Advice and service to help improve your finances!

Frequent Asked Questions

1. Rent VS Buy? Which one is best for me? What are the advantages and disadvantages?

From the Wealth Creation Point Of View:

Let us have two friends: Friend J and K. 

J saved for a 10% deposit and bought a property with repayments of $700 a week, for a $600,000 dollar loan, at the interest rate of 4.5% per annum, with a loan term of 30 years. In ten years time, J’s home price increases. Equity of J’s home’s has build up. With the equity from his home, J is able to start up his investment portfolio, which could generate income to help him pay back his home loan faster.

K spent all his earnings, and doesn’t have any savings left. He paid $700 a week in rent. In ten years, K remains the same as he is today. He did not build up his equity via home ownership. With no equity built up, K is unable to start this investment portfolio.

After ten years the differences of the 10% deposit ($60,000) has created a huge gap. Let’s assume J’s property only increased 50% over 10 years. J’s home price is now $900,000 – i.e. J’s assets include $900,000. J’s liability is reduced to $502,000 after 10 years of repayments. And hence, J’s has build up an equity of $398,000.

After ten years, if K has not purchased any properties or otherwise invested, and only continues renting. His assets are nil and he remains in a unmoving, immobile state.

Comparing J’s equity of $398,000 with K’s nil, we observe a gap of $398,000 between these two friends. A huge gap. If the house price increased more than 50% over ten years, this gap will be even larger.

Therefore, from wealth creation standpoint, it is more advantageous to buy than rent.

From the Flexibility Point Of View:

After J buys his home, he stays in the same place. If J wants to move to other places, he might rent out his home and pay rent to the another place. Or he could sell his home and buy another place. Either way, it becomes quite the hassle.

On the other hand, K could simply wait for the lease finish and move elsewhere. He will be more flexibility from this point of view.

Therefore, from the flexibility point of view, renting is better than buying.

Still can’t decide? Contact us to consulting.

2. How can I get information about the properties?

Via internet:

In New South Wales, there are two popular websites for property searching, whether buying or renting:

www.domain.com.au

www.realestate.com.au

For share rental, most people look on:

www.gumtree.com.au

Via the local newspaper:

Most local newspapers have a real estate section. Where you will find recent real estate listings. 

Via a local real estate agent office:

Local real estate agents have their listings displayed in their office window, inside their magazines, or have a separate listing sheet for rental property. Simply visit their office!

Via street signs:

In most cases, properties listed for Sale or for Rent have Real Estate Yard Signs in their front yards. You may observe a “For Sale”, “For Lease” or “For rent” sign in front of the property with an agent’s contact details.

Via neighbours and friends:

Asking your friends or neighbours if they know someone who wants to sell or rent their properties, is another way to gather information and opinions on properties.

3.Which lender should I choose and what interest rate will I need to pay?

Every individual’s circumstances are different. Mortgage products are different too.

This is where you need us most. You will need your mortgage broker, Assurance Loans, to sit down, go through your situation, understand your circumstance, and pick the most suitable products for you. We choose from over 100 mortgage products, offered by more than 30 panel lenders.

The ability of your mortgage broker, in this aspect, is vastly superior to your bank manager.

4. If I don't have enough funds to purchase a home, what can I do?

Commencing from 1st July 2017. The New South Wales government has encourage first home buyer to enter the market by introducing the first home buyer schemes.

As long you are Australian Citizenship or Permanent Resident,  first time purchasing a owner occupied home, whether the house is new or second hand, as long the property value is under $650,000, you are qualify for stamp duty exemption.

Previously, you need to save 10% – 12% deposit, and another $24,700 for the stamp duty. Now, with the stamp duty exemption, you only need to save 5% of the property value, for a $650,000 property value, 5% deposit is $32,500.

The majority of people rely on their own savings for this goal. The traditional method of hard saving is critical at this stage. This may sound difficult but actually is not. A strong will to save, and unrelenting discipline, is all you need to form a saving habit. It will be rewarding when you achieve your goals.

For some, parents or siblings may desire to help you. They may do so by using their equity from their own home, or rental property. In this case, even if your savings alone are insufficient (less than 5%), you may still be able to borrow and buy the property with assistance from family members.

 Contact us for further details.

5. If I have a job and earn about $35,000 - $40,000 a year, how much can I borrow from the bank?

First of all, you need to do some calculations to work out your living expenses. Living expense is the money you spend on your day to day life. It includes expenses such as food, groceries, transport, utilities, insurance, medical, education, personal, entertainment and other day to day expenses. Contact us for living expense calculation.

Let us assume someone works out their living expense is $1100 a month.

If they earn a $40,000 salary, their net earnings after tax are $2,890 a month (based on 2017 personal income tax rates).

With $2,890 from their salary while spending $1,100 in living expense, they end up with $1,790 extra each month that they are able to pay as mortgage.

Earning $40,000 p.a monthly net income $2,890

                                           Minus living expense $1,100

—————————————————————————————–

                                 Extra cash for mortgage = $1,790 a month

Therefore, someone with annual salary between $35,000 to $40,000, may be lent a home loan from $150,000 up to $250,000. A more detailed result depends on an individual’s circumstances.

Contact us to work out your circumstance.

6. House, townhouse, apartment or unit?

People choose the type of dwellings based on their life style, family member’s needs, and convenience.

Family with young children may find houses appealing. While children play in the backyard, parents may still work from home in the office. Some empty nest couples may feel they still want to live in the house they lived in for years, enjoying gardening and having afternoon tea in the back yard. Men of all ages have their tools kept in the garage, and would run out of space if they moved to an apartment. Many tradies enjoying living in houses.

In Sydney, many houses are not normally located within the walking distance of train stations. If you rely on trains to go to work, you may find looking for a house close to train station.

Apartments and units are normally closer to the public transport. Many singles, families with no children, and retirees choose to live in apartments or units because of the convenience – ease of commuting to work and/or accessible shopping and dining facilities. Townhouses are dwellings with properties of both houses and apartments. Most townhouses do not have a large back yard compared to houses. Many townhouses facilitate one car garage, several have two car garages. Several townhouses are located close to public transport, some are not.

Something else important to keep in mind is Sydney’s increasing population. More and more houses will be knocked down and replaced by high rise apartments.

There is not set rule that house is better than townhouse or apartment, people should choose the kind of property that best suits their lifestyle and their budget. At the same time, the property they choose should be easy for them to travel to work.

 Still can’t decide? Contact us for consulting.

7. Why might bank decline my mortgage application?

With their funds obtained from different sources, different lenders have their own risk appetite. Lenders (banks or financial institutions) decline mortgage applications for all kinds of reasons. The most common is that – you do not meet their risk assessment and are too much for their appetite.

However. Even if your mortgage application is declined by one particular bank, that does not mean you cannot obtain a loan from another lender.

That is why it is advisable to use a mortgage broker to help you apply for a loan rather than applying with a single bank. By working with mortgage brokers like Assurance Loans, you have a much higher chance of having your loan approved.

To most of our customers, our mortgage broking service is free. Contact us on 9838 8018

8. What happens if I purchase an off plan apartment/ unit but could not get the mortgage loan to settle?

The period from when people sign the off-the-plan contract to purchase, to the time of the property settlement, has a time difference. This time difference ranges from half a year to 2-3 years, or even longer than 5 years. Because of this time difference, most people sign the off-the-plan contract and exchange the contract before their loan is approved for settlement.

In the off the plan purchase case, because of the time difference between contract exchange and settlement, buyers exchange their contract of sale before their loan were unconditional approved. If the contract is exchanged, buyers must fulfill the contract. This means whether the buyer(s) could or could not have their loan approved, they still need to buy the property according to the contract. 

Lenders normally only give unconditional loan approval 3 months before property settlement. If the off the plan buyers’ loan is approved, the contract condition can be met on settlement. However, if the off the plan buyers’ loan is not approved, the buyer is still forced to fulfil the contract.  

Being unable to have your loan approved means you are unable to finalize the contact. The penalty for being unable to finalize the contract is set out in the terms and conditions of the said contract. *

Hence, before you sign the off-the-plan purchase contract, consult with your solicitor (conveyor/lawyer) for possible consequences of being unable to finalize.

Contact us if you do not have a legal representative.

*A common consequence is that you will lose your deposit, usually 5% or 10% of the contract value.

9. What happens if I lose my current job? Will the bank forcefully take away my house and sell it?

If you lose your current job, look for a new one quickly. The commitment you have with your lender is that you are able to make repayments in a timely manner.

If you have extra savings from the absence of earning, make the repayments from your extra savings.

You may call the bank to give you “repayment holiday”. Ensure you keep up communications with your broker or bank until the financial hardship ends.

Be aware there are indeed some cases where properties were put to auction by the bank in order to recover the debt.

10. What is First Home Owner Grant (FHOG)? Can I receive FHOG?

In New South Wales, the First Home Owner Grant (New Homes) scheme was established to assist eligible first home owners in purchasing a new home or building their home by offering a grant. (http://www.osr.nsw.gov.au/grants/fhog)

If you and your spouse are eligible, you are purchasing new home under $600,000 or build new home package under $750,000.  You have a chance to get a FHOG grant of $10,000 from January 2016.

When you apply for a home loan with us, we may apply for the FHOG grant for you at the same time.

Contact us on 9838 8018 for details.

Other Frequent Asked Questions:
  1. Once I have been granted PR (permanent residency) in Australia, for the home I live, should I buy to live in or just rent it?

You may find answer in our FAQ Q1 and Q10. Still not clear, contact us to review your own situation. Contact Us

 

  1. If it is the first time I buy property in Australia, will I be offered any discount or concession?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Once I have been granted PR (permanent residency) in Australia, for the home I live, should I buy it under my parent’s name?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I am going to buy a property in Australia, what is the advantage?

You may find answer in our FAQ Q1. Still not clear, contact us to review your own situation. Contact Us

 

  1. If I am going to buy a property in Australia, what will be the minimum requirement?

You may find answer in our FAQ Q1. Still not clear, contact us to review your own situation. Contact Us

 

  1. If I am going to buy a property in Australia, which areas or suburbs should I choose (pick up)?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I am going to buy a property in Australia, how many bedrooms and bathrooms do I need?

You may find answer in our FAQ Q4. Still not clear, contact us to review your own situation. Contact Us

 

  1. If I am going to buy a property in Australia, how much storage space do I need?

You may find answer in our FAQ Q4. Still not clear, contact us to review your own situation. Contact Us

 

  1. If I am going to buy a property in Australia, should this property include a parking space or a garage?

You may find answer in our FAQ Q4. Still not clear, contact us to review your own situation. Contact Us

 

  1. If I am going to buy a property in Australia, should this property have a garden, a courtyard or a balcony?

You may find answer in our FAQ Q4. Still not clear, contact us to review your own situation. Contact Us

 

  1. If am going to buy a property in Australia, should I consider the property to be close to the public transport, school and work?

You may find answer in our FAQ Q4. Still not clear, contact us to review your own situation. Contact Us

 

  1. If am going to buy a property in Australia, should I consider the property to have level access.

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If am going to buy a property in Australia, should I consider the property to have a spare room for a home office?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Are you prepared to renovate if the property requires repairs or upgrading?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I don’t have a job, may I still apply for a home loan?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I get paid cash in hand, may I still apply for home loan?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I want to buy a property worth $800,000 to $900,000, how much income do I need?

You may find answer in our FAQ Q5. Still not clear, contact us to review your own situation. Contact Us

 

  1. Should I purchase the property under my parents’ name and then I live in there?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Should I purchase the property under my parents’ name and rent it out?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I purchase the property, do I claim it as an investment property or an owner occupied home?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What is the difference between investment property and owner occupied home?

Investment property is the property that you lease it to others and collect rent for it. Owner occupied home is the place you live in yourself and been used only for your own purpose.

Still not clear. Contact us to review your own situation. Contact Us

 

  1. If I purchase the property, what do I need to do if I want to claim it as my prime residency?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Do I need to provide any statement or evidences to proof the property as my prime residency?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If my parents help me to pay the deposit, can I borrow more money to purchase a bigger house?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I want to start saving for my property, which bank has the highest saving interest rate?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I understand that I need to have a certain amount of saving for the deposit of my property, is there any way I can earn a higher return of my saving than normal bank interest to reach the goal?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I plan to settle down in Sydney with my family. I start to search for our first home, how many bedrooms should the property include?

You may find answer in our FAQ Q4. Still not clear, contact us to review your own situation. Contact Us

 

  1. Should I buy a small single room apartment now then upgrade to a big house once I earn more income?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I decided to purchase a property, will my lifestyle be impacted after I start to make repayment?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. How to calculate my annual expenses?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I do not know if my current financial situation is good or not, who should I talk to?

Contact us to review your own situation. Contact Us

 

  1. While I am young, should I borrow to the maximum to release my potential?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I purchase an off-the plan property, will I get any refund if my property cannot settle on time?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I purchase a unit from my friends and they lie to me, what will happen?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What is the ongoing cost to purchase an off-the plan property?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What will happen if the bank undervalues the property?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What will happen if I can’t make the mortgage repayment?

Please refer to FAQ section, Q9. Still not clear. Contact us to review your own situation. Contact Us

 

  1. When the natural disaster occurs in my property, such as fire, earthquake, flood, do I still owe money to the bank?

The answer is “Yes”, you still owe money to the bank. How do you do to minimize your risk, contact us for details. Contact Us

 

  1. Do I need to pay any stamp duty if I purchase a new property?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. How much stamp duty do I need to pay if the house price is above $750,000?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. How much stamp duty do I need to pay if the house price is under $550,000?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I want to borrow $500,000, which mortgage product is most suitable for me?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What is the difference between fixed and variable rate?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What are the advantages and disadvantages for fixed and variable rate?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Why bank’s standard variable rate is different from Reserve Bank Australia’s cash rate?

Because Reserve Bank’s cash rate is not the only factor that banks and lenders determine their standard variable rate. There are other factors that lenders need to consider to set up their standard variable rate.

Still do not understand, contact us to review your own situation. Contact Us

 

  1. With the variable rate product, could the bank vary their interest rate at their direction?

Banks and lenders may vary the standard variable rate at certain time when they find it necessary. Still not clear, contact us for more information. Contact Us

 

  1. Should I borrow more money in case the property needs some renovation, improvement or to pay the solicitor fee?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What is council rate?

Council rates can generally be described as a tax on the wealth of property owners, where their wealth is measured by the value of their land (excluding improvements such as a house). However, in New South Wales it would be more accurate to say that rates are a function of a property owner’s share of the total value of land within the local government area. Generally, the greater your share of total land wealth within your council area, the higher your rates; although this depends on the type of rating system chosen by the council. (extract from Waverly Council fact sheet 10) Contact Us

 

  1. When do I need to pay the council rate?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Is there any ongoing cost for purchasing a house?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Is it possible to purchase the land first then build the house once I have enough money?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I want to do renovation or improvement in my house, do I need to get council approval?

It depends on the area you want to renovate. Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Can I renovate the unit / apartment without notify the strata manager?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I want to change the structure of the house, do I need to get council approval?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Who is conveyancer? What kind of job do they do?

Conveyancing is the term for the legal and statutory processes required to effect the transfer of ownership of real estate from one person to another. The preparation, execution, verification and lodgement of numerous legal documents are important elements of conveyancing.

A good conveyancer will explain clearly the meaning and importance of each process, using plain English (not complicated legal terms) to help you understand exactly what’s involved and what documentation you are signing. Drawing upon your instructions, we will also assist you to meet your legal obligations and protect your rights and interests.

Investigating the title of the property is one of the most important elements of conveyancing.

Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. On your behalf, the conveyancer will conduct the appropriate searches and inquiries on the property.

In summary, conveyancers undertake:

  • Certificate of Title searches
  • Searches of government departments and local authorities
  • Advice on the effect of the contract
  • Preparation and certification of legal documents
  • Stamping of required documents
  • Calculation of adjustments of rates and taxes
  • Preparation of settlement statements
  • Liaison with mortgagors and financiers; and
  • Attendance at settlement.

(extract from homestart.com.au) Contact Us

 

  1. When I purchase an off-the plan property, or a house and land package, can I make change to the finish of the kitchen and bathroom?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When I purchase an off-the plan property, or a house and land package, can I select appliances, such as stoves and dishwashers, and items such as floor and wall tiles?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When I purchase an off-the plan property or a house and land package, can I visit the site during construction?

In most cases, the answer is “No”. For your safety, customers are generally not allowed to visit construction sites. For more details, contact us to review your own situation. Contact Us

 

  1. When I purchase an off-the plan property or a house and land package, if the building has finished earlier or later than expected, can I still arrange finance?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When I purchase an off-the plan property or a house and land package, what can I do if the construction is delayed and the building cannot be delivered on time?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When I purchase an off-the plan property or a house and land package, what can I do if I find the design is altered?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When I purchase an off-the plan property or a house and land package, what will happen to my deposit if the developer did not go ahead for the construction?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When I purchase an off-the plan property or a house and land package, can I resell the property during the construction period?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When I purchase an off-the plan property or a house and land package, can the developer make changes to the design of my property without my consent?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Is there a cooling off period in Sales by auction?

Generally speaking, there is no cooling off period for sales by auction. To require further information, contact us to review your own situation. Contact Us

 

  1. What is the maximum amount I can afford for the mortgage repayment?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Why do I need a building inspection report?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When inspect an established property, what kind of area that I need to pay attention in order to avoid a big repair bill?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Am I allowed to do renovation or improvement in my townhouse?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Do I need to pay the strata levy for townhouse?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Are all the unit freehold?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What is the difference between freehold and leasehold?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Can I pass the property to my children if I passed away? Does he/she need to pay any tax or fee for that?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When can I get my title deed back?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Can I sell my property while it still has a mortgage?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When I sell my property with the mortgage, how much may I get back into my own pocket?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If the apartment has gym, swimming pool and lift, do I need to pay higher strata levy for all these facilities?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I currently have a car loan, am I still eligible for home loan? Does it have any impact on my car loan?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I am interested in a property, and was given the contract of sale, what am I going to do with this contract of sale? Who should I go for professional advice?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. How to make an offer if I want to buy the property?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What will happen if my offer is not accepted by the owner?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. When is the suitable time to arrange a building inspection report?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If the building inspection report disclose a major defect of the building, and I decide not to go ahead with the property, may I still get my deposit back?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Can I put an extra bedroom without the council approval?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What will happen if I start the renovation without the council approval?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What is a land tax?

Land tax is a tax levied on the owners of land in New South Wales (NSW) as at midnight on the 31 December of each year. Land tax applies to land regardless of whether income is earned from the land. (extract from Office of State Revenue website)

Still not clear. Contact us for more information. Contact Us

 

  1. If I purchase a house, do I need to pay land tax?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I purchase a land, do I need to pay land tax?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Do I need to pay land tax every year if I purchased a land?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. How much land tax do I need to pay if I purchase a house and land package?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If we divorce, and the property is under our name, will the home loan split?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If we divorce, and the property is under my partner’s name, will the home loan split?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If we divorce, and the property is under my name, will the home loan split?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If there are two names on the Contract of Sale, can I apply the home loan only in my name?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If my name only appears on the contract of sales, may I apply the home loan together with my partner?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. If I purchase an off-the-plan property, may I transfer it to my friend’s name?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Should I buy car first or property first?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I have bought my property few years ago, now it increased in value, can I do something about it?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Where could I find out the mortgage interest rate my bank is currently charging us (me)?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Now we have passed initial stage of paying off the mortgage, we want to invest another property, are we able to do that?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Our children are growing up, we will need more bedroom(s). Are we able to upgrade to a bigger house?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. My parents are coming to help us, we need more bedroom(s), are we able to upgrade to a bigger house?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. My parents are migrating to Australia, can I buy property for them to live in, how could I do that?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. My friends got rental property, they earn the same or even less than us, we want to have rental property too, can you help us to do that?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. How do I find out how much equity I have at moment?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What is refinance?

To explain refinance properly, we are given you an example.

If your home is currently mortgaged with ABC bank, with agreement to pay interest of 5% and the loan amount is $300,000. After refinance to XYZ bank, you have repaid ABC bank $300,000. The refinance enables you start to pay a lower interest of 4.75% to XYZ bank on the same amount of $300,000. Now you start to owe XYZ bank $300,000, with agreement to pay interest 4.75%.

So the definition of refinance is by repaying the amount of one lender, switch to another lender to start repay. Contact Us

 

  1. Do you do refinance?

Yes, Assurance Loans arrange refinance for our customers. Contact Us

 

  1. What is the benefit of refinance?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. We want to help our children to buy their first home, what can we do?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I want to buy investment property first, how may I do that?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I want to invest in property before I buy my own home, can I do that?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I found my bank is charging me/us way higher than your advertised interest rate, what can I do to reduce it?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. How do I switch bank?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. How could I read my superfund statement?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I received my superannuation statement, my super money is less than what my employer/boss has put in, why is that?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I want to use my super money (money from my superannuation) to invest in property, how may I do that?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. I have some savings, can you tell me if that is enough to buy a property?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. We do not have any cash savings, but our house /home increase a lot in value, are we able to buy another property?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. Where may we find out our house/home value now?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. We are going to upgrade to a bigger place, is it better for us to sell our current home or to keep it and rent it out?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. We need to stay in our home, buy a bigger home, move to this bigger home, then sell our current home, are we able to do that?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

 

  1. What is cooling off period?

Cooling off period is a period of time after a sale contract is agreed during which the buyer can cancel the contract without incurring a penalty. (extract from Google translation)

Still not clear. Contact us for more information Contact Us

 

  1. What should I do in the cooling off period?

Answer to this question depends on individual circumstance. Contact us to review your own situation. Contact Us

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