Pointer Category

Borrowers who are self-employed frequently face the challenge of being unable to provide payslips and tax returns to support their loan applications. This, however, does not have to prevent you from purchasing your dream home. For applicants who are self-employed but lack the standard forms of job verification like payslips, several lenders provide low-documentation (lo-doc) …

How to buy a home when you’re self-employed Read More »

Brokers can help connect you to the lender best suited to meet your mortgage needs by shopping around on your behalf, in contrast to loan officers who are exclusively employed by one lending institution and are only able to offer that institution's products. Almost 70% of borrowers today turn to finance brokers when looking for …

How Do Lenders Assess Applications? Read More »

The mortgage industry is a vast world with its own language. One of the many abbreviations used is 'LVR,' which stands for 'Loan to Value Ratios.' This is what it means. When determining how much you can borrow to buy a home, how much of a deposit you need to save, and whether you qualify …

Loan to value ratios Read More »

The time between your initial contact with your broker and loan approval cannot be predicted because each home loan application is different. However, there are a few things you can do to make the process go smoothly.  The most frequent cause of a delay is a lender's turnaround time to assessment, particularly when some lenders …

Getting your home loan approved faster Read More »

When purchasing property, knowing how much your state or territory charges for stamp duty is essential because it could be one of your biggest financial outlays after the deposit. What is Stamp Duty? Stamp duty, also referred to as "transfer duty," is a tax that states/territories charge on transactions involving the transfer of real estate …

Stamp duty Read More »

Lenders mortgage insurance (LMI) is needed when the loan value exceeds 80% of the purchase price of a property, or property valuation if refinancing. A lender deems a loan to be riskier if the Loan to Value Ratio (LVR) is greater than 80%, in which case LMI is charged. LMI, which is different to mortgage …

Lenders mortgage insurance (LMI) Read More »

Many of you might not have to go far beyond your current profession to save you money on your home loan. This is due to the fact that your profession may help you qualify for additional benefits that are not available to the general public. Based on their professions, doctors, accountants, attorneys, and teachers can …

Can your profession save you on your home loan? Read More »

Buying property is one of the biggest financial decisions most of us will make in our lifetime and it’s important to get it right. Solicitors and conveyancers are different, and its key to have the right one on your team, to avoid paying too much while still getting the advice you need. Keep in mind …

Solicitors and Conveyancers – What’s the difference? Read More »

To make finding the right loan easier, and to make advertised rates as transparent as possible, there are comparison rates. You’re looking for the best mortgage deal and you see an advertisement. ‘3.64% INTEREST!’ and, underneath that seemingly too-good-to-be-true rate, ‘4.35% comparison rate’. What does this mean? A comparison rate is a percentage rate that …

What are Comparison Rates? Read More »

Coming across unknown financial terms can be confusing. Pointer Finance has brought you some key financial terms to make your financial vocabulary strong and make banking life easier. So, next time when you meet or talk to a finance broker you know what you’re talking about or what you’re being talked into. Account – In …

Key financial terms that you should keep handy Read More »