Campbell Gordon

Residential, Uncategorized

29 Nov 2024

Benefits of an Offset Account

Understanding the Costs and Benefits of an Offset Account An offset account is a popular financial tool for Australian homeowners. It’s a simple yet powerful way to reduce the amount of interest you pay on your home loan while keeping your savings accessible. But like…

Campbell Gordon

Commercial

17 Nov 2022

Commercial property finance secrets exposed

Commercial property finance secrets exposed When financing a commercial property purchase the mainstream mentality is, Interest rates are typically higher The maximum loan term is 15 years You can’t have an offset account on a commercial property loan The maximum LVR is limited to 65%…

Campbell Gordon

Commercial

13 Oct 2022

How do Commercial lo doc loan applications work?

  A common challenge for business owners when seeking finance is the need to have current (latest) financials, with the current year, not more than 18 months old (generally). Having current financials certainly gives borrowers the widest selection of lender options available and therefore the…

Campbell Gordon

Commercial

23 Aug 2022

What is a lease doc loan?

    A lease doc loan is a simplified loan application process some banks use to assess commercial investment property finance deals. It is not available for residential property loans. If a deal meets the lease doc policy, then this can substantially reduce the amount…

Campbell Gordon

Residential

17 Aug 2020

Can my parents provide a family guarantee to avoid paying LMI

What is a family guarantee? A family guarantee is typically a means by which parents can support their child in getting onto the property ladder by using the equity in their home to reduce the size of a cash deposit and / or avoid the…

Campbell Gordon

Residential

11 Aug 2020

How to avoid paying Lenders Mortgage Insurance

What is Lenders Mortgage Insurance ("LMI")? Lenders Mortgage Insurance or LMI is a one-off insurance premium payable when you take out a new loan. The LMI premium is added onto your home loan and payable over the loan term. Read on to find out how…

Campbell Gordon

Residential

14 May 2020

Thinking of major renovations or a new build?

What is a construction loan? A construction loan is a loan from a bank which allows you to either build a new home or complete a major renovation on an existing home. The main differences between an ordinary home loan and a construction loan are,…

Campbell Gordon

Residential

14 May 2020

Should I pay a rate lock fee for my fixed rate loan?

What is a fixed rate lock? When taking out a fixed rate loan, it is important to understand that the fixed interest rate is set on the day of drawdown / settlement, not necessarily the advertised rate when you apply for the loan. In some…

Campbell Gordon

Residential

24 May 2019

APRA releases shackles on mortgage prisoners

Read on to understand what a relaxation in lending standards could do for new and existing borrowers. After the tightening of lending standards over the past 12 months, it looks like things are loosening which will provide a big boost for, potential borrowers looking to…

Campbell Gordon

Residential

28 Nov 2018

Should I fix the interest rate on my home loan?

A question that I’m continuously asked by my clients is, “Should I fix the interest on my home loan?”.  And fair enough too — if there are ways to save…

Campbell Gordon