Jackie

Hi, do you have an article on the recent rate cut that dropped the official cash rate to 1.5% and how this can affect bank rates?
Home Loan Experts

Hi Jackie,

Here’s the article with all you need to know regarding the impact of the recent official cash rate cut: https://www.homeloanexperts.com.au/blog/news/rba-cuts-rate/
dutton

Do you have a things-to-do list or a bunch of tips for before we apply for a home loan so we can get by the process more easily when we actually do?
Home Loan Experts

Hello dutton, we have a page on preparing to apply for a loan where we’ve collected some great info about this, mainly through experience on dealing with our numerous clients over the years. You can check it out here:
https://www.homeloanexperts.com.au/home-loan-articles/preparing-to-apply/
Cropper

Hello. I want to borrow 85% LVR to buy a 12-bedroom boarding house and also refinance an existing mortgage to release home as security. Can you help?
Home Loan Experts

Hi Cropper,

Unfortunately, this is not going to happen as for a boarding house such as that, it’s likely that you’ll get a max LVR of 60% to 70% with a commercial loan. If you want to discuss this with one of our mortgage brokers then please call us on 1300 889 743.
mimi

I’d like to put myself on my partner’s property title and loan so will I need to prove that I’ve been with him for 2 years to get this approved?
Home Loan Experts

No, you don’t need to prove that you’ve been in a relationship with him for 2 years for the loan to be approved. You may need to prove that only in the court of law if you separate and wish to have your assets split.
Potter

What do you mean by a ‘borrower of convenience’?
Home Loan Experts

Hi Potter.
A borrower of convenience is defined as a borrower that’s added to the loan application to provide serviceability and/or security but doesn’t receive a tangible benefit from the loan transaction. It’s not acceptable for a person to be joined in a loan simply to provide income support for servicing, or to provide added security for another party to purchase a property. The exception to this is with guarantor home loan applications.