Breakthru Home Loans Pty Ltd in Sydney, Australia | Property

Breakthru Home Loans Pty Ltd

Locality: Sydney, Australia

Phone: +61 438 878 687

Address: 4/29-33 Joyce Street, Pendle HIll 2145 Sydney, NSW, Australia

Website: http://breakthruhomeloans.com.au

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25.01.2022 How to buy a home when you’re self-employed Self-employed borrowers come up against the challenge of not being able to simply present payslips and tax returns to back up their loan applications. But this need not stop you buying your dream home. Of course, as with any mortgage application, you must still prove that your income outstrips your spending and you can service the loan. ... Here are some quick tips: cancel credit cards that you don’t need (this will affect credit scoring); speak to a credit adviser about how the structure of your business and your taxable income will impact your ability to borrow; do your taxes when you should, and always pay your tax assessments on time; save: saving a deposit is obviously important, and showing your ability to live within your means while saving is too. This is key to serviceability you want to show at least a six-month history of high income and low expenses; and go to Breakthru Home Loans Adviser, rather than a bank. Credit advisers have access to specialist lenders that assess applications on a case-by-case basis and tailor their products to self-employed borrowers while bank lenders do not.

24.01.2022 How to speed up your home approval Asking how long it takes to get a loan approved is like asking how long a piece of string is. Every application is unique, so the time between your first contact with Breakthru Home Loan broker and approval can never be predetermined. There are, however, some things you can do to help hurry your application along. If youre not prepared, it could take up to a month. The most common reason for a delay is a lenders turnaround time to assessm...ent, especially when some lenders have competitive offerings and experience larger application volumes, but a lack of preparation can cause this delay to snowball. Breakthru Home Loan broker will help you take all the necessary steps to ensure fast home loan approval, but there are simple ways you can help hurry the process along before your first meeting with your broker.

24.01.2022 Application & establishment fees, stamp duty + more. When taking out a mortgage, many people forget to consider the associated fees and expenses. Here are some of the extra costs that you’ll need to consider when you take out a home loan. Mortgage fees and costs ... Mortgage registration Your Mortgage deed needs to be registered with the government. Mortgage stamp duty Some State Governments charges stamp duty to register your mortgage. Property fees and costs Building, Pest and Electrical Inspection fees It’s wise to have your property inspected for any structural or electrical problems and for pests (e.g. termites). Stamp duty Governments charge Stamp Duty to transfer the ownership of a property. Registration of transfer fee The new owner of the property needs to be registered at the Land Titles Office. Legal fees You generally need to pay a Solicitor of Settlement Agent to handle the transfer of ownership of the property on your behalf Body corporate fees If you buy an apartment or Strata Titled property, body corporate fees are charged, . Maintenance costs Don’t forget to make provision for regular maintenance on your home even if you decide not to undertake significant renovation. To learn more about the hidden costs of buying a home, talk to Breakthru Home Loans Finance Broker today.

24.01.2022 Expertise of brokers is of critical support Breakthru Home Loans Brokers expertise in helping customers navigate the complex home lending market and their intimate understanding of their customers personal circumstances - means they are uniquely positioned to provide critical support for customers when discussing hardship and available options with lenders. If you have any questions or concerns about your existing loans, need further guidance on hardship assistance, or have other questions about your loan arrangements, click here to speak to one of the Lenders at Breakthru Home Loans .

24.01.2022 Simple way to increase loan repayments Paying off a mortgage can seem relentless every payment counts of course, but it can seem to be taking forever to make a dent. Here are some simple way you can increase the amount you pay off and own your home sooner. Reducing the principle on your mortgage as quickly as you can means paying less interest, so your future payments are going even further towards reducing that principle.... To find the ideal balance between the extra repayments you can afford to make and the time this will shave off your mortgage term, use a mortgage calculator For example, on a $350,000 loan at six per cent interest, a monthly repayment of $2100 will see a total term of 30 years and a total cost of just over $750,000, while paying just $500 per month on top of that will bring the loan term down to just under 19 years and the total cost to just over $580,000. Boosting these monthly payments by a further $400 to $3000 will see the loan paid off in less than 15 years halving its term.

21.01.2022 Interest-only loans Borrowing to buy a property and repaying only the interest for a set period can be a great choice for some, because interest-only loans can offer the right candidate financial flexibility while they invest. There are, however, some very important risks to take into consideration. With interest rates at historical lows, interest-only loans may sound more appealing than ever because they offer the opportunity to enter the property market with lower repaymen...ts. In saying that, care must be taken, because interest-only loan repayments do not pay down the actual purchase price of the property or reflect a realistic repayment on a standard mortgage. It’s important that consumers have a clear plan for what they are going to do when the interest-only period ends and how they are going to meet those additional repayments, Breakthru Home Loans Finance Brokers are mortgage experts who help borrowers match loans to their current circumstances and future plans.

20.01.2022 How to avoid loan default Late payments and loan defaults leave marks on a credit history that can complicate any effort to refinance or secure a loan in the future. Default can also lead to a home being repossessed and sold by the lender, so it’s very important to act quickly to avoid it. While late bill payments and a loan in arrears can impact your credit report and lead to difficulty securing finance in the future, the worst case scenario is repossession of a property... Make sure you think through your plan as to when you will resume making payments. Do not promise something you are not certain you can achieve or is not realistic, warns the FRLC. If you don’t know when things will improve, ask for an initial arrangement to be reviewed at the end of the agreed repayment arrangement. One of the advantages of recognising a looming problem before you get behind in repayments is that Breakthru Home Loans brokers may be able to assist you to pinpoint the source of the problem, as well as identify savings that may be available by refinancing to a lower-rate or lower-fee loan. Once there are clear signs of financial distress, this will become much more difficult.

20.01.2022 What to look for at an open house Theres an old saying that you should never judge a book by its cover, and this is true for houses after all, who would buy one having never seen more than the front door? Open inspections are opportunities to really flick through the pages, and heres how to take full advantage. Sniff, peer, listen and feel as much as you can. Your nose might pick up a mouldy or musty smell that may mean damp. You might spy small or hidden cracks that cou...ld mean structural issues. That clattering sound when water is running? That can be a sign of serious plumbing problems. That means checking the roof on the way in and looking at the ceilings in the rooms. Damp and leakage issues are costly and notoriously hard to fix. And once the rot sets in, its there to stay. This may seem obvious but many houses are bought and sold without one. Home inspectors are trained to find flaws in a home that your untrained eye may never see as a problem, but may cost a lot to correct down the line. If its your dream home, you may choose to buy it even with structural or pest problems, but youll no doubt be able to negotiate on price.

20.01.2022 Home equity loan This is probably the most common way people borrow money when they want to renovate. It involves borrowing against the current value of your home, before any value-adding renovations. ... You wont be able to borrow the full value of your home but, without mortgage insurance, you can usually borrow up to 80 per cent of its value if you own it outright. One potential problem is that the cost of your renovations may actually be higher than the equity you have available.

20.01.2022 When was your last home loan health check? Circumstances can change, leaving your home loan less suitable than it was originally. A home loan health check can reveal if youre paying too much. Whats involved?... Breakthru Home Loans broker can do a full home loan health check for you either in person or over the phone. They will check if your loan is still competitive and still suited to your individual needs. Having an expert do this for you can also take the stress out of the process for you. It is advisable to get this check done at least once a year, or if your circumstances change. Benefits A home-loan health check will generally cost you nothing and could save you thousands. Your home loan features could be improved or you could find yourself with a lower interest rate. A better payment structure could also be introduced, making your repayments more manageable. Checking the state of your current loan could uncover the possibility of taking out additional finance, which can consolidate any other debt you may have or help you purchase an investment property. Contact Breakthru Home Loans Broker to organise your home loan health check.

18.01.2022 Applying for a loan? Don’t just pay off the credit cards It seems like a no brainer, right? You are buying a home, so you’ll pay off your credit cards to reduce your debt, but keep them active so you can buy some furniture or deal with emergencies even when you have a mortgage to pay. Wrong. It’s obvious that a lender will consider your credit card debts and the monthly repayments on those when you apply for a mortgage. But what many people do not realise is that credit cards... that don’t have any balance owing can also impact a lender’s assessment of what you can afford to borrow. If you have a high credit limit, you also have a high debt risk in the eyes of your lender. As the logic goes, there is no stopping you from racking up debt on your credit card the day after your loan is approved. Say, on lovely furniture to fill that new house. We have to take account of three per cent of the total credit card limit, regardless of what the applicant owes, says the Breakthru Home Loans broker. If they had a $10,000 limit but they only owe $1000, we still have to assess $300 a month and that comes directly out of their liability. It does make quite a difference , says the broker. For those who have to pay off their credit account before dreaming of cancelling their liability, it is, of course, imperative to make those payments on time to avoid negatively impacting your credit history.

14.01.2022 Construction loans Construction loans are suitable for structural work in your home, for example, if youre adding a new room or making changes to the roof. Construction loans give homeowners the opportunity to access larger sums of money, with the amount dependent upon the expected value of the property after renovations are completed. ... The advantage of a construction loan is that the interest is calculated on the outstanding amount, not the maximum amount borrowed. For this reason, Breakthru Home Loan broker may recommend that you apply for just one loan, but leave some leeway in your borrowed kitty. If you speak to a Breakthru Home Loan broker they will be able to determine which loan will give you the options you seek. This advice is essential, as a poorly planned construction loan could cost you more down the road.

14.01.2022 How to invest on a low income While you may not need a six-figure salary to invest in property, those who earn a relatively low income will require a little more creative thinking to start a portfolio. Here are some tips to help you get started. The challenge for low-income earners, explains Breakthru Home Loans broker, is the time taken to save for a sufficient deposit. Some lenders require a higher deposit for an investor than is required for an owner-occupier, so seek out... a lender and loan that is investor friendly, or consider living in the property for a period after the purchase before converting it into an investment property as your portfolio grows. In any case, having at least 10 per cent of the propertys purchase price as a deposit will not only increase the likelihood of loan approval, it will also increase your borrowing capacity and lower the risk that you will have to pay lenders mortgage insurance (LMI).

14.01.2022 How to pay off your mortgage faster When was the last time you looked closely at your loan, the progress you are making on paying it off and how it compares to others in the market? Analysing your mortgage could mean savings for you, as well as the opportunity to pay it off more quickly, invest in other assets or reach financial freedom sooner. 1. Make smaller payments, more often... 2. Pay just a little bit extra 3. Don't decrease repayments when interest rates fall 4. Offset it 5. Find a better deal Ultimately, your mortgage needs to suit you and your circumstances, or you will wind up paying too much. If you think your current loan no longer matches your situation, speak to Breakthru Home Loans Finance Broker . They will be able to find the right product for you, as well as negotiating appropriate rates on it. Of course, it is important to make sure that your lender doesn't charge fees for extra repayments, refinancing, or any other steps you take in an attempt to save on your loan. Breakthru Home Loans Finance broker will be able to provide details and make sure you have a loan that lets you pay down your balance sooner.

13.01.2022 Save your legs and call a loan expert How do you match a loan and lender to your needs? Rather than running around finding out the details of each and every lender and loan, draw on the expertise of Breakthru Home Loans Broker. One of the benefits of working with Breakthru Home Loans broker is the extensive menu of loan options they have at their fingertips. But given such a wide choice, how does your adviser narrow down the options to find the right loan for you?... Breakthru Home Loans Finance Brokers sometimes have access to more than 30 different lenders. These include the big four banks, second-tier lenders such as Macquarie Bank, Bankwest and Citibank, and a raft of niche lenders such as Liberty or Pepper, which offer loan options for people who may not meet the lending criteria of the top banks. First they’ll talk to the client about their goals. This might be to pay off the loan as quickly as possible, or to find a loan with the lowest interest rate possible. They may want a loan with a fixed term, or they may want a facility with a low fee structure. Each client is different. While interest rates are the most critical factor, it’s not the only factor. As well as the loan’s fees and interest rates, the lender must also match the client.

13.01.2022 Finance Broker or bank ? When youre looking for a home loan, you could go to Breakthru Home loans Brokers or to a bank. While a bank will only offer you its own products, a credit adviser is an industry expert who will take the guesswork out of finding the mortgage product that suits you and your needs.... Its understandable that Breakthru Home Loans brokers are now the number one choice for consumers who are seeking a home loan or to refinance an existing loan. Businesses are also engaging Breakthru Home Loans brokers to help them with their finance needs from car and equipment leasing to loans to help their businesses expand.

13.01.2022 Find savings in the essentials Some costs cant be avoided but many everyday expenses can be reduced. For example you could: Move in with your parents/relatives, or move into a cheaper rental or share house (short-term discomfort can pay off in the long term).... Implement tactics like meal planning, making grocery lists and buying in bulk to save money on food. Set aside a budget for eating out/take-away and stick to it. Shop around to reduce your regular bills you may get better value if you switch, or tell current providers you intend to switch. Seek discounts for taking out multiple policies with one insurer. Use the car less: take public transport; carpool with colleagues; or try walking or riding. Youll be amazed at how quickly it all adds up to savings. Make sure youre paying off debts or credit cards completely each month or as much as possible, to avoid the added expense of paying interest.

13.01.2022 How to get the biggest ROI on an investment property When purchasing an investment property, there are a number of factors that could increase or reduce your potential return on investment. In this case its not just location, location, location. When considering a property for investment purposes, the most important question to ask is will be attractive to tenants?. But how do you know what will appeal to someone youve never met? Settling on a handful of locations is a ...good start. Young families and couples are the ones that drive capital growth and so a location that is within a reasonable distance to schools, entertainment, transport, and an employment hub is one to look out for, says the finance broker. Other ideal factors are a low vacancy rate and relatively high rental yield. As well as speaking to a real estate expert, speak to Breakthru Home Loan Finance Broker to get their insight on the market.

13.01.2022 Investing interstate When people think of buying an investment property, many only think locally. Investing in a property interstate could possibly be a smarter idea, potentially resulting in a better return on your investment. it may also be a potential way to snaffle a bargain. You could be buying into an area with greater potential capital growth compared to your home state as each state reaches different stages of the property cycle at different points.... Get a pre-approval Pre-approval is important because it informs you about barriers you can encounter when you seek to arrange finance for an interstate investment. Visiting the property Visiting the property and seeing it is more telling than simply viewing pictures. The internet is a great source of valuable information, including property guides and market updates. To decide if interstate property is a suitable investment for you, its worthwhile consulting with Breakthru Home Loans finance broker about the considerations to be mindful of before applying for finance.

11.01.2022 What type of loan is right for you? The array of mortgages available helps a good credit adviser to tailor a package to suit your needs. Here are just some of the options. Fixed-rate mortgages... With a fixed-rate loan, you know exactly how much you’ll pay per fortnight or month for the fixed period of the loan (usually one to five years). Variable rate mortgages Repayments can change during the life of a variable-rate loan, so you may pay more or less as interest rates rise or fall. If you’re fairly sure that rates are set to fall, this is a good option. Split home loan (fixed and variable) You can choose to have part of your loan at a fixed rate and the other part can be at a variable interest rate. If rates do fall, the interest will go down on the variable part of your loan, but you aren’t taking as big a risk should rates rise. Land loan A land loan lets you buy a block of land without the pressure to build on it as soon as possible. Land loans are usually variable interest for up to 30 years. Construction loan For buying land, building or renovating your home, a 12-month construction loan can be the best way to go. Usually, up to 90 per cent of the property value can be borrowed. Equity release This loan type allows you to convert a portion of your residential property ‘asset’ into cash or an income stream while still allowing you to continue to live in your home. The best person to help you tailor a loan to your needs is Breakthru Home Loans credit advisers. Find one here.

10.01.2022 How to avoid paying too much for a home Knowing what a property is worth is central to avoiding paying too much for it. Comparing nearby properties that have sold recently is the best way to assess an acceptable price for the property you are looking at and provides a valuable bargaining tool when you are negotiating with a seller or agent. Make sure the properties are comparable, with a similar land size and number of bedrooms, for example, so you arent measuring apples ag...ainst oranges. The property market is always changing, so doing this research once and sitting on it for a few months will offer little help. Going to open homes and auctions regularly will give you insight into the current state of the market and how much certain properties are going for. My number one tip is to look at properties in the suburb next to the one that you want, says Breakthru Home Loan broker. We find that first-home buyers in particular usually end up buying in the more affordable suburb next door to the one that they first wanted to buy in. Having Breakthru Home Loan finance broker onside is key to avoid overpaying for finance they will search out the best loan for you and make sure it is one that you can afford.

10.01.2022 When is the best time to refinance your home loan? As a home owner with a mortgage, chances are you’ve heard of the term 'refinancing'. Refinancing involves reviewing your current mortgage, and potentially swapping your loan to another lender who can better meet your current needs, wants and circumstances. Refinancing can also allow you to consolidate your debts or pay down your mortgage more quickly.... Another common reason borrowers look to refinance is so that they can access equity the amount you'd get from selling your home after settling any associated loans, such as a mortgage on that property, and any other costs associated with the property. Depending on that amount, you may be able to access equity in the property without having to sell it, for example, to make home renovations or to buy an investment property. The first step is to speak to a professional, such as Breakthru Home Loans broker, about your needs and whether you can afford a different loan structure or other change to your mortgage, particularly if you have more than one property.

09.01.2022 Stamp duty explained Stamp duty is a charge which is applied by state governments in Australia on transactions relating to the transfer of land or property. It is paid upfront and needs to be budgeted for in addition to your loan deposit. The amount of stamp duty you are required to pay differs in each state, however there are three factors, along with the value of the property, that determine how much stamp duty you will pay. Contributing factors include:... 1. whether or not the property is a primary residence or investment property; 2. whether or not you are a first home buyer; and 3. if you are purchasing an established home, a new home or vacant land. There are a number of stamp duty calculators available online that take the guesswork out of budgeting for a property. Factoring in this additional cost cannot be overlooked when you are considering your capacity to repay a loan. Again exact amounts differ across each state, but those who benefit the most are first home buyers and those opting to buy a new home. To find out how much stamp duty you need to pay, and whether or not you are eligible for any concessions, contact Breakthru Home Loans Finance Broker.

09.01.2022 Financial relief strategies In this difficult time lenders have responded by announcing financial relief strategies. In an official Australian Banking Association (ABA) statement, CEO Anna Bligh said, Banks stand ready to support customers and if anyone is in need of assistance, they shouldnt wait but come forward as soon as possible. It is important to remember that Breakthru Home Loans brokers have the knowledge, experience and relationships necessary to assist people ...experiencing or expecting to have trouble paying their home loans as a result of changing circumstances. In times like these, the importance of Breakthru Home Loans brokers in assisting customers with hardship and facilitating access to credit cannot be overstated.

08.01.2022 Are you looking to pay less interest? Some people are savvy researchers and will want to take advantage of a lower interest rate from another lender should that be available to reduce repayments. If you aim for a lower interest rate, this could potentially save you a lot of money in the long term. At this point, Breakthru Home Loans mortgage broker will need to find out about your existing loan, repayments and current loan structure.... Breakthru Home Loans mortgage broker will also need to find out more about your current financial situation, including your income, any other current debts and about any assets you own. The current value of the property is also taken into consideration, so Breakthru Home Loans mortgage broker will have access to current data that will indicate what your property is likely to be worth. Breakthru Home Loans mortgage broker will then review the various loan options and figure out whether it’s worth it for you to refinance.

08.01.2022 Difficulty with repayments According to research conducted by Finder in early 2020, about one in five mortgage borrowers, or about two million Australian households, were struggling to make repayments, despite record low interest rates. And with the challenging circumstances that have emerged since, it is anticipated that these pressures will only increase forcing more people to require financial assistance.... Brokers’ expertise in helping customers navigate the complex home lending market and their intimate understanding of their customers’ personal circumstances - means they are uniquely positioned to provide critical support for customers when discussing hardship and available options with lenders. If you have any questions or concerns about your existing loans, need further guidance on hardship assistance, or have other questions about your loan arrangements, Please contact Breakthru Home Loan Mortgage Broker.

08.01.2022 Disclose all information To avoid back and forth requests, which can delay your application, ensure your lender has a thorough understanding of you as an applicant including appropriate identification of all borrowers. Provide all the supporting and necessary documents upfront to your broker, and convey as much detail as possible in relation to your requirements and objectives and have good, current information on your financial position. Breakthru Home Loan broker will need... to not only have your full financial details but will also need to take reasonable steps to verify it. Not all applications require a valuation, depending on the property and lending institution, and forgoing this step can save a considerable amount of time. You can also save time by having a valuation completed prior to your application, as long as its accepted by your chosen lender but check with your broker first. To ensure your application avoids any unnecessary delays, speak to an Breakthru Home Loan finance broker.

08.01.2022 Buying a property with friends If youre looking for a creative way to overcome being locked out of the property market by rising prices, buying a house with a group of friends may be a solution. It can also be a minefield though, so heres how to avoid a blast. Breakthru Home Loans broker can refer you to a solicitor or conveyancer with experience in working on co-ownership agreements, who can advise and create yours and make sure it is suitable, providing the necessary leg...al protection for everyone involved. The big question will be what structure your ownership takes. There are two options: joint tenants and tenants in common. Joint tenancy is the most common ownership structure in Australia, as it is how most family homes would be owned. There are many more considerations when buying property jointly, so speak to an expert early on to make sure youre doing it the right way.

07.01.2022 Finances on your mind? Do yourself a favour, speak to Breakthru Home Loans Mortgage Broker If you are finding it tough to meet your current financial obligations or you are just interested in reviewing your current home loan, then you are not alone. Breakthru Home Loans Mortgage brokers stand ready and able to assist with your options during this difficult time. In this period of uncertainty, at the very least many will be taking a closer look at their finances to make sure t...heir current loan arrangements are right for them. Breakthru Home Loan finance brokers have the experience and knowledge to assist in a variety of situations and are simply an internet search or phone call away. Refinancing too may be on the minds of many as a result of the Reserve Bank cutting rates and banks passing them on, to varying degrees, as well as access to a range of competitive fixed interest rate options on the market. A discussion with Breakthru Home Loans mortgage broker may be just the ticket. No matter what your circumstances are, Breakthru Home loans mortgage brokers can actively assist you in navigating your current situation. So, if you’ve been thinking about reassessing your finances call them now!

06.01.2022 Should you refinance for a better deal? Refinancing a loan can take advantage of lower interest rates to bring down the overall cost of servicing a loan. There are many different factors borrowers need to consider when thinking about refinancing a loan.... The first step is to speak to an expert about your needs and whether you can afford to service a different loan structure. At this point, a Breakthru Home Loans Adviser will also need to find out about your existing loan, repayments and the structure of the facility. Breakthru Home Loans Advisers will have a look at the various loan options and figure out whether it’s worth it for the borrower to refinance. . But if it’s going to save upward of $1000 a year, refinancing might be a sensible approach. If you do decide to go down the refinancing path, working with Breakthru Home Loans Advisers rather than going straight to a bank has advantages because Breakthru Home Loan advisers has access to loan options from scores of different lenders. Breakthru Home Loans Advisers can compare lots of different lenders and, if there is a better opportunity, they’re able to access it. Credit advisers are always working to give you great advice that’s in your best interests.

06.01.2022 Top ways to cut your expenses and increase your savings Is the key to saving a home deposit as simple as giving up smashed avo toast for breakfast? Well not quite, but spending less does make a difference. On top of a budget, a savings plan and strategies such as a high-interest savings account, an effective way to save is to reduce or eliminate expenses.

04.01.2022 Investing in a holiday house? Location is everything Before you take the leap into a holiday-home investment, it is essential that you consider all angles. This means taking your heart out of the equation and giving thought to rental returns - which means location really is king. When deciding whether or not to buy a holiday house or unit as an investment, you would be best served to consider location first. In fact, location has a great deal to do with the success of your ...investment property if you will be renting it as a holiday destination. Sometimes people are torn between where they would prefer to holiday as opposed to looking at the logistics of what will rent better, and what niche markets they can target to provide better rental returns, says Accom Holidays Director Brent Pilkington. You need to make sure that your property location matches up with market demand. Things to consider are travel time and expense, rent rates, local attractions and activities. Deciding whether the investment holiday property you want will be as lucrative as you think often requires the advice of an expert, particularly for investors who aren’t as familiar with the area as residents may be, so investors would be well served to seek advice instead of taking a gamble.

04.01.2022 Line of credit loan (Home equity loan) Also known as an equity loan, to be eligible, one must be looking to make upgrades to the cosmetic domain of their property. Installing a new bathroom or kitchen, painting the interior or exterior of the house and other basic construction falls under a line of credit loan.... A line of credit loan is a revolving door of credit that combines your home loan, daily spending and savings into one loan. If you choose a line of credit home loan, it essentially works as a large credit card. You can use it to purchase cars, cosmetic renovations and other investments. However, the interest-only charge starts when the equity is drawn down. Keep in mind, line of credit loans provide you with money that can gather interest quickly, so if you are ill disciplined with repayments or money, speak to an Breakthru finance broker for a plan that matches your unique circumstances.

04.01.2022 How to buy without a 20% deposit When you consider that a small flat in Sydney could set you back half a million dollars at the moment, saving a 20% deposit to buy that flat $100,000 can seem an insurmountable task. Thats where insurance can help. Lenders mortgage insurance (LMI) may be an added expense, but it offers buyers the opportunity to dive into the property market earlier, without saving up an entire 20 per cent of the propertys purchase price as a deposit... The insurance premium is generally a one-off payment, but you may be able to roll it into the loan amount so that you are paying for it month-by-month along with your mortgage. Breakthru Home Loans broker is an expert on the industry and the credit market. Investigating your options and working out whether to buy now or save extra deposit is a decision that Breakthru Home Loans broker can help you with. https://buff.ly/2KrmqYE

03.01.2022 Concerned about servicing your loans? If you are concerned about servicing your loan, reach out to Breakthru Home loan mortgage brokers for help. As Australians everywhere take a close look at their financial circumstances, Breakthru Home loans mortgage brokers stand ready to lend a helping hand.... Whether experiencing financial hardship through job loss, a reduction in work hours, or business disruption, an increasing number of Australians may be struggling to balance their books as a result of the Coronavirus, and in many cases are wondering how they will continue to pay the bills.

03.01.2022 How to avoid paying LMI Lender’s mortgage insurance (LMI) is required when the value of a loan is more than 80 per cent of a property’s purchase price or property valuation if refinancing. In very basic terms, a lender considers a loan to carry a higher risk if the loan-to-valuation-ratio (LVR) is above 80 per cent and LMI is payable. Here’s how you can avoid paying the costly premium. Save for a higher deposit... The purpose of LMI is to protect lenders should the borrower fail to make loan repayments when the LVR exceeds 80 per cent. When the loan amount is more than 80 per cent of the value of the property being mortgaged, the risk to the lender of not recouping their costs, should the borrower default, is increased. A higher deposit means a smaller loan amount and therefore a lower LVR thereby reducing the lender’s risk. A loan of 80% or less of the property’s value is the key to avoiding paying LMI. Get a guarantor If you don’t have the financial capacity to meet a 20 per cent deposit but still want to avoid LMI, you do have the option of getting a guarantor for your loan. A close relative, such as a parent, sibling or perhaps a grandparent, may be eligible to act as a guarantor and they use the equity in their property to help you secure yours and keep your total loan below 80%. In some instances, having a guarantor on your loan may mean that you won’t need a deposit at all. A little insider knowledge from Breakthru Home Loans finance broker may go a long way in helping you to find a loan that won’t require you to fork out for LMI.

03.01.2022 Why would I use Breakthru Home Loans broker? Because they can save you time and money. As the home loan market becomes increasingly complex, more people are turning to Breakthru Home Loans broker . Here are some of the reasons.... Breakthru Home Loans broker have a panel of Lenders from which they recommend a loan. They have to become accredited with the lender to offer their product, and are required to keep up-to-date with their latest offers. The best deal is not necessarily the cheapest rate. Breakthru Home Loans broker will examine your circumstances and future plans to recommend a loan that is right for you. Having an appropriate loan which works for you can help you build wealth. Breakthru Home Loans broker can save you time and money, and give you peace of mind. But, remember, only work with Breakthru Home Loans broker who are members of MFAA - they are the Essentials of Borrowing.

02.01.2022 What can a credit adviser do for you? Breakthru Home Loans brokers already know the industry, the lenders, their products and their requirements, saving you a lot of time and energy on research. They will also put the time into finding out about your particular credit situation and have a wealth of experience to draw on to help you simplify it. Being brokers, Breakthru Home Loans brokers have to offer a larger selection of loan products. While a bank can only offer you its ow...n products, Breakthru Home Loans brokers can help you choose from a selection of loans provided by different lenders. Breakthru Home Loans broker wont just love you and leave you they will oversee and manage the loans progression right through to the end on your behalf. By the way, the end isnt when you sign the documents and buy your property; you can expect Breakthru Home Loans broker to keep track of you and your changing needs, helping you should you need to switch products or wish to purchase another property.

01.01.2022 Too loyal or time-poor for a better rate? Problem solved Another month, another rate cut. Finance can be so tedious. That is until you realise it could mean more money in your pocket. But how?... For many, matters of personal finance are so dull and/or difficult, they are immediately filed in the too-hard basket. And for their trouble, or lack thereof, these people are often slugged with a 'lazy tax' - the price paid for staying put. Loyalty too, or simply being time-poor, can also be offences punishable by debt in the world of finance. But it doesn’t have to be this way. However, despite the apparent benefits, actively ensuring an interest rate remains suitable is a practice that continues to elude many. Fortunately, there are people out there whose job it is to assist in this process. Breakthru Home Loans mortgage brokers can play a vital role in assisting borrowers through the process of ensuring their mortgage is competitive. Breakthru Home Loans mortgage brokers are just a phone call away and are ready to guide you through the task of refinancing your loan. So get cracking. Click here to find your local broker now.

01.01.2022 How to refinance to renovate? Refinancing your assets to renovate a property is a significant decision that will hopefully improve your standard of living or add substantial value to your property. Refinancing isnt as straightforward as you might expect. ... The type of renovation proposed goes a long way to dictating the loan required. If the wrong loan is chosen, you could be left with a pile of unexpected debt.