Claire Ferguson InReach Finance | Businesses

Claire Ferguson InReach Finance

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19.01.2022 If you are applying for your first home loan - here is the pain free alternative: The first time you apply for a loan, you could feel a bit like a deer in the headlights. With so many questions to answer, you might start to wonder if your mortgage broker is hatching a secret plot to kidnap you and steal your identity. ... Understanding what lenders are looking for can help to make the process easier for you, and improve your chances of being approved for a loan. There are five 'C's when it comes to lending... Credit History Your credit record can have a big impact on whether you're approved for a loan. Your lender will want to know about money that you have borrowed in the past, and how quickly you paid it back. Credit cards, phone bills, car loans and many other sources of credit are examined when determining your credit rating. Capital Your lender will want to know that you have assets and funds accumulated. Particularly, they will want to know how much you will be contributing to the purchase. Collateral You will need to offer property as security against your loan. Usually this just means that you offer the house as security, so that if you don't repay the loan, your lender can sell the property to get their money back. Capacity Your lender will assess your ability or capacity to meet repayments. This is done by examining your income and financial commitments such as living expenses, other loan repayments and dependants to determine if you are capable of servicing the loan. Character The lender will also take into consideration other details about you, such as your working history and length of employment, how long you have lived in your current residence, and any other available information that might help to determine your suitability for a loan.

12.01.2022 6 Steps you can take today to achieve your financial goals Are you struggling to manage your household expenses, mortgage repayments and other unexpected bills that always seem to arrive at the wrong time? It might be time for you to sit down and create a budget that works for you. Many homeowners have achieved their financial goals a lot sooner by creating and following a careful budget. Who knows - you might even be able to pay a little more off your mortgage each month ...and be mortgage free a couple of years sooner. Step 1 - Identify how you're spending money now Get out the bank statements, receipts and online banking, and spend some time examining exactly what you spend money on now. Be honest, and don't forget to factor in the things that only come up on occasion - like car registration, birthday presents, Christmas etc. Step 2 - Set goals for the future Work out what you hope to achieve by implementing your budget. This will help to motivate you because you will be working towards an actual goal and you can see the results. Step 3 - Use budgeting software or other methods for monitoring spending There are some incredible programs available now for budgeting, accounting and monitoring spending. Many of these can be synced with your internet banking so that they automatically collate the information for you. Step 4 - Leave room for the occasional unscheduled purchase There's no use creating a strict budget if you can't stick to it. If you currently go out for dinner once a week, rather than removing it altogether, try budgeting for dinner out once a month. If you don't feel like your life has come to an end, you're more likely to stick to the budget and achieve your goals. Step 5 - Watch out for disappearing notes Do $20 notes seem to grow legs and walk out of your wallet whenever you stop at the ATM? If you don't need to withdraw cash then try to avoid it. Most outlets have EFTPOS facilities these days, so try using your card for small purchases, rather than withdrawing money and making it disappear. Step 6 - Don't count on uncertain wins Don't spend money that you can't afford, because you think that you might be getting a tax return this year. It's dangerous to rely on any money that isn't guaranteed when you create your budget. Maybe you could wait until you actually receive the money and then do something really special with it once you have it.

08.01.2022 Introducing the new home building methods that can save you a lot of time and money. In the past, prefabricated houses would connote images of tackiness and shipping container living, but prefab housing is now enjoying an avant-garde revival. Today's prefab houses consist of high end materials, follow strict green building practices and are designed by leading architects. Often they have substantially better thermal ratings than brick homes, meaning they actually cost a lot l...ess to heat and cool. Some new builders even start with a traditionally built lower floor, then build a prefabricated second floor, being less expensive and much faster than building a standard two-storey home. To find out more, download my short introductory PDF article to this style of home that is growing in popularity - Absolutely Prefabulous.

04.01.2022 Spring has sprung and home buyers are emerging from hibernation. Thats the theory, but the reality is home buyers are on the hunt all year round for the right property at the right price. The economic cycle and how you present your property will have a far greater impact than the weather on how soon it sells and how much it fetches. ...Continue reading