by Greg North | May 26, 2022 | Other Types of Finance, Types of Financial Services, Types of Property Finance
Debt consolidation Debt consolidation is a process where all (or many) of your debts are rolled together into a single loan. Debt from personal loans and credit cards can be incorporated into your mortgage at a much better interest rate as home loans tend to have...
by Greg North | May 25, 2022 | Types of Financial Services, Types of Insurance
Deposit bonds What is a deposit bond? A deposit bond is arranged by the property purchaser with an insurance company to provide a guarantee to the vendor that they will receive their 10% deposit even if the purchaser defaults on the contract of sale. A small premium...
by Greg North | May 25, 2022 | Financial Terms, Types of Property Finance
Bank of Mum and Dad Explained The ‘Parent bank’ is a fun term to describe a genuine and increasingly used source of funds to help the next generation to purchase a property, usually their own home. Parents often have considerable asset value in their own...
by Greg North | May 25, 2022 | Financial Terms
Mortgage Cliffs Explained A mortgage cliff is when a borrower or mortgagee is heading to the end of a fixed interest lending period and moving into repaying their loan with a much higher variable interest rate. When the difference in interest rate is significant, it...
by Greg North | May 25, 2022 | Other Types of Finance
Personal loans in Australia Explained A personal loan might be right for you if you want to fund the purchase of a car, boat, holiday or if you want to consolidate debt. Personal loans are usually unsecured loans, ie, there is no asset provided as security against the...
