16 pm
Forum: Home Loan Forum
Topic: Using My Parents As Guarantors To Buy My First Home
Replies: 5
Views: 68

Re: Using My Parents As Guarantors To Buy My First Home

Hi Sally A, It is understandable for your parents to have some uneasiness about being your guarantor , but they do not need to worry. While they are liable for the guaranteed amount if you default, banks will try their best to solve this issue before going down this drastic path as it is a lengthy a...
by Otto Dargan
Thu Jul 18, 2019 6:44 pm
Forum: Home Loan Forum
Topic: Using My Parents As Guarantors To Buy My First Home
Replies: 5
Views: 68

Re: Using My Parents As Guarantors To Buy My First Home

Hi Sally A, With a limited guarantee, you can limit the amount of guarantee on the guarantor’s property so that your parents are not 100% liable for your mortgage. Lenders use the following formula to calculate the size of the limited guarantee: Size of the limited guarantee = (Loan Amount – (0.8 * ...
by Otto Dargan
Thu Jul 18, 2019 4:14 pm
Forum: Home Loan Forum
Topic: Using My Parents As Guarantors To Buy My First Home
Replies: 5
Views: 68

Re: Using My Parents As Guarantors To Buy My First Home

Hi Sally A, Thank you for reaching out to us and welcome to the forums. Yes, your parents can be accepted as guarantors by banks if they are both Australian citizens . Guarantor loans are perfect for you as it allows you to borrow 100% of the purchase price. It is the only no deposit home loan that ...
by Otto Dargan
Wed Jul 17, 2019 7:06 pm
Forum: Home Loan Forum
Topic: 2.99% interest rate is that real? What's the catch?
Replies: 3
Views: 70

Re: 2.99% interest rate is that real? What's the catch?

Hi Heck, Banks and lenders are required by law to display a comparison rate when advertising any home loan interest rates. This is intended to show any hidden costs that wouldn’t normally be disclosed. It takes into account credit fees, loan application fees, recurring fees and other costs. The calc...
by Otto Dargan
Wed Jul 17, 2019 6:18 pm
Forum: Home Loan Forum
Topic: 2.99% interest rate is that real? What's the catch?
Replies: 3
Views: 70

Re: 2.99% interest rate is that real? What's the catch?

Hello Heck. Welcome to the forums. Greater Bank’s 1 year fixed rate home loan reverts to 4.35% p.a. after the introductory/honeymoon period . Compare that with a 3.44% p.a. variable rate home loan , a loan comparison shows that on a $1.2 million loan, you’re saving $204,871 in interest with the vari...
by Otto Dargan
Tue Jul 16, 2019 10:59 pm
Forum: Home Loan Forum
Topic: Is it possible to do 'one on loan two on title' property share loan?
Replies: 5
Views: 88

Re: Is it possible to do 'one on loan two on title' property share loan?

Hi Nelly, Yes, you absolutely need to get a co-ownership agreement in writing. It could save both of you from all sorts of dispute down the line. We recommend you speak with a qualified solicitor regarding this. We’ve listed some questions best discussed with your solicitor/legal adviser, such as wh...
by Otto Dargan
Tue Jul 16, 2019 10:30 pm
Forum: Home Loan Forum
Topic: Is it possible to do 'one on loan two on title' property share loan?
Replies: 5
Views: 88

Re: Is it possible to do 'one on loan two on title' property share loan?

Hi Nelly, Basically, with a security guarantee: ⋅ Your brother will be a guarantor and not a borrower. ⋅ This will be your loan. ⋅ Guarantor (your brother) is still liable for the loan. This is because the bank cannot sell half a property if someone defaults. So all own...
by Otto Dargan
Tue Jul 16, 2019 9:43 pm
Forum: Home Loan Forum
Topic: Is it possible to do 'one on loan two on title' property share loan?
Replies: 5
Views: 88

Re: Is it possible to do 'one on loan two on title' property share loan?

Hello Nelly. Welcome to the forums. You can have your brother as guarantor and you as a borrower with a property share loan with some of our lenders on a case by case basis. Either way, your brother as a borrower or a guarantor is still liable for the debt so legally speaking he is not in any better...
by Otto Dargan
Mon Jul 15, 2019 9:23 pm
Forum: Home Loan Forum
Topic: Advise on buy now build later
Replies: 1
Views: 83

Re: Advise on buy now build later

Hi Mozzie, If you’re buying land and you have no intention to build within 12 months of settlement, it may be a better option to hold onto your savings since they are much easier to access than equity. Lenders also generally want to see proof of build too, they want to see the capacity that clients ...
by Otto Dargan
Mon Jul 15, 2019 9:01 pm
Forum: Home Loan Forum
Topic: Got knocked back by the mortgage insurer - 95 per cent home loan
Replies: 3
Views: 96

Re: Got knocked back by the mortgage insurer - 95 per cent home loan

Hi Nigel, Yes, lenders will accept your older tax returns if you haven’t yet filed your tax returns for this financial year. Each lender has its own method of calculating your self-employed assessable income from your tax returns. Some lenders will use the average of the two years taxable income, wh...

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